Rosenblatt Securities Reaffirms “Neutral” Rating for Alphabet (NASDAQ:GOOGL)

Alphabet (NASDAQ:GOOGL)‘s stock had its “neutral” rating reiterated by equities research analysts at Rosenblatt Securities in a report released on Wednesday,Benzinga reports. They currently have a $205.00 target price on the information services provider’s stock. Rosenblatt Securities’ price objective suggests a potential upside of 25.92% from the stock’s current price.

Several other equities analysts have also commented on GOOGL. Robert W. Baird reaffirmed an “outperform” rating and issued a $205.00 price target on shares of Alphabet in a research note on Tuesday, December 10th. Stifel Nicolaus upped their price target on Alphabet from $200.00 to $225.00 and gave the company a “buy” rating in a research note on Monday, January 13th. JPMorgan Chase & Co. cut their price objective on Alphabet from $232.00 to $220.00 and set an “overweight” rating on the stock in a report on Wednesday, February 5th. Citizens Jmp downgraded Alphabet from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 2nd. Finally, Morgan Stanley cut their price objective on Alphabet from $215.00 to $210.00 and set an “overweight” rating on the stock in a report on Wednesday, February 5th. Ten 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 company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $210.59.

Alphabet Stock Performance

Shares of NASDAQ:GOOGL opened at $162.80 on Wednesday. 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 business’s 50 day moving average price is $183.13 and its 200-day moving average price is $176.37. The firm has a market capitalization of $1.98 trillion, a PE ratio of 20.22, a P/E/G ratio of 1.34 and a beta of 1.02. Alphabet has a 1 year low of $146.90 and a 1 year high of $207.05.

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

Insider Buying and Selling

In other news, CAO Amie Thuener O’toole sold 1,368 shares of the business’s stock in a transaction 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 completion of 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 SEC, which is available through the SEC website. Also, insider John Kent Walker sold 16,820 shares of the business’s stock in a transaction on Monday, December 30th. The stock was sold at an average price of $192.62, for a total value of $3,239,868.40. Following the completion of the transaction, the insider now directly owns 43,981 shares of the company’s stock, valued at approximately $8,471,620.22. This trade represents a 27.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 93,048 shares of company stock valued at $17,374,274. 11.55% of the stock is owned by insiders.

Institutional Investors Weigh In On Alphabet

A number of hedge funds and other institutional investors have recently made changes to their positions in GOOGL. Pettinga Financial Advisors LLC grew its position in shares of Alphabet by 10.1% in the third quarter. Pettinga Financial Advisors LLC now owns 2,186 shares of the information services provider’s stock valued at $363,000 after purchasing an additional 201 shares during the period. Impax Asset Management Group plc grew its position in Alphabet by 6.8% during the third quarter. Impax Asset Management Group plc now owns 728,575 shares of the information services provider’s stock valued at $120,834,000 after acquiring an additional 46,677 shares during the period. Foster & Motley Inc. grew its position in Alphabet by 11.3% during the third quarter. Foster & Motley Inc. now owns 10,227 shares of the information services provider’s stock valued at $1,696,000 after acquiring an additional 1,040 shares during the period. Armor Investment Advisors LLC grew its position in Alphabet by 2.5% during the third quarter. Armor Investment Advisors LLC now owns 9,739 shares of the information services provider’s stock valued at $1,615,000 after acquiring an additional 233 shares during the period. Finally, White Lighthouse Investment Management Inc. grew its position in Alphabet by 0.8% during the third quarter. White Lighthouse Investment Management Inc. now owns 9,480 shares of the information services provider’s stock valued at $1,572,000 after acquiring an additional 74 shares during the period. 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.