Alphabet (NASDAQ:GOOGL) Given New $165.00 Price Target at Redburn Atlantic

Alphabet (NASDAQ:GOOGLFree Report) had its price objective lifted by Redburn Atlantic from $150.00 to $165.00 in a research report released on Wednesday, Benzinga reports. The firm currently has a buy rating on the information services provider’s stock.

Several other brokerages have also recently weighed in on GOOGL. Monness Crespi & Hardt cut Alphabet from a buy rating to a neutral rating in a research note on Wednesday, October 25th. Wells Fargo & Company increased their price target on Alphabet from $126.00 to $129.00 and gave the company an equal weight rating in a research note on Thursday, November 16th. Needham & Company LLC increased their price target on Alphabet from $140.00 to $160.00 and gave the company a buy rating in a research note on Wednesday, October 25th. Royal Bank of Canada reissued an outperform rating and issued a $155.00 price target on shares of Alphabet in a research note on Wednesday, October 25th. Finally, Roth Mkm increased their price target on Alphabet from $152.00 to $166.00 and gave the company a buy rating in a research note on Thursday, December 7th. Five research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Alphabet has a consensus rating of Moderate Buy and a consensus target price of $152.86.

Read Our Latest Report on GOOGL

Alphabet Price Performance

Shares of GOOGL stock opened at $140.10 on Wednesday. The company has a quick ratio of 2.01, a current ratio of 2.04 and a debt-to-equity ratio of 0.05. Alphabet has a twelve month low of $88.57 and a twelve month high of $153.78. The company has a market cap of $1.75 trillion, a P/E ratio of 26.89, a P/E/G ratio of 1.35 and a beta of 1.05. The business has a fifty day simple moving average of $139.45 and a 200 day simple moving average of $134.61.

Alphabet (NASDAQ:GOOGLGet Free Report) last issued its earnings results on Tuesday, January 30th. The information services provider reported $1.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.60 by $0.04. Alphabet had a return on equity of 25.24% and a net margin of 22.46%. The business had revenue of $86.31 billion during the quarter, compared to analysts’ expectations of $70.77 billion. During the same quarter in the prior year, the firm earned $1.05 EPS. On average, sell-side analysts forecast that Alphabet will post 5.77 EPS for the current fiscal year.

Insider Activity at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 425 shares of the firm’s stock in a transaction on Friday, November 3rd. The stock was sold at an average price of $129.08, for a total value of $54,859.00. Following the completion of the sale, the chief accounting officer now directly owns 26,413 shares of the company’s stock, valued at $3,409,390.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Alphabet news, Director Frances Arnold sold 230 shares of the firm’s stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $154.06, for a total value of $35,433.80. Following the completion of the sale, the director now directly owns 15,104 shares of the company’s stock, valued at $2,326,922.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Amie Thuener O’toole sold 425 shares of Alphabet stock in a transaction on Friday, November 3rd. The shares were sold at an average price of $129.08, for a total value of $54,859.00. Following the completion of the transaction, the chief accounting officer now owns 26,413 shares of the company’s stock, valued at $3,409,390.04. The disclosure for this sale can be found here. Over the last three months, insiders sold 189,439 shares of company stock valued at $25,954,116. 0.88% of the stock is owned by insiders.

Hedge Funds Weigh In On Alphabet

Several hedge funds have recently made changes to their positions in GOOGL. Vanguard Group Inc. boosted its stake in Alphabet by 1,919.4% during the third quarter. Vanguard Group Inc. now owns 477,035,902 shares of the information services provider’s stock valued at $45,628,484,000 after buying an additional 453,413,389 shares during the period. State Street Corp boosted its stake in Alphabet by 1,900.6% during the third quarter. State Street Corp now owns 217,154,306 shares of the information services provider’s stock valued at $20,770,809,000 after buying an additional 206,300,042 shares during the period. Moneta Group Investment Advisors LLC boosted its stake in Alphabet by 111,197.8% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 170,420,243 shares of the information services provider’s stock valued at $15,036,178,000 after buying an additional 170,267,122 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in Alphabet by 1,759.2% during the third quarter. Price T Rowe Associates Inc. MD now owns 116,116,066 shares of the information services provider’s stock valued at $11,106,502,000 after buying an additional 109,870,525 shares during the period. Finally, Norges Bank bought a new stake in Alphabet during the fourth quarter valued at $8,335,063,000. 35.08% of the stock is currently owned by hedge funds and other institutional investors.

Alphabet Company Profile

(Get Free Report)

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, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.

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Analyst Recommendations for Alphabet (NASDAQ:GOOGL)

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