Alphabet (NASDAQ:GOOGL) Price Target Raised to $215.00

Alphabet (NASDAQ:GOOGL) had its price target increased by analysts at KeyCorp from $200.00 to $215.00 in a report issued on Wednesday, Benzinga reports. The firm currently has an “overweight” rating on the information services provider’s stock. KeyCorp’s target price points to a potential upside of 25.65% from the stock’s current price.

A number of other research analysts also recently issued reports on GOOGL. Cantor Fitzgerald restated a “neutral” rating and issued a $190.00 price target on shares of Alphabet in a research report on Monday, October 7th. Pivotal Research upgraded Alphabet to a “strong-buy” rating in a research note on Tuesday, October 1st. Wedbush reiterated an “outperform” rating and set a $205.00 price target on shares of Alphabet in a research report on Thursday, October 24th. Wolfe Research assumed coverage on Alphabet in a research report on Tuesday, July 16th. They set an “outperform” rating and a $240.00 price objective for the company. Finally, Royal Bank of Canada increased their target price on Alphabet from $204.00 to $210.00 and gave the stock an “outperform” rating in a research report on Wednesday. Seven investment analysts have rated the stock with a hold rating, thirty-one have given a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $205.51.

Alphabet Stock Down 1.9 %

NASDAQ:GOOGL opened at $171.11 on Wednesday. The stock has a 50-day simple moving average of $162.32 and a 200 day simple moving average of $168.79. Alphabet has a one year low of $122.68 and a one year high of $191.75. The company has a market capitalization of $2.11 trillion, a price-to-earnings ratio of 26.24, a price-to-earnings-growth ratio of 1.27 and a beta of 1.04. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 2.08.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. The business had revenue of $88.27 billion during the quarter, compared to the consensus estimate of $72.85 billion. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. During the same period in the previous year, the business earned $1.55 EPS. Sell-side analysts predict that Alphabet will post 7.65 EPS for the current fiscal year.

Insider Buying and Selling at Alphabet

In related news, SVP Prabhakar Raghavan sold 34,257 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $162.60, for a total value of $5,570,188.20. Following the completion of the transaction, the senior vice president now owns 312,210 shares of the company’s stock, valued at approximately $50,765,346. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Alphabet news, CAO Amie Thuener O’toole sold 1,367 shares of Alphabet stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $168.84, for a total transaction of $230,804.28. Following the transaction, the chief accounting officer now owns 29,183 shares of the company’s stock, valued at $4,927,257.72. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Prabhakar Raghavan sold 34,257 shares of the stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $162.60, for a total transaction of $5,570,188.20. Following the completion of the sale, the senior vice president now directly owns 312,210 shares of the company’s stock, valued at $50,765,346. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 219,744 shares of company stock valued at $35,878,764. 11.55% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in GOOGL. Burns J W & Co. Inc. NY grew its position in Alphabet by 7.4% in the first quarter. Burns J W & Co. Inc. NY now owns 24,861 shares of the information services provider’s stock worth $3,752,000 after acquiring an additional 1,720 shares in the last quarter. Grimes & Company Inc. boosted its holdings in Alphabet by 1.6% in the first quarter. Grimes & Company Inc. now owns 176,121 shares of the information services provider’s stock worth $26,582,000 after purchasing an additional 2,727 shares in the last quarter. Saratoga Research & Investment Management increased its position in Alphabet by 19.1% during the first quarter. Saratoga Research & Investment Management now owns 1,001,128 shares of the information services provider’s stock worth $151,100,000 after buying an additional 160,884 shares during the last quarter. First Bank & Trust raised its holdings in Alphabet by 2.5% during the first quarter. First Bank & Trust now owns 9,694 shares of the information services provider’s stock valued at $1,463,000 after buying an additional 239 shares in the last quarter. Finally, Baker Ellis Asset Management LLC lifted its position in shares of Alphabet by 5.7% in the first quarter. Baker Ellis Asset Management LLC now owns 21,355 shares of the information services provider’s stock worth $3,223,000 after buying an additional 1,150 shares during the last quarter. 40.03% of the stock is owned by hedge funds and other institutional investors.

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.