Alphabet (NASDAQ:GOOG) Price Target Raised to $192.00 at UBS Group

Alphabet (NASDAQ:GOOG) had its price objective raised by UBS Group from $187.00 to $192.00 in a research report sent to investors on Wednesday, Benzinga reports. They currently have a neutral rating on the information services provider’s stock.

Other equities research analysts also recently issued reports about the company. Scotiabank initiated coverage on Alphabet in a report on Friday, October 11th. They issued a “sector outperform” rating and a $212.00 target price for the company. TD Cowen boosted their target price on shares of Alphabet from $200.00 to $220.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. Oppenheimer dropped their price objective on Alphabet from $210.00 to $185.00 and set an “outperform” rating on the stock in a research note on Wednesday, September 25th. Cantor Fitzgerald upgraded Alphabet to a “hold” rating in a research note on Thursday, September 5th. Finally, Wolfe Research raised Alphabet to a “strong-buy” rating in a research report on Tuesday, July 16th. Five research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $200.56.

Alphabet Stock Up 2.9 %

Shares of NASDAQ GOOG opened at $176.14 on Wednesday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 2.08. Alphabet has a 52 week low of $123.93 and a 52 week high of $193.31. The stock has a market capitalization of $2.18 trillion, a P/E ratio of 27.02, a PEG ratio of 1.27 and a beta of 1.04. The stock’s fifty day moving average is $163.56 and its 200 day moving average is $170.30.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, beating the consensus estimate of $1.83 by $0.29. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The firm had revenue of $88.27 billion during the quarter, compared to the consensus estimate of $86.39 billion. During the same period last year, the company earned $1.55 earnings per share. The business’s quarterly revenue was up 15.1% on a year-over-year basis. Sell-side analysts forecast that Alphabet will post 7.64 earnings per share for the current fiscal year.

Insider Buying and Selling at Alphabet

In other news, CAO Amie Thuener O’toole sold 1,367 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $168.84, for a total value of $230,804.28. Following the completion of the transaction, the chief accounting officer now directly owns 29,183 shares in the company, valued at approximately $4,927,257.72. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, SVP Prabhakar Raghavan sold 34,257 shares of Alphabet stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $162.60, for a total transaction of $5,570,188.20. Following the completion of the sale, the senior vice president now owns 312,210 shares in the company, valued at approximately $50,765,346. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Amie Thuener O’toole sold 1,367 shares of the company’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $168.84, for a total transaction of $230,804.28. Following the completion of the transaction, the chief accounting officer now owns 29,183 shares in the company, valued at approximately $4,927,257.72. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 220,426 shares of company stock valued at $35,993,340 in the last quarter. 12.99% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Alphabet

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Cullinan Associates Inc. raised its position in Alphabet by 8.4% during the first quarter. Cullinan Associates Inc. now owns 124,621 shares of the information services provider’s stock valued at $18,975,000 after purchasing an additional 9,612 shares in the last quarter. Westhampton Capital LLC boosted its stake in Alphabet by 23.9% in the first quarter. Westhampton Capital LLC now owns 4,040 shares of the information services provider’s stock worth $615,000 after buying an additional 780 shares in the last quarter. Deepwater Asset Management LLC raised its stake in shares of Alphabet by 18.5% during the first quarter. Deepwater Asset Management LLC now owns 89,082 shares of the information services provider’s stock worth $13,564,000 after acquiring an additional 13,927 shares in the last quarter. Exchange Capital Management Inc. boosted its stake in shares of Alphabet by 2.9% in the 1st quarter. Exchange Capital Management Inc. now owns 6,091 shares of the information services provider’s stock valued at $927,000 after purchasing an additional 170 shares in the last quarter. Finally, Financial Strategies Group Inc. grew its holdings in shares of Alphabet by 22.8% during the 1st quarter. Financial Strategies Group Inc. now owns 43,876 shares of the information services provider’s stock valued at $6,939,000 after purchasing an additional 8,156 shares during the last quarter. Hedge funds and other institutional investors own 27.26% 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.