Alphabet (NASDAQ:GOOGL) Price Target Increased to $182.00 by Analysts at Rosenblatt Securities

Alphabet (NASDAQ:GOOGL) had its price target increased by stock analysts at Rosenblatt Securities from $172.00 to $182.00 in a note issued to investors on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the information services provider’s stock. Rosenblatt Securities’ target price would suggest a potential upside of 16.67% from the stock’s current price.

A number of other equities research analysts also recently commented on the company. Royal Bank of Canada reiterated an “outperform” rating and set a $155.00 price objective on shares of Alphabet in a research report on Wednesday, January 31st. Roth Mkm cut their target price on shares of Alphabet from $166.00 to $164.00 and set a “buy” rating on the stock in a research note on Wednesday, January 31st. Jefferies Financial Group upped their price target on shares of Alphabet from $175.00 to $180.00 and gave the stock a “buy” rating in a research note on Friday, April 19th. KeyCorp increased their target price on shares of Alphabet from $165.00 to $175.00 and gave the stock an “overweight” rating in a research report on Monday. Finally, Redburn Atlantic increased their target price on shares of Alphabet from $150.00 to $165.00 and gave the stock a “buy” rating in a research report on Wednesday, January 31st. Five investment analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $164.41.

Alphabet Stock Performance

GOOGL opened at $156.00 on Friday. The company has a market capitalization of $1.94 trillion, a price-to-earnings ratio of 26.90, a price-to-earnings-growth ratio of 1.47 and a beta of 1.05. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.10 and a quick ratio of 2.10. Alphabet has a 1-year low of $102.63 and a 1-year high of $160.22. The business has a 50 day moving average price of $147.22 and a two-hundred day moving average price of $141.16.

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

Insiders Place Their Bets

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $146.29, for a total value of $3,291,525.00. Following the completion of the sale, the chief executive officer now directly owns 2,377,691 shares in the company, valued at $347,832,416.39. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director John L. Hennessy sold 800 shares of the business’s stock in a transaction dated Friday, April 12th. The shares were sold at an average price of $159.56, for a total transaction of $127,648.00. Following the transaction, the director now directly owns 7,991 shares in the company, valued at $1,275,043.96. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $146.29, for a total transaction of $3,291,525.00. Following the transaction, the chief executive officer now owns 2,377,691 shares in the company, valued at $347,832,416.39. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 251,339 shares of company stock worth $36,377,482. 0.88% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vermillion & White Wealth Management Group LLC bought a new stake in Alphabet in the fourth quarter worth about $30,000. Tributary Capital Management LLC bought a new stake in Alphabet in the first quarter worth about $30,000. DiNuzzo Private Wealth Inc. bought a new stake in Alphabet in the fourth quarter worth about $38,000. Meritage Group LP raised its position in Alphabet by 1,061.5% in the third quarter. Meritage Group LP now owns 302 shares of the information services provider’s stock worth $40,000 after acquiring an additional 276 shares during the period. Finally, Macroview Investment Management LLC raised its position in Alphabet by 165.8% in the third quarter. Macroview Investment Management LLC now owns 319 shares of the information services provider’s stock worth $42,000 after acquiring an additional 199 shares during the period. 40.03% of the stock is currently owned by hedge funds and other 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.