Alphabet (NASDAQ:GOOGL) PT Raised to $200.00

Alphabet (NASDAQ:GOOGL) had its target price lifted by analysts at Raymond James from $160.00 to $200.00 in a report issued on Friday, Benzinga reports. The brokerage currently has an “outperform” rating on the information services provider’s stock. Raymond James’ price objective would suggest a potential upside of 16.73% from the company’s previous close.

A number of other brokerages have also recently commented on GOOGL. UBS Group upped their price target on shares of Alphabet from $150.00 to $166.00 and gave the company a “neutral” rating in a research note on Tuesday, April 16th. Wells Fargo & Company lifted their target price on shares of Alphabet from $141.00 to $168.00 and gave the company an “equal weight” rating in a research report on Friday. KeyCorp increased their price objective on Alphabet from $165.00 to $175.00 and gave the company an “overweight” rating in a research report on Monday. Wedbush boosted their price objective on shares of Alphabet from $175.00 to $205.00 and gave the stock an “outperform” rating in a report on Friday. Finally, Truist Financial increased their target price on Alphabet from $170.00 to $190.00 and gave the company a “buy” rating in a report on Friday. Five equities research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $185.18.

Alphabet Stock Up 9.8 %

NASDAQ:GOOGL traded up $15.33 during trading hours on Friday, hitting $171.33. 47,762,738 shares of the company traded hands, compared to its average volume of 30,432,857. 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 firm’s 50-day simple moving average is $147.22 and its 200-day simple moving average is $141.16. Alphabet has a one year low of $103.54 and a one year high of $174.71. The company has a market cap of $2.13 trillion, a PE ratio of 29.70, a PEG ratio of 1.47 and a beta of 1.05.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data 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. The business had revenue of $86.31 billion for the quarter, compared to analysts’ expectations of $70.77 billion. Alphabet had a return on equity of 27.22% and a net margin of 24.01%. During the same quarter in the previous year, the firm earned $1.05 earnings per share. Equities analysts predict that Alphabet will post 6.78 earnings per share for the current year.

Insider Activity

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $146.29, for a total transaction of $3,291,525.00. Following the completion of the sale, the chief executive officer now owns 2,377,691 shares of the company’s stock, valued at $347,832,416.39. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Sundar Pichai sold 22,500 shares of the company’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 transaction of $3,291,525.00. Following the sale, the chief executive officer now directly owns 2,377,691 shares of the company’s stock, valued at approximately $347,832,416.39. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Frances Arnold sold 230 shares of Alphabet stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $154.06, for a total value of $35,433.80. Following the completion of the transaction, the director now owns 15,104 shares of the company’s stock, valued at approximately $2,326,922.24. The disclosure for this sale can be found here. Insiders sold 251,339 shares of company stock valued at $36,377,482 in the last quarter. 0.88% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Alphabet

Hedge funds and other institutional investors have recently made changes to their positions in the company. Norges Bank purchased a new stake in shares of Alphabet during the fourth quarter valued at $15,441,917,000. FMR LLC grew its stake in Alphabet by 5.6% during the 3rd quarter. FMR LLC now owns 227,317,469 shares of the information services provider’s stock valued at $29,746,764,000 after acquiring an additional 12,070,681 shares in the last quarter. Vanguard Group Inc. lifted its position in Alphabet by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 493,810,251 shares of the information services provider’s stock worth $68,980,354,000 after buying an additional 6,374,756 shares in the last quarter. Public Employees Retirement Association of Colorado boosted its position in shares of Alphabet by 39,754.9% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 6,025,667 shares of the information services provider’s stock valued at $841,725,000 after acquiring an additional 6,010,548 shares during the last quarter. Finally, International Assets Investment Management LLC boosted its holdings in Alphabet by 4,894.1% in the 4th quarter. International Assets Investment Management LLC now owns 5,445,396 shares of the information services provider’s stock valued at $7,606,670,000 after purchasing an additional 5,336,359 shares during the last quarter. Institutional investors own 40.03% of the company’s stock.

Alphabet Company Profile

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.