Alphabet (NASDAQ:GOOGL) PT Raised to $190.00

Alphabet (NASDAQ:GOOGL) had its target price boosted by investment analysts at Canaccord Genuity Group from $180.00 to $190.00 in a report released on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the information services provider’s stock. Canaccord Genuity Group’s price objective would indicate a potential upside of 22.21% from the company’s previous close.

A number of other equities research analysts also recently commented on GOOGL. Wolfe Research upped their price objective on Alphabet from $170.00 to $180.00 and gave the company an “outperform” rating in a report on Wednesday, January 31st. StockNews.com upgraded Alphabet from a “buy” rating to a “strong-buy” rating in a report on Wednesday, December 20th. Rosenblatt Securities lowered their price target on Alphabet from $174.00 to $172.00 and set a “buy” rating for the company in a report on Wednesday, January 31st. KeyCorp increased their price target on Alphabet from $153.00 to $165.00 and gave the stock an “overweight” rating in a report on Monday, January 29th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $155.00 price target on shares of Alphabet in a report on Wednesday, January 31st. Five analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $157.97.

Alphabet Trading Up 0.7 %

Shares of GOOGL opened at $155.47 on Wednesday. The stock’s fifty day simple moving average is $145.95 and its 200-day simple moving average is $140.29. The firm has a market capitalization of $1.93 trillion, a PE ratio of 26.81, a price-to-earnings-growth ratio of 1.42 and a beta of 1.05. The company has a quick ratio of 2.10, a current ratio of 2.10 and a debt-to-equity ratio of 0.05. Alphabet has a 12-month low of $102.63 and a 12-month high of $160.22.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Tuesday, January 30th. The information services provider reported $1.64 EPS for the quarter, beating analysts’ consensus estimates of $1.60 by $0.04. The business had revenue of $86.31 billion during the quarter, compared to the consensus estimate of $70.77 billion. Alphabet had a return on equity of 27.22% and a net margin of 24.01%. During the same quarter in the prior year, the company posted $1.05 earnings per share. As a group, research analysts predict that Alphabet will post 6.78 earnings per share for the current year.

Insider Transactions at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $132.70, for a total transaction of $2,985,750.00. Following the transaction, the chief executive officer now owns 2,332,691 shares in the company, valued at approximately $309,548,095.70. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, CFO Ruth Porat sold 48,077 shares of the stock in a transaction on Friday, March 8th. The stock was sold at an average price of $137.22, for a total value of $6,597,125.94. Following the completion of the sale, the chief financial officer now directly owns 1,777,106 shares in the company, valued at $243,854,485.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $132.70, for a total value of $2,985,750.00. Following the transaction, the chief executive officer now directly owns 2,332,691 shares in the company, valued at $309,548,095.70. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 251,339 shares of company stock worth $36,377,482. Company insiders own 0.88% of the company’s stock.

Hedge Funds Weigh In On Alphabet

A number of hedge funds have recently made changes to their positions in the stock. Bornite Capital Management LP acquired a new stake in Alphabet during the 1st quarter worth about $16,688,000. Markel Corp grew its holdings in Alphabet by 17.0% during the 1st quarter. Markel Corp now owns 15,500 shares of the information services provider’s stock worth $43,110,000 after acquiring an additional 2,250 shares during the period. United Bank lifted its stake in Alphabet by 5.9% in the first quarter. United Bank now owns 2,033 shares of the information services provider’s stock valued at $5,654,000 after buying an additional 113 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Alphabet by 23.4% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 323,918 shares of the information services provider’s stock worth $900,929,000 after buying an additional 61,427 shares in the last quarter. Finally, Dakota Wealth Management boosted its holdings in shares of Alphabet by 20.4% during the 1st quarter. Dakota Wealth Management now owns 9,279 shares of the information services provider’s stock worth $25,806,000 after buying an additional 1,570 shares in the last quarter. 40.03% of the stock is currently owned by institutional investors.

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.