Alphabet (NASDAQ:GOOGL) PT Raised to $220.00 at Evercore ISI

Alphabet (NASDAQ:GOOGL) had its target price lifted by equities research analysts at Evercore ISI from $160.00 to $220.00 in a research note issued on Friday, Benzinga reports. The brokerage currently has an “outperform” rating on the information services provider’s stock. Evercore ISI’s price objective suggests a potential upside of 41.03% from the stock’s current price.

A number of other brokerages have also recently issued reports on GOOGL. UBS Group raised their price objective on shares of Alphabet from $150.00 to $166.00 and gave the company a “neutral” rating in a research note on Tuesday, April 16th. Redburn Atlantic raised their price objective on shares of Alphabet from $150.00 to $165.00 and gave the stock a “buy” rating in a report on Wednesday, January 31st. Barclays lifted their price target on shares of Alphabet from $173.00 to $200.00 and gave the company an “overweight” rating in a research note on Friday. Wells Fargo & Company lowered their price target on shares of Alphabet from $144.00 to $141.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 3rd. Finally, Citigroup upped their target price on shares of Alphabet from $168.00 to $190.00 and gave the company a “buy” rating in a report on Friday. Five analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $173.00.

Alphabet Trading Down 2.0 %

Shares of NASDAQ:GOOGL opened at $156.00 on Friday. The stock has a market capitalization of $1.94 trillion, a PE ratio of 26.90, a P/E/G ratio of 1.47 and a beta of 1.05. Alphabet has a 1 year low of $102.63 and a 1 year high of $160.22. The firm has a fifty day moving average price of $147.22 and a 200 day moving average price of $141.16. The company has a current ratio of 2.10, a quick ratio of 2.10 and a debt-to-equity ratio of 0.05.

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

Insider Activity

In other news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction that occurred 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 sale, the chief executive officer now owns 2,377,691 shares of the company’s stock, valued at $347,832,416.39. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction that occurred 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 sale, the chief executive officer now owns 2,377,691 shares of the company’s stock, valued at $347,832,416.39. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CAO Amie Thuener O’toole sold 660 shares of the business’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $143.59, for a total transaction of $94,769.40. Following the completion of the sale, the chief accounting officer now directly owns 27,920 shares in the company, valued at approximately $4,009,032.80. The disclosure for this sale can be found here. Insiders have sold a total of 251,339 shares of company stock valued at $36,377,482 over the last quarter. Company insiders own 0.88% of the company’s stock.

Hedge Funds Weigh In On Alphabet

Several hedge funds have recently bought and sold shares of the company. Vermillion & White Wealth Management Group LLC purchased a new position in Alphabet in the 4th quarter worth approximately $30,000. Tributary Capital Management LLC purchased a new position in Alphabet in the 1st quarter worth approximately $30,000. DiNuzzo Private Wealth Inc. purchased a new position in Alphabet in the 4th quarter worth approximately $38,000. Meritage Group LP grew its stake in Alphabet by 1,061.5% in the 3rd quarter. Meritage Group LP now owns 302 shares of the information services provider’s stock worth $40,000 after buying an additional 276 shares in the last quarter. Finally, Macroview Investment Management LLC grew its stake in Alphabet by 165.8% in the 3rd quarter. Macroview Investment Management LLC now owns 319 shares of the information services provider’s stock worth $42,000 after buying an additional 199 shares in the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

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.