Piper Sandler Increases Alphabet (NASDAQ:GOOGL) Price Target to $206.00

Alphabet (NASDAQ:GOOGL) had its target price boosted by research analysts at Piper Sandler from $200.00 to $206.00 in a research note issued to investors on Wednesday, MarketBeat reports. The brokerage currently has an “overweight” rating on the information services provider’s stock. Piper Sandler’s target price would indicate a potential upside of 23.15% from the stock’s previous close.

Other equities research analysts have also recently issued reports about the company. Canaccord Genuity Group increased their target price on Alphabet from $190.00 to $210.00 and gave the stock a “buy” rating in a research note on Friday, April 26th. Raymond James raised their price target on shares of Alphabet from $160.00 to $200.00 and gave the company an “outperform” rating in a research report on Friday, April 26th. Susquehanna lifted their target price on Alphabet from $170.00 to $225.00 and gave the stock a “positive” rating in a report on Monday, April 29th. Barclays upped their price target on Alphabet from $173.00 to $200.00 and gave the company an “overweight” rating in a report on Friday, April 26th. Finally, Sanford C. Bernstein lifted their price objective on Alphabet from $165.00 to $180.00 and gave the stock a “market perform” rating in a report on Friday, April 26th. Six equities research analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Alphabet has an average rating of “Moderate Buy” and an average target price of $203.74.

Alphabet Stock Down 3.1 %

Shares of NASDAQ:GOOGL opened at $167.28 on Wednesday. The firm has a market capitalization of $2.07 trillion, a P/E ratio of 25.66, a P/E/G ratio of 1.36 and a beta of 1.05. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.15 and a current ratio of 2.15. The stock has a 50 day moving average price of $179.22 and a 200-day moving average price of $160.15. Alphabet has a 52-week low of $120.21 and a 52-week high of $191.75.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.85 by $0.04. The company had revenue of $84.74 billion for the quarter, compared to analysts’ expectations of $70.60 billion. Alphabet had a return on equity of 30.96% and a net margin of 26.70%. During the same period in the prior year, the firm earned $1.44 earnings per share. As a group, equities research analysts anticipate that Alphabet will post 7.62 EPS for the current fiscal year.

Insider Activity

In related news, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $166.67, for a total value of $113,668.94. Following the sale, the chief accounting officer now directly owns 29,284 shares in the company, valued at $4,880,764.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $166.80, for a total value of $3,753,000.00. Following the completion of the transaction, the chief executive officer now directly owns 2,280,511 shares of the company’s stock, valued at approximately $380,389,234.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $166.67, for a total transaction of $113,668.94. Following the sale, the chief accounting officer now owns 29,284 shares in the company, valued at $4,880,764.28. The disclosure for this sale can be found here. Insiders sold a total of 122,388 shares of company stock worth $21,497,609 over the last 90 days. Corporate insiders own 11.55% of the company’s stock.

Institutional Investors Weigh In On Alphabet

Large investors have recently added to or reduced their stakes in the stock. Christopher J. Hasenberg Inc raised its position in Alphabet by 75.0% in the 2nd quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock worth $26,000 after purchasing an additional 60 shares during the period. Tributary Capital Management LLC purchased a new stake in shares of Alphabet in the first quarter worth approximately $30,000. Vermillion & White Wealth Management Group LLC purchased a new position in Alphabet during the 4th quarter valued at $30,000. DiNuzzo Private Wealth Inc. bought a new stake in shares of Alphabet during the fourth quarter worth $38,000. Finally, CarsonAllaria Wealth Management Ltd. grew its holdings in shares of Alphabet by 59.2% in the first quarter. CarsonAllaria Wealth Management Ltd. now owns 293 shares of the information services provider’s stock worth $44,000 after purchasing an additional 109 shares during the last quarter. 40.03% of the stock is 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.