Alphabet Inc. (NASDAQ:GOOG) Receives $156.00 Average Price Target from Analysts

Alphabet Inc. (NASDAQ:GOOG) has earned a consensus rating of “Buy” from the six ratings firms that are presently covering the firm, MarketBeat reports. Six analysts have rated the stock with a buy recommendation. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $159.86.

Several research analysts have commented on the stock. Morgan Stanley restated an “overweight” rating and issued a $165.00 target price on shares of Alphabet in a research report on Thursday, April 11th. Stifel Nicolaus upped their target price on shares of Alphabet from $154.00 to $174.00 and gave the stock a “buy” rating in a research report on Tuesday. Oppenheimer upped their target price on shares of Alphabet from $172.00 to $185.00 and gave the stock an “outperform” rating in a research report on Monday, April 8th. Raymond James upped their target price on shares of Alphabet from $150.00 to $160.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 24th. Finally, Susquehanna upped their target price on shares of Alphabet from $150.00 to $170.00 and gave the stock a “positive” rating in a research report on Wednesday, January 31st.

Insider Activity

In related news, SVP Prabhakar Raghavan sold 3,258 shares of the stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $155.97, for a total transaction of $508,150.26. Following the completion of the sale, the senior vice president now directly owns 144,685 shares of the company’s stock, valued at $22,566,519.45. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Alphabet news, CAO Amie Thuener O’toole sold 660 shares of the stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $143.59, for a total value of $94,769.40. Following the completion of the sale, the chief accounting officer now owns 27,920 shares in the company, valued at approximately $4,009,032.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Prabhakar Raghavan sold 3,258 shares of the stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $155.97, for a total transaction of $508,150.26. Following the completion of the sale, the senior vice president now owns 144,685 shares of the company’s stock, valued at approximately $22,566,519.45. The disclosure for this sale can be found here. Insiders sold 251,339 shares of company stock worth $36,377,482 over the last three months. Corporate insiders own 12.99% of the company’s stock.

Institutional Investors Weigh In On Alphabet

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Tandem Wealth Advisors LLC acquired a new position in shares of Alphabet during the 3rd quarter worth $25,000. Bruce G. Allen Investments LLC acquired a new position in shares of Alphabet during the 4th quarter worth $26,000. Partnership Wealth Management LLC acquired a new position in shares of Alphabet during the 4th quarter worth $26,000. HWG Holdings LP acquired a new position in shares of Alphabet during the 2nd quarter worth $26,000. Finally, Equitec Proprietary Markets LLC acquired a new position in shares of Alphabet during the 4th quarter worth $28,000. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Alphabet Stock Performance

Shares of Alphabet stock opened at $156.88 on Thursday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.10 and a current ratio of 2.10. Alphabet has a 1 year low of $103.27 and a 1 year high of $161.70. The firm’s 50-day simple moving average is $147.15 and its 200-day simple moving average is $141.61. The firm has a market cap of $1.95 trillion, a PE ratio of 27.05, a price-to-earnings-growth ratio of 1.44 and a beta of 1.05.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data on Tuesday, January 30th. The information services provider reported $1.64 earnings per share for the quarter, beating analysts’ consensus estimates of $1.60 by $0.04. Alphabet had a net margin of 24.01% and a return on equity of 27.22%. The business had revenue of $86.31 billion during the quarter, compared to the consensus estimate of $85.28 billion. During the same quarter in the prior year, the firm earned $1.05 EPS. The company’s revenue for the quarter was up 13.5% compared to the same quarter last year. Equities analysts forecast that Alphabet will post 6.78 earnings per share for the current fiscal year.

Alphabet Company Profile

Alphabet Inc offers various products and platforms in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment provides products and services, including ads, Android, Chrome, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.