Alphabet (NASDAQ:GOOGL) Price Target Raised to $145.00 at Credit Suisse Group

Alphabet (NASDAQ:GOOGL – Get Rating) had its price target increased by Credit Suisse Group from $128.00 to $145.00 in a research report issued on Wednesday, The Fly reports. Credit Suisse Group’s price objective would indicate a potential upside of 48.41% from the company’s current price.

A number of other equities research analysts have also recently issued reports on the company. Atlantic Securities decreased their target price on Alphabet to $115.00 in a research report on Thursday, October 27th. Mizuho decreased their target price on Alphabet from $140.00 to $135.00 and set a “buy” rating for the company in a research report on Wednesday, November 30th. MKM Partners decreased their target price on Alphabet from $140.00 to $134.00 and set a “buy” rating for the company in a research report on Wednesday, October 19th. Citigroup decreased their target price on Alphabet from $140.00 to $120.00 and set a “buy” rating for the company in a research report on Wednesday, October 26th. Finally, Royal Bank of Canada reduced their price objective on Alphabet from $135.00 to $130.00 and set an “outperform” rating for the company in a research report on Wednesday, October 26th. Five equities research analysts have rated the stock with a hold rating, thirty-two have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Alphabet presently has an average rating of “Moderate Buy” and an average target price of $132.55.

Alphabet Price Performance

Shares of GOOGL opened at $97.70 on Wednesday. The company has a market capitalization of $1.26 trillion, a price-to-earnings ratio of 19.40, a P/E/G ratio of 1.75 and a beta of 1.09. Alphabet has a fifty-two week low of $83.34 and a fifty-two week high of $151.55. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.52 and a quick ratio of 2.47. The business’s 50-day moving average is $93.10 and its 200-day moving average is $101.38.

Alphabet (NASDAQ:GOOGL – Get Rating) last issued its earnings results on Tuesday, October 25th. The information services provider reported $1.06 earnings per share for the quarter, missing analysts’ consensus estimates of $1.25 by ($0.19). The business had revenue of $57.27 billion during the quarter, compared to analyst estimates of $58.36 billion. Alphabet had a net margin of 23.75% and a return on equity of 26.41%. During the same quarter in the prior year, the company earned $1.40 EPS. Equities research analysts expect that Alphabet will post 4.68 EPS for the current fiscal year.

Insider Activity at Alphabet

In other Alphabet news, major shareholder 2017 Gp L.L.C. Gv sold 107,393 shares of the business’s stock in a transaction that occurred on Monday, October 31st. The stock was sold at an average price of $38.64, for a total transaction of $4,149,665.52. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, major shareholder 2017 Gp L.L.C. Gv sold 107,393 shares of Alphabet stock in a transaction that occurred on Monday, October 31st. The stock was sold at an average price of $38.64, for a total transaction of $4,149,665.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Amie Thuener O’toole sold 855 shares of Alphabet stock in a transaction that occurred on Wednesday, January 4th. The stock was sold at an average price of $91.15, for a total value of $77,933.25. Following the transaction, the chief accounting officer now owns 25,122 shares of the company’s stock, valued at $2,289,870.30. The disclosure for this sale can be found here. In the last quarter, insiders have bought 661,702 shares of company stock valued at $23,399,217 and have sold 190,464 shares valued at $8,535,735. 11.44% of the stock is owned by insiders.

Institutional Trading of Alphabet

Several institutional investors have recently added to or reduced their stakes in the company. Spreng Capital Management Inc. raised its position in Alphabet by 4.0% in the 1st quarter. Spreng Capital Management Inc. now owns 131 shares of the information services provider’s stock valued at $364,000 after buying an additional 5 shares during the last quarter. Ignite Planners LLC raised its position in Alphabet by 1.4% in the 2nd quarter. Ignite Planners LLC now owns 351 shares of the information services provider’s stock valued at $834,000 after buying an additional 5 shares during the last quarter. Kaizen Financial Strategies raised its position in Alphabet by 0.7% in the 2nd quarter. Kaizen Financial Strategies now owns 759 shares of the information services provider’s stock valued at $1,654,000 after buying an additional 5 shares during the last quarter. West Family Investments Inc. raised its position in Alphabet by 0.3% in the 1st quarter. West Family Investments Inc. now owns 1,754 shares of the information services provider’s stock valued at $4,878,000 after buying an additional 6 shares during the last quarter. Finally, Maple Capital Management Inc. raised its position in Alphabet by 2.1% in the 1st quarter. Maple Capital Management Inc. now owns 296 shares of the information services provider’s stock valued at $823,000 after buying an additional 6 shares during the last quarter. 34.06% of the stock is currently owned by institutional investors.

Alphabet Company Profile

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Alphabet, Inc is a holding company, which engages in the business of acquisition and operation of different companies. It operates through the Google and Other Bets segments. The Google segment includes its main Internet products such as ads, Android, Chrome, hardware, Google Cloud, Google Maps, Google Play, Search, and YouTube.