Alphabet (NASDAQ:GOOGL) Price Target Raised to $220.00

Alphabet (NASDAQ:GOOGL) had its price objective upped by equities research analysts at Wedbush from $210.00 to $220.00 in a report issued on Monday,Benzinga reports. The brokerage presently has an “outperform” rating on the information services provider’s stock. Wedbush’s price target indicates a potential upside of 11.35% from the company’s previous close.

GOOGL has been the topic of a number of other reports. China Renaissance upgraded Alphabet from a “hold” rating to a “buy” rating in a research note on Thursday, October 31st. Royal Bank of Canada increased their price objective on shares of Alphabet from $204.00 to $210.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Loop Capital lifted their target price on shares of Alphabet from $170.00 to $185.00 and gave the company a “hold” rating in a research report on Wednesday, November 6th. DA Davidson started coverage on Alphabet in a report on Tuesday, September 10th. They set a “neutral” rating and a $170.00 price objective for the company. Finally, Evercore ISI boosted their price target on shares of Alphabet from $200.00 to $205.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Nine equities research analysts have rated the stock with a hold rating, thirty have assigned a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $206.82.

Alphabet Stock Up 3.0 %

Shares of Alphabet stock traded up $5.78 during trading on Monday, hitting $197.57. 11,448,393 shares of the stock traded hands, compared to its average volume of 16,688,908. The company has a fifty day moving average price of $180.24 and a two-hundred day moving average price of $172.46. Alphabet has a twelve month low of $130.66 and a twelve month high of $201.42. The stock has a market cap of $2.42 trillion, a P/E ratio of 26.20, a PEG ratio of 1.35 and a beta of 0.98. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.83 by $0.29. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The business had revenue of $88.27 billion during the quarter, compared to analyst estimates of $72.85 billion. During the same quarter in the previous year, the business earned $1.55 EPS. Equities research analysts predict that Alphabet will post 8.01 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CAO Amie Thuener O’toole sold 1,368 shares of Alphabet stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $191.55, for a total value of $262,040.40. Following the transaction, the chief accounting officer now directly owns 20,681 shares of the company’s stock, valued at $3,961,445.55. The trade was a 6.20 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John L. Hennessy sold 1,500 shares of the firm’s stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $164.95, for a total transaction of $247,425.00. Following the transaction, the director now owns 26,324 shares of the company’s stock, valued at approximately $4,342,143.80. The trade was a 5.39 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 155,887 shares of company stock worth $27,996,356 in the last ninety days. Company 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 business. LMR Partners LLP acquired a new position in shares of Alphabet during the 3rd quarter valued at $32,000. Kings Path Partners LLC acquired a new position in Alphabet during the second quarter worth $36,000. Denver PWM LLC bought a new position in shares of Alphabet in the second quarter valued at $41,000. Quarry LP bought a new stake in shares of Alphabet during the second quarter worth about $53,000. Finally, Teachers Insurance & Annuity Association of America acquired a new position in Alphabet during the 3rd quarter valued at about $66,000. Institutional investors and hedge funds 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.