Roth Mkm Forecasts Strong Price Appreciation for Alphabet (NASDAQ:GOOGL) Stock

Alphabet (NASDAQ:GOOGL) had its target price lifted by Roth Mkm from $206.00 to $212.00 in a research note issued to investors on Wednesday morning, Benzinga reports. The brokerage currently has a buy rating on the information services provider’s stock.

A number of other research analysts have also commented on the company. Tigress Financial upped their price target on Alphabet from $210.00 to $220.00 and gave the stock a “strong-buy” rating in a report on Thursday, September 26th. Argus increased their price target on shares of Alphabet from $200.00 to $215.00 and gave the company a “buy” rating in a report on Tuesday, July 16th. TD Securities upped their price target on Alphabet from $200.00 to $220.00 in a report on Wednesday, July 10th. UBS Group lifted their price objective on Alphabet from $200.00 to $204.00 and gave the stock a “neutral” rating in a report on Wednesday, July 24th. Finally, Scotiabank upgraded Alphabet to a “strong-buy” rating in a research note on Friday, October 11th. Seven analysts have rated the stock with a hold rating, thirty have given a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $205.51.

Alphabet Price Performance

NASDAQ GOOGL opened at $174.46 on Wednesday. Alphabet has a 1 year low of $122.68 and a 1 year high of $191.75. The company has a fifty day simple moving average of $162.17 and a 200 day simple moving average of $168.78. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.04. The company has a market cap of $2.16 trillion, a P/E ratio of 26.76, a P/E/G ratio of 1.27 and a beta of 1.04.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. The company had revenue of $88.27 billion during the quarter, compared to analysts’ expectations of $72.85 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. During the same period in the prior year, the company earned $1.55 earnings per share. On average, sell-side analysts predict that Alphabet will post 7.65 EPS for the current year.

Insider Transactions at Alphabet

In related news, SVP Prabhakar Raghavan sold 34,257 shares of Alphabet stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $162.60, for a total value of $5,570,188.20. Following the sale, the senior vice president now owns 312,210 shares of the company’s stock, valued at approximately $50,765,346. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $168.00, for a total value of $114,576.00. Following the completion of the transaction, the chief accounting officer now owns 31,334 shares of the company’s stock, valued at approximately $5,264,112. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Prabhakar Raghavan sold 34,257 shares of Alphabet stock in a transaction on Thursday, August 15th. The shares were 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 $50,765,346. The trade was 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 over the last three months. Company insiders own 11.55% of the company’s stock.

Hedge Funds Weigh In On Alphabet

A number of large investors have recently modified their holdings of the business. Burns J W & Co. Inc. NY increased its position in shares of Alphabet by 7.4% during the 1st quarter. Burns J W & Co. Inc. NY now owns 24,861 shares of the information services provider’s stock worth $3,752,000 after purchasing an additional 1,720 shares during the last quarter. Grimes & Company Inc. grew its stake in shares of Alphabet by 1.6% in the first quarter. Grimes & Company Inc. now owns 176,121 shares of the information services provider’s stock valued at $26,582,000 after buying an additional 2,727 shares in the last quarter. Saratoga Research & Investment Management increased its holdings in Alphabet by 19.1% during the first quarter. Saratoga Research & Investment Management now owns 1,001,128 shares of the information services provider’s stock worth $151,100,000 after buying an additional 160,884 shares during the last quarter. First Bank & Trust raised its position in Alphabet by 2.5% during the first quarter. First Bank & Trust now owns 9,694 shares of the information services provider’s stock worth $1,463,000 after acquiring an additional 239 shares in the last quarter. Finally, Baker Ellis Asset Management LLC lifted its stake in Alphabet by 5.7% in the first quarter. Baker Ellis Asset Management LLC now owns 21,355 shares of the information services provider’s stock valued at $3,223,000 after acquiring an additional 1,150 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.