Alphabet (NASDAQ:GOOGL) Given New $208.00 Price Target at Piper Sandler

Alphabet (NASDAQ:GOOGL) had its target price reduced by equities researchers at Piper Sandler from $210.00 to $208.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the information services provider’s stock. Piper Sandler’s price target suggests a potential upside of 9.03% from the stock’s current price.

A number of other research analysts have also recently weighed in on the stock. The Goldman Sachs Group reissued a “buy” rating and set a $210.00 price objective on shares of Alphabet in a research note on Thursday, December 12th. BMO Capital Markets restated an “outperform” rating and set a $217.00 target price (up previously from $215.00) on shares of Alphabet in a report on Wednesday, October 30th. Citigroup cut their price objective on Alphabet from $232.00 to $229.00 and set a “buy” rating on the stock in a research report on Wednesday. Needham & Company LLC reissued a “buy” rating and set a $225.00 price target on shares of Alphabet in a research report on Wednesday. Finally, Roth Mkm increased their price target on Alphabet from $206.00 to $212.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Nine analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $210.95.

Alphabet Stock Down 7.6 %

GOOGL stock traded down $15.60 during trading on Wednesday, reaching $190.78. 39,873,907 shares of the company traded hands, compared to its average volume of 26,522,469. Alphabet has a 12 month low of $130.66 and a 12 month high of $207.05. The business has a 50 day simple moving average of $190.39 and a 200 day simple moving average of $174.40. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95. The company has a market capitalization of $2.34 trillion, a price-to-earnings ratio of 25.32, a price-to-earnings-growth ratio of 1.31 and a beta of 0.99.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, beating analysts’ consensus estimates of $2.12 by $0.03. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. On average, equities research analysts anticipate that Alphabet will post 8.02 earnings per share for the current fiscal year.

Insider Activity at Alphabet

In related news, CAO Amie Thuener O’toole sold 1,367 shares of the firm’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $170.41, for a total value of $232,950.47. Following the sale, the chief accounting officer now directly owns 23,515 shares of the company’s stock, valued at $4,007,191.15. This trade represents a 5.49 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $176.67, for a total value of $3,975,075.00. Following the sale, the chief executive officer now directly owns 2,061,806 shares in the company, valued at $364,259,266.02. The trade was a 1.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 100,029 shares of company stock valued at $18,462,883 in the last 90 days. 11.55% of the stock is owned by corporate insiders.

Institutional Trading of Alphabet

Hedge funds and other institutional investors have recently bought and sold shares of the business. Bennett Selby Investments LP raised its position in shares of Alphabet by 4.0% in the 4th quarter. Bennett Selby Investments LP now owns 1,354 shares of the information services provider’s stock worth $256,000 after buying an additional 52 shares during the period. Macroview Investment Management LLC increased its holdings in shares of Alphabet by 4.2% in the 4th quarter. Macroview Investment Management LLC now owns 1,293 shares of the information services provider’s stock worth $245,000 after acquiring an additional 52 shares during the period. Conrad Siegel Investment Advisors Inc. boosted its position in shares of Alphabet by 0.5% during the 4th quarter. Conrad Siegel Investment Advisors Inc. now owns 9,845 shares of the information services provider’s stock valued at $1,864,000 after purchasing an additional 53 shares in the last quarter. Cornerstone Planning Group LLC increased its stake in Alphabet by 2.3% in the 4th quarter. Cornerstone Planning Group LLC now owns 2,381 shares of the information services provider’s stock worth $457,000 after purchasing an additional 53 shares in the last quarter. Finally, Addison Advisors LLC increased its holdings in shares of Alphabet by 0.7% in the 4th quarter. Addison Advisors LLC now owns 7,527 shares of the information services provider’s stock valued at $1,425,000 after purchasing an additional 53 shares during the period. 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.