Alphabet (NASDAQ:GOOGL) Price Target Raised to $166.00

Alphabet (NASDAQ:GOOGL) had its price target upped by UBS Group from $150.00 to $166.00 in a research report report published on Tuesday morning, Benzinga reports. They currently have a neutral rating on the information services provider’s stock.

A number of other research firms have also issued reports on GOOGL. BMO Capital Markets reiterated an outperform rating and set a $185.00 price objective (up from $178.00) on shares of Alphabet in a research note on Wednesday, April 10th. JMP Securities reissued a market outperform rating and issued a $160.00 price target on shares of Alphabet in a report on Wednesday, April 10th. Truist Financial cut their price objective on shares of Alphabet from $160.00 to $158.00 and set a buy rating for the company in a research report on Wednesday, January 31st. Susquehanna upped their target price on shares of Alphabet from $150.00 to $170.00 and gave the stock a positive rating in a report on Wednesday, January 31st. Finally, Wedbush reaffirmed an outperform rating and issued a $175.00 price target on shares of Alphabet in a report on Wednesday, April 10th. Five investment analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Alphabet has a consensus rating of Moderate Buy and an average price target of $157.97.

Alphabet Stock Up 0.3 %

Alphabet stock opened at $156.01 on Tuesday. The company has a quick ratio of 2.10, a current ratio of 2.10 and a debt-to-equity ratio of 0.05. The company has a market capitalization of $1.94 trillion, a P/E ratio of 26.90, a P/E/G ratio of 1.42 and a beta of 1.05. The firm has a 50 day moving average price of $146.16 and a 200-day moving average price of $140.40. Alphabet has a twelve month low of $102.63 and a twelve month high of $160.22.

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

Insiders Place Their Bets

In other news, CAO Amie Thuener O’toole sold 660 shares of the company’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $143.59, for a total value of $94,769.40. Following the sale, the chief accounting officer now directly owns 27,920 shares of the company’s stock, valued at approximately $4,009,032.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $146.29, for a total value of $3,291,525.00. Following the sale, the chief executive officer now owns 2,377,691 shares of the company’s stock, valued at $347,832,416.39. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Amie Thuener O’toole sold 660 shares of Alphabet stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $143.59, for a total value of $94,769.40. Following the completion of the transaction, the chief accounting officer now owns 27,920 shares of the company’s stock, valued at approximately $4,009,032.80. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 251,339 shares of company stock valued at $36,377,482. 0.88% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Alphabet

Hedge funds and other institutional investors have recently made changes to their positions in the business. Spreng Capital Management Inc. lifted its position in Alphabet by 4.0% during the 1st quarter. Spreng Capital Management Inc. now owns 131 shares of the information services provider’s stock worth $364,000 after acquiring an additional 5 shares in the last quarter. West Family Investments Inc. lifted its position in shares of Alphabet by 0.3% during the first quarter. West Family Investments Inc. now owns 1,754 shares of the information services provider’s stock worth $4,878,000 after purchasing an additional 6 shares in the last quarter. Maple Capital Management Inc. boosted its stake in shares of Alphabet by 2.1% in the first quarter. Maple Capital Management Inc. now owns 296 shares of the information services provider’s stock valued at $823,000 after purchasing an additional 6 shares during the period. Private Advisory Group LLC grew its holdings in Alphabet by 1.8% during the 1st quarter. Private Advisory Group LLC now owns 401 shares of the information services provider’s stock valued at $1,115,000 after purchasing an additional 7 shares in the last quarter. Finally, Weik Capital Management increased its stake in Alphabet by 0.5% during the 1st quarter. Weik Capital Management now owns 1,533 shares of the information services provider’s stock worth $4,264,000 after buying an additional 8 shares during the period. 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.