Alphabet (NASDAQ:GOOGL) PT Lowered to $190.00

Alphabet (NASDAQ:GOOGL) had its target price lowered by stock analysts at Morgan Stanley from $205.00 to $190.00 in a research report issued on Tuesday, Benzinga reports. The firm currently has an “overweight” rating on the information services provider’s stock. Morgan Stanley’s target price points to a potential upside of 21.44% from the company’s previous close.

A number of other research analysts have also weighed in on the company. Mizuho raised their target price on Alphabet from $205.00 to $210.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. Jefferies Financial Group raised their target price on Alphabet from $215.00 to $220.00 in a research report on Tuesday, July 9th. Stifel Nicolaus reissued a “buy” rating and issued a $196.00 price target on shares of Alphabet in a report on Wednesday, May 15th. BMO Capital Markets reiterated an “outperform” rating and issued a $222.00 target price on shares of Alphabet in a research note on Tuesday, August 6th. Finally, Wedbush reissued an “outperform” rating and set a $205.00 target price on shares of Alphabet in a research report on Monday, July 22nd. Six research analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $203.17.

Alphabet Stock Performance

GOOGL opened at $156.45 on Tuesday. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08 and a quick ratio of 2.08. The business has a fifty day simple moving average of $172.04 and a 200 day simple moving average of $164.11. Alphabet has a 1 year low of $120.21 and a 1 year high of $191.75. The company has a market capitalization of $1.93 trillion, a PE ratio of 24.00, a price-to-earnings-growth ratio of 1.22 and a beta of 1.05.

Alphabet (NASDAQ:GOOGL) last issued its quarterly 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 for 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 quarter in the prior year, the business posted $1.44 earnings per share. Research analysts expect that Alphabet will post 7.63 EPS for the current year.

Insiders Place Their Bets

In other news, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $160.44, for a total transaction of $109,420.08. Following the transaction, the chief accounting officer now directly owns 32,017 shares of the company’s stock, valued at approximately $5,136,807.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $160.44, for a total transaction of $109,420.08. Following the transaction, the chief accounting officer now owns 32,017 shares in the company, valued at approximately $5,136,807.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Prabhakar Raghavan sold 3,262 shares of the firm’s stock in a transaction 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 completion of 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. In the last 90 days, insiders sold 134,065 shares of company stock valued at $22,841,690. 11.55% of the stock is owned by insiders.

Institutional Investors Weigh In On Alphabet

A number of hedge funds have recently bought and sold shares of 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 worth $26,000 after purchasing an additional 60 shares during the period. Vermillion & White Wealth Management Group LLC purchased a new stake in Alphabet in the fourth quarter worth $30,000. Tributary Capital Management LLC bought a new position in shares of Alphabet in the first quarter worth about $30,000. Kings Path Partners LLC bought a new stake in shares of Alphabet during the second quarter valued at approximately $36,000. Finally, DiNuzzo Private Wealth Inc. purchased a new position in Alphabet during the 4th quarter worth $38,000. 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.