Alphabet (NASDAQ:GOOGL) Shares Up 1.5% – What’s Next?

Alphabet Inc. (NASDAQ:GOOGL)’s share price shot up 1.5% during mid-day trading on Friday . The stock traded as high as $165.58 and last traded at $165.10. 5,382,241 shares traded hands during trading, a decline of 80% from the average session volume of 26,772,840 shares. The stock had previously closed at $162.72.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on GOOGL. UBS Group increased their price objective on Alphabet from $200.00 to $204.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 24th. Royal Bank of Canada raised their target price on Alphabet from $200.00 to $204.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. Citigroup raised their target price on Alphabet from $190.00 to $212.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Needham & Company LLC restated a “buy” rating and issued a $210.00 target price on shares of Alphabet in a research note on Tuesday, October 15th. Finally, Piper Sandler restated an “overweight” rating and issued a $200.00 target price on shares of Alphabet in a research note on Monday, September 30th. Seven equities research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have given a strong buy rating to the company’s stock. According to MarketBeat.com, Alphabet currently has an average rating of “Moderate Buy” and a consensus price target of $201.76.

Alphabet Price Performance

The company’s 50-day simple moving average is $161.95 and its 200-day simple moving average is $168.51. The stock has a market capitalization of $2.03 trillion, a price-to-earnings ratio of 23.71, a P/E/G ratio of 1.27 and a beta of 1.04. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08 and a quick ratio of 2.08.

Insider Activity

In related news, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $168.00, for a total transaction of $114,576.00. Following the sale, the chief accounting officer now owns 31,334 shares of the company’s stock, valued at $5,264,112. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $162.35, for a total value of $3,652,875.00. Following the sale, the chief executive officer now owns 2,182,385 shares of the company’s stock, valued at approximately $354,310,204.75. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $168.00, for a total value of $114,576.00. Following the completion of the sale, the chief accounting officer now directly owns 31,334 shares in the company, valued at approximately $5,264,112. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 220,426 shares of company stock valued at $35,993,340. 11.55% of the stock is owned by company insiders.

Institutional Investors Weigh In On Alphabet

A number of large investors have recently modified their holdings of GOOGL. DGS Capital Management LLC raised its position in Alphabet by 32.6% during the 1st quarter. DGS Capital Management LLC now owns 14,379 shares of the information services provider’s stock worth $2,170,000 after purchasing an additional 3,532 shares during the last quarter. Clarity Financial LLC raised its position in Alphabet by 4.8% during the 1st quarter. Clarity Financial LLC now owns 4,956 shares of the information services provider’s stock worth $748,000 after purchasing an additional 227 shares during the last quarter. Ellis Investment Partners LLC raised its position in Alphabet by 8.6% during the 1st quarter. Ellis Investment Partners LLC now owns 28,548 shares of the information services provider’s stock worth $4,309,000 after purchasing an additional 2,258 shares during the last quarter. Affiance Financial LLC raised its position in Alphabet by 4.5% during the 1st quarter. Affiance Financial LLC now owns 9,350 shares of the information services provider’s stock worth $1,411,000 after purchasing an additional 400 shares during the last quarter. Finally, S.A. Mason LLC raised its position in Alphabet by 1.5% during the 1st quarter. S.A. Mason LLC now owns 10,587 shares of the information services provider’s stock worth $1,598,000 after purchasing an additional 155 shares during the last quarter. Institutional investors and hedge funds 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.