Alphabet (NASDAQ:GOOGL) Given New $215.00 Price Target at Jefferies Financial Group

Alphabet (NASDAQ:GOOGL) had its target price hoisted by Jefferies Financial Group from $200.00 to $215.00 in a report issued on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the information services provider’s stock. Jefferies Financial Group’s price target suggests a potential upside of 16.87% from the company’s previous close.

Several other analysts have also weighed in on the company. Oppenheimer upped their target price on Alphabet from $185.00 to $205.00 and gave the company an “outperform” rating in a report on Friday, April 26th. BMO Capital Markets reissued an “outperform” rating and issued a $215.00 price objective on shares of Alphabet in a research note on Wednesday, May 15th. Piper Sandler restated an “overweight” rating and set a $200.00 target price (up previously from $160.00) on shares of Alphabet in a research report on Friday, April 26th. Truist Financial increased their price target on shares of Alphabet from $170.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, April 26th. Finally, Argus increased their target price on Alphabet from $170.00 to $200.00 and gave the company a “buy” rating in a report on Tuesday, April 30th. Five analysts have rated the stock with a hold rating, thirty have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Alphabet currently has an average rating of “Moderate Buy” and a consensus price target of $193.69.

Alphabet Stock Performance

Shares of NASDAQ:GOOGL traded down $0.07 during midday trading on Wednesday, hitting $183.96. The stock had a trading volume of 3,743,664 shares, compared to its average volume of 28,691,967. Alphabet has a 1 year low of $115.35 and a 1 year high of $184.29. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.05. The stock has a 50 day moving average price of $171.13 and a two-hundred day moving average price of $153.36. The company has a market capitalization of $2.27 trillion, a PE ratio of 28.23, a P/E/G ratio of 1.35 and a beta of 1.01.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 EPS for the quarter, beating the consensus estimate of $1.49 by $0.40. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. The business had revenue of $80.54 billion during the quarter, compared to analysts’ expectations of $66.04 billion. During the same period last year, the firm earned $1.17 EPS. As a group, equities analysts predict that Alphabet will post 7.6 earnings per share for the current fiscal year.

Insider Buying and Selling at Alphabet

In related news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $177.40, for a total value of $3,991,500.00. Following the completion of the transaction, the chief executive officer now owns 2,213,011 shares in the company, valued at approximately $392,588,151.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $177.40, for a total value of $3,991,500.00. Following the completion of the sale, the chief executive officer now owns 2,213,011 shares in the company, valued at approximately $392,588,151.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $154.79, for a total transaction of $105,566.78. Following the sale, the chief accounting officer now directly owns 29,284 shares in the company, valued at $4,532,870.36. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 146,374 shares of company stock valued at $24,548,073. Corporate insiders own 11.55% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in GOOGL. Tributary Capital Management LLC acquired a new stake in shares of Alphabet in the first quarter worth about $30,000. Vermillion & White Wealth Management Group LLC acquired a new position in shares of Alphabet during the fourth quarter valued at about $30,000. DiNuzzo Private Wealth Inc. acquired a new stake in Alphabet during the fourth quarter worth about $38,000. CarsonAllaria Wealth Management Ltd. increased its stake in Alphabet by 59.2% during the first quarter. CarsonAllaria Wealth Management Ltd. now owns 293 shares of the information services provider’s stock valued at $44,000 after acquiring an additional 109 shares during the period. Finally, Richardson Capital Management LLC raised its holdings in Alphabet by 87.5% in the 1st quarter. Richardson Capital Management LLC now owns 300 shares of the information services provider’s stock valued at $45,000 after acquiring an additional 140 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

About Alphabet

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.