Alphabet (NASDAQ:GOOGL) Receives “Neutral” Rating from Cantor Fitzgerald

Alphabet (NASDAQ:GOOGL)‘s stock had its “neutral” rating restated by research analysts at Cantor Fitzgerald in a report issued on Monday, Benzinga reports. They presently have a $190.00 price objective on the information services provider’s stock. Cantor Fitzgerald’s price target indicates a potential upside of 16.06% from the company’s previous close.

A number of other equities research analysts also recently commented on GOOGL. Piper Sandler reduced their target price on Alphabet from $206.00 to $200.00 and set an “overweight” rating for the company in a report on Tuesday, September 10th. Roth Mkm reissued a “buy” rating and set a $206.00 price objective on shares of Alphabet in a report on Thursday, August 29th. Evercore ISI dropped their target price on shares of Alphabet from $225.00 to $200.00 and set an “outperform” rating for the company in a report on Monday, September 16th. Wolfe Research began coverage on Alphabet in a research note on Tuesday, July 16th. They set an “outperform” rating and a $240.00 price target on the stock. Finally, Truist Financial reaffirmed a “buy” rating and issued a $196.00 price objective on shares of Alphabet in a research note on Monday, September 16th. Eight 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, Alphabet has an average rating of “Moderate Buy” and a consensus target price of $201.08.

Alphabet Stock Performance

NASDAQ GOOGL traded up $0.12 during trading hours on Monday, hitting $163.71. 4,554,805 shares of the stock were exchanged, compared to its average volume of 27,602,969. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04. The company has a market cap of $2.02 trillion, a price-to-earnings ratio of 25.11, a price-to-earnings-growth ratio of 1.13 and a beta of 1.04. Alphabet has a 12-month low of $120.21 and a 12-month high of $191.75. The stock has a 50-day moving average of $164.72 and a 200 day moving average of $165.79.

Alphabet (NASDAQ:GOOGL) last issued its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.85 by $0.04. The business had revenue of $84.74 billion during the quarter, compared to the consensus estimate of $70.60 billion. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. During the same period in the prior year, the business posted $1.44 EPS. As a group, equities research analysts forecast that Alphabet will post 7.64 earnings per share for the current year.

Insider Transactions at Alphabet

In other Alphabet news, SVP Prabhakar Raghavan sold 3,262 shares of Alphabet stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $183.99, for a total transaction of $600,175.38. Following the transaction, the senior vice president now directly owns 9 shares of the company’s stock, valued at $1,655.91. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $160.63, for a total value of $3,614,175.00. Following the completion of the sale, the chief executive officer now owns 2,114,885 shares in the company, valued at $339,713,977.55. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Prabhakar Raghavan sold 3,262 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $183.99, for a total value of $600,175.38. Following the transaction, the senior vice president now directly owns 9 shares in the company, valued at $1,655.91. The disclosure for this sale can be found here. Insiders have sold a total of 180,167 shares of company stock worth $29,762,606 in the last three months. 11.55% of the stock is currently owned by company insiders.

Institutional Trading of Alphabet

A number of hedge funds have recently made changes to their positions in GOOGL. Christopher J. Hasenberg Inc boosted its stake in shares of Alphabet by 75.0% during the 2nd quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock valued at $26,000 after buying an additional 60 shares during the last quarter. Vermillion & White Wealth Management Group LLC bought a new position in Alphabet during the 4th quarter valued at $30,000. Tributary Capital Management LLC bought a new stake in shares of Alphabet in the 1st quarter worth about $30,000. Kings Path Partners LLC bought a new stake in shares of Alphabet in the 2nd quarter worth about $36,000. Finally, Denver PWM LLC acquired a new stake in shares of Alphabet in the 2nd quarter valued at about $41,000. 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.