Evercore ISI Increases Alphabet (NASDAQ:GOOGL) Price Target to $220.00

Alphabet (NASDAQ:GOOGL) had its price target upped by equities researchers at Evercore ISI from $160.00 to $220.00 in a research report issued on Friday, Benzinga reports. The firm presently has an “outperform” rating on the information services provider’s stock. Evercore ISI’s price objective suggests a potential upside of 41.03% from the stock’s previous close.

A number of other analysts also recently weighed in on GOOGL. Truist Financial increased their price target on shares of Alphabet from $158.00 to $170.00 and gave the company a “buy” rating in a report on Wednesday, April 17th. KeyCorp raised their price objective on shares of Alphabet from $165.00 to $175.00 and gave the stock an “overweight” rating in a report on Monday. Wells Fargo & Company cut their price target on shares of Alphabet from $144.00 to $141.00 and set an “equal weight” rating for the company in a report on Wednesday, April 3rd. Roth Mkm cut their price target on shares of Alphabet from $166.00 to $164.00 and set a “buy” rating for the company in a report on Wednesday, January 31st. Finally, Mizuho raised their price objective on shares of Alphabet from $170.00 to $190.00 and gave the company a “buy” rating in a research report on Friday. Five analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $173.00.

Alphabet Stock Performance

Shares of GOOGL opened at $156.00 on Friday. Alphabet has a 12 month low of $102.63 and a 12 month high of $160.22. The company’s fifty day moving average is $147.22 and its 200-day moving average is $141.16. 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 has a market cap of $1.94 trillion, a price-to-earnings ratio of 26.90, a price-to-earnings-growth ratio of 1.47 and a beta of 1.05.

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

Insider Activity

In related news, CAO Amie Thuener O’toole sold 660 shares of the firm’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $143.59, for a total transaction of $94,769.40. Following the transaction, the chief accounting officer now directly owns 27,920 shares of the company’s stock, valued at $4,009,032.80. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Alphabet news, Director Frances Arnold sold 230 shares of the stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $154.06, for a total transaction of $35,433.80. Following the sale, the director now directly owns 15,104 shares in the company, valued at $2,326,922.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Amie Thuener O’toole sold 660 shares of the stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $143.59, for a total transaction of $94,769.40. Following the sale, the chief accounting officer now owns 27,920 shares in the company, valued at $4,009,032.80. The disclosure for this sale can be found here. Insiders have sold 251,339 shares of company stock valued at $36,377,482 over the last ninety days. 0.88% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Alphabet

A number of hedge funds have recently made changes to their positions in GOOGL. Chico Wealth RIA acquired a new stake in shares of Alphabet in the 3rd quarter valued at approximately $330,000. Summit Global Investments boosted its position in Alphabet by 67.7% during the 3rd quarter. Summit Global Investments now owns 241,463 shares of the information services provider’s stock worth $31,598,000 after buying an additional 97,466 shares during the period. Prentice Wealth Management LLC boosted its position in Alphabet by 18.1% during the 3rd quarter. Prentice Wealth Management LLC now owns 7,140 shares of the information services provider’s stock worth $934,000 after buying an additional 1,096 shares during the period. Sunflower Bank N.A. boosted its position in Alphabet by 6.3% during the 3rd quarter. Sunflower Bank N.A. now owns 5,951 shares of the information services provider’s stock worth $779,000 after buying an additional 353 shares during the period. Finally, David J Yvars Group raised its holdings in Alphabet by 10.3% during the 3rd quarter. David J Yvars Group now owns 4,170 shares of the information services provider’s stock worth $546,000 after purchasing an additional 390 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.

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.