Alphabet (NASDAQ:GOOGL) PT Raised to $190.00

Alphabet (NASDAQ:GOOGL) had its target price boosted by analysts at Canaccord Genuity Group from $180.00 to $190.00 in a research report issued on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the information services provider’s stock. Canaccord Genuity Group’s price objective suggests a potential upside of 22.21% from the stock’s previous close.

Several other equities analysts also recently issued reports on the stock. Wolfe Research upped their price objective on shares of Alphabet from $170.00 to $180.00 and gave the company an “outperform” rating in a research note on Wednesday, January 31st. Roth Mkm lowered their price objective on shares of Alphabet from $166.00 to $164.00 and set a “buy” rating for the company in a research note on Wednesday, January 31st. JMP Securities reaffirmed a “market outperform” rating and issued a $160.00 target price on shares of Alphabet in a research report on Wednesday, April 10th. Wells Fargo & Company lowered their price target on Alphabet from $144.00 to $141.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 3rd. Finally, UBS Group raised their price objective on Alphabet from $150.00 to $166.00 and gave the stock a “neutral” rating in a report on Tuesday. Five research analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $157.97.

Alphabet Trading Up 0.7 %

NASDAQ GOOGL opened at $155.47 on Wednesday. The stock has a market capitalization of $1.93 trillion, a P/E ratio of 26.81, a P/E/G ratio of 1.42 and a beta of 1.05. Alphabet has a 52-week low of $102.63 and a 52-week high of $160.22. The firm has a 50-day moving average price of $145.95 and a 200 day moving average price of $140.29. The company has a quick ratio of 2.10, a current ratio of 2.10 and a debt-to-equity ratio of 0.05.

Alphabet (NASDAQ:GOOGL) last issued its earnings results on Tuesday, January 30th. The information services provider reported $1.64 earnings per share for the quarter, topping the consensus estimate of $1.60 by $0.04. Alphabet had a net margin of 24.01% and a return on equity of 27.22%. The company had revenue of $86.31 billion for the quarter, compared to analyst estimates of $70.77 billion. During the same period in the prior year, the business posted $1.05 earnings per share. Equities research analysts expect that Alphabet will post 6.78 EPS for the current year.

Insider Buying and Selling at Alphabet

In other news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction on Wednesday, April 17th. The stock was sold at an average price of $157.41, for a total transaction of $3,541,725.00. Following the transaction, the chief executive officer now directly owns 2,303,011 shares of the company’s stock, valued at $362,516,961.51. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction on Wednesday, April 17th. The stock was sold at an average price of $157.41, for a total transaction of $3,541,725.00. Following the transaction, the chief executive officer now directly owns 2,303,011 shares of the company’s stock, valued at $362,516,961.51. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John L. Hennessy sold 800 shares of the firm’s stock in a transaction on Friday, April 12th. The shares were sold at an average price of $159.56, for a total value of $127,648.00. Following the transaction, the director now directly owns 7,991 shares in the company, valued at $1,275,043.96. The disclosure for this sale can be found here. Over the last three months, insiders have sold 251,339 shares of company stock worth $36,377,482. 0.88% of the stock is owned by insiders.

Hedge Funds Weigh In On Alphabet

A number of institutional investors have recently bought and sold shares of the stock. Aviance Capital Partners LLC boosted its position in Alphabet by 66.9% during the 1st quarter. Aviance Capital Partners LLC now owns 149,763 shares of the information services provider’s stock worth $22,604,000 after acquiring an additional 60,044 shares during the period. Mirador Capital Partners LP boosted its position in Alphabet by 3.3% during the 1st quarter. Mirador Capital Partners LP now owns 57,836 shares of the information services provider’s stock worth $8,729,000 after acquiring an additional 1,843 shares during the period. Francis Financial Inc. boosted its position in Alphabet by 9.7% during the 1st quarter. Francis Financial Inc. now owns 10,227 shares of the information services provider’s stock worth $1,544,000 after acquiring an additional 907 shares during the period. Mayfair Advisory Group LLC boosted its position in Alphabet by 18.1% during the 1st quarter. Mayfair Advisory Group LLC now owns 3,192 shares of the information services provider’s stock worth $482,000 after acquiring an additional 490 shares during the period. Finally, Financial Partners Group LLC boosted its position in Alphabet by 6.7% during the 1st quarter. Financial Partners Group LLC now owns 76,397 shares of the information services provider’s stock worth $11,531,000 after acquiring an additional 4,767 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.