Alphabet (NASDAQ:GOOGL) Stock Price Expected to Rise, DA Davidson Analyst Says

Alphabet (NASDAQ:GOOGL) had its target price lifted by research analysts at DA Davidson from $190.00 to $200.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has a “neutral” rating on the information services provider’s stock. DA Davidson’s price objective would indicate a potential upside of 0.05% from the company’s previous close.

Other research analysts also recently issued research reports about the company. Citizens Jmp downgraded Alphabet from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 2nd. Bank of America reiterated a “buy” rating and set a $210.00 target price on shares of Alphabet in a research note on Monday, December 23rd. JMP Securities restated a “market perform” rating on shares of Alphabet in a research note on Friday, January 10th. Truist Financial increased their price objective on shares of Alphabet from $220.00 to $225.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Finally, Stifel Nicolaus upped their target price on shares of Alphabet from $200.00 to $225.00 and gave the company a “buy” rating in a research note on Monday, January 13th. Nine investment analysts have rated the stock with a hold rating, thirty have given a buy rating and four have given a strong buy rating to the stock. According to MarketBeat.com, Alphabet presently has a consensus rating of “Moderate Buy” and a consensus price target of $209.44.

Alphabet Stock Up 1.0 %

NASDAQ GOOGL opened at $199.90 on Friday. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. Alphabet has a fifty-two week low of $130.66 and a fifty-two week high of $202.29. The business has a 50 day moving average price of $185.46 and a two-hundred day moving average price of $173.55. The stock has a market cap of $2.45 trillion, a PE ratio of 26.50, a P/E/G ratio of 1.27 and a beta of 0.98.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The business had revenue of $88.27 billion during the quarter, compared to analyst estimates of $72.85 billion. During the same period last year, the business earned $1.55 EPS. As a group, sell-side analysts predict that Alphabet will post 8.02 EPS for the current fiscal year.

Insider Activity at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 1,367 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $171.42, for a total value of $234,331.14. Following the completion of the sale, the chief accounting officer now directly owns 26,349 shares of the company’s stock, valued at $4,516,745.58. The trade was a 4.93 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Kavitark Ram Shriram sold 10,500 shares of the firm’s stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $180.78, for a total transaction of $1,898,190.00. Following the transaction, the director now owns 330,466 shares in the company, valued at $59,741,643.48. This represents a 3.08 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 133,387 shares of company stock worth $24,368,654. 11.55% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Alphabet

A number of institutional investors have recently modified their holdings of GOOGL. State Street Corp boosted its position in shares of Alphabet by 0.3% in the third quarter. State Street Corp now owns 222,555,548 shares of the information services provider’s stock valued at $36,910,838,000 after acquiring an additional 743,369 shares during the period. Geode Capital Management LLC increased its position in Alphabet by 2.0% during the third quarter. Geode Capital Management LLC now owns 134,030,679 shares of the information services provider’s stock worth $22,154,651,000 after acquiring an additional 2,626,431 shares during the period. JPMorgan Chase & Co. raised its stake in Alphabet by 7.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 63,667,407 shares of the information services provider’s stock valued at $10,559,240,000 after purchasing an additional 4,567,275 shares during the last quarter. Fisher Asset Management LLC boosted its holdings in Alphabet by 2.5% in the 3rd quarter. Fisher Asset Management LLC now owns 49,857,900 shares of the information services provider’s stock valued at $8,268,933,000 after purchasing an additional 1,237,385 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in Alphabet by 1.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 37,233,079 shares of the information services provider’s stock worth $6,175,106,000 after purchasing an additional 523,416 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.