Alphabet (NASDAQ:GOOGL) Price Target Increased to $220.00 by Analysts at Jefferies Financial Group

Alphabet (NASDAQ:GOOGL) had its target price increased by analysts at Jefferies Financial Group from $215.00 to $220.00 in a research report issued to clients and investors on Tuesday, BayStreet.CA reports. Jefferies Financial Group’s price objective indicates a potential upside of 15.67% from the company’s current price.

GOOGL has been the subject of several other research reports. Oppenheimer raised their target price on shares of Alphabet from $185.00 to $205.00 and gave the stock an “outperform” rating in a report on Friday, April 26th. Argus boosted their target price on Alphabet from $170.00 to $200.00 and gave the company a “buy” rating in a research report on Tuesday, April 30th. Wolfe Research increased their price target on Alphabet from $180.00 to $200.00 and gave the stock an “outperform” rating in a report on Friday, April 26th. Raymond James upped their price objective on Alphabet from $160.00 to $200.00 and gave the company an “outperform” rating in a research report on Friday, April 26th. Finally, Bank of America reiterated a “buy” rating and set a $200.00 target price on shares of Alphabet in a research report on Tuesday, June 11th. Six research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $194.34.

Alphabet Price Performance

Shares of NASDAQ GOOGL traded up $1.17 during mid-day trading on Tuesday, hitting $190.20. 4,607,875 shares of the company’s stock traded hands, compared to its average volume of 28,120,811. The company’s 50-day moving average is $175.88 and its two-hundred day moving average is $156.58. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.15 and a quick ratio of 2.15. Alphabet has a 1 year low of $115.35 and a 1 year high of $191.36. The company has a market capitalization of $2.35 trillion, a P/E ratio of 29.18, a PEG ratio of 1.43 and a beta of 1.05.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Thursday, April 25th. The information services provider reported $1.89 EPS for the quarter, topping analysts’ consensus estimates of $1.49 by $0.40. The firm had revenue of $80.54 billion during the quarter, compared to analysts’ expectations of $66.04 billion. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. During the same quarter in the previous year, the business earned $1.17 EPS. On average, equities analysts anticipate that Alphabet will post 7.6 EPS for the current fiscal year.

Insiders Place Their Bets

In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $166.67, for a total transaction of $113,668.94. Following the transaction, the chief accounting officer now owns 29,284 shares in the company, valued at $4,880,764.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction that occurred on Wednesday, April 17th. The stock was sold at an average price of $157.41, for a total transaction of $3,541,725.00. Following the completion of the sale, the chief executive officer now directly owns 2,303,011 shares in the company, valued at approximately $362,516,961.51. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $166.67, for a total value of $113,668.94. Following the transaction, 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. Over the last quarter, insiders sold 123,788 shares of company stock worth $21,143,403. Company insiders own 11.55% of the company’s stock.

Hedge Funds Weigh In On Alphabet

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Lynx Investment Advisory purchased a new stake in Alphabet in the second quarter valued at $2,441,000. Fragasso Financial Advisors Inc boosted its stake in Alphabet by 0.5% during the second quarter. Fragasso Financial Advisors Inc now owns 88,844 shares of the information services provider’s stock worth $16,183,000 after buying an additional 476 shares during the period. Monterey Private Wealth Inc. increased its position in shares of Alphabet by 5.6% during the second quarter. Monterey Private Wealth Inc. now owns 17,767 shares of the information services provider’s stock valued at $3,236,000 after acquiring an additional 946 shares during the last quarter. Mather Group LLC. raised its stake in shares of Alphabet by 38.7% in the 2nd quarter. Mather Group LLC. now owns 80,146 shares of the information services provider’s stock valued at $14,599,000 after acquiring an additional 22,349 shares during the period. Finally, Great Waters Wealth Management lifted its holdings in shares of Alphabet by 15.4% in the 2nd quarter. Great Waters Wealth Management now owns 3,032 shares of the information services provider’s stock worth $552,000 after acquiring an additional 404 shares during 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.