KeyCorp Issues Pessimistic Forecast for Alphabet (NASDAQ:GOOGL) Stock Price

Alphabet (NASDAQ:GOOGL) had its price target dropped by research analysts at KeyCorp from $220.00 to $202.00 in a report issued on Tuesday, MarketBeat reports. The firm currently has an “overweight” rating on the information services provider’s stock. KeyCorp’s price target points to a potential upside of 23.25% from the company’s previous close.

Several other equities research analysts also recently issued reports on the stock. Wolfe Research raised their price objective on shares of Alphabet from $220.00 to $230.00 and gave the stock an “outperform” rating in a research report on Friday, January 3rd. Bank of America reaffirmed a “buy” rating and set a $210.00 target price on shares of Alphabet in a report on Monday, December 23rd. Stifel Nicolaus raised their target price on shares of Alphabet from $200.00 to $225.00 and gave the stock a “buy” rating in a report on Monday, January 13th. Cantor Fitzgerald lowered their target price on shares of Alphabet from $215.00 to $210.00 and set a “neutral” rating on the stock in a report on Wednesday, January 22nd. Finally, Morgan Stanley lowered their target price on shares of Alphabet from $215.00 to $210.00 and set an “overweight” rating on the stock in a report on Wednesday, February 5th. Ten equities research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat, Alphabet presently has an average rating of “Moderate Buy” and an average price target of $210.59.

Alphabet Trading Up 2.0 %

Alphabet stock opened at $163.89 on Tuesday. The firm has a 50-day moving average of $183.75 and a 200-day moving average of $176.47. Alphabet has a one year low of $146.74 and a one year high of $207.05. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84. The company has a market cap of $2.00 trillion, a price-to-earnings ratio of 20.36, a P/E/G ratio of 1.34 and a beta of 1.02.

Alphabet (NASDAQ:GOOGL) last issued its earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.12 by $0.03. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. On average, equities analysts expect that Alphabet will post 8.9 earnings per share for the current fiscal year.

Insider Transactions at Alphabet

In related news, CAO Amie Thuener O’toole sold 1,368 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $191.55, for a total value of $262,040.40. Following the transaction, the chief accounting officer now owns 20,681 shares of the company’s stock, valued at approximately $3,961,445.55. This trade represents a 6.20 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director John L. Hennessy sold 200 shares of the firm’s stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $165.53, for a total transaction of $33,106.00. Following the completion of the transaction, the director now directly owns 7,813 shares in the company, valued at approximately $1,293,285.89. The trade was a 2.50 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 93,048 shares of company stock worth $17,374,274 over the last three months. 11.55% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Alphabet

Several large investors have recently added to or reduced their stakes in GOOGL. M1 Capital Management LLC purchased a new position in shares of Alphabet in the fourth quarter worth $838,000. DSG Capital Advisors LLC bought a new stake in Alphabet in the fourth quarter worth $18,398,000. Chancellor Financial Group WB LP bought a new stake in Alphabet in the fourth quarter worth $2,961,000. 111 Capital bought a new stake in Alphabet in the fourth quarter worth $3,599,000. Finally, Thoma Capital Management LLC bought a new stake in Alphabet in the fourth quarter worth $1,146,000. Hedge funds and other institutional investors 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.