UBS Group Increases Alphabet (NASDAQ:GOOGL) Price Target to $166.00

Alphabet (NASDAQ:GOOGL) had its target price raised by UBS Group from $150.00 to $166.00 in a research note issued on Tuesday, Benzinga reports. The firm currently has a “neutral” rating on the information services provider’s stock. UBS Group’s price objective points to a potential upside of 6.77% from the company’s previous close.

GOOGL has been the topic of several other reports. Rosenblatt Securities reduced their target price on Alphabet from $174.00 to $172.00 and set a “buy” rating on the stock in a report on Wednesday, January 31st. Wedbush restated an “outperform” rating and issued a $175.00 price objective on shares of Alphabet in a research report on Wednesday, April 10th. Needham & Company LLC restated a “buy” rating and set a $160.00 target price on shares of Alphabet in a research report on Wednesday, January 31st. Citigroup reiterated a “buy” rating and issued a $168.00 price target on shares of Alphabet in a report on Wednesday, April 10th. Finally, Roth Mkm cut their target price on shares of Alphabet from $166.00 to $164.00 and set a “buy” rating on the stock in a research report on Wednesday, January 31st. Five investment analysts have rated the stock with a hold rating, twenty-six have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $157.00.

Alphabet Trading Up 0.7 %

Shares of Alphabet stock opened at $155.47 on Tuesday. The company’s fifty day moving average price is $145.95 and its two-hundred day moving average price is $140.29. The firm has a market capitalization of $1.93 trillion, a PE ratio of 26.81, a price-to-earnings-growth ratio of 1.43 and a beta of 1.05. Alphabet has a 52-week low of $102.63 and a 52-week high of $160.22. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.10 and a quick ratio of 2.10.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Tuesday, January 30th. The information services provider reported $1.64 earnings per share for the quarter, beating analysts’ consensus estimates of $1.60 by $0.04. Alphabet had a return on equity of 27.22% and a net margin of 24.01%. The company had revenue of $86.31 billion for the quarter, compared to the consensus estimate of $70.77 billion. During the same period in the previous year, the business earned $1.05 earnings per share. On average, analysts expect that Alphabet will post 6.78 EPS for the current year.

Insider Transactions at Alphabet

In other news, SVP Prabhakar Raghavan sold 3,258 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $155.97, for a total transaction of $508,150.26. Following the completion of the transaction, the senior vice president now directly owns 144,685 shares of the company’s stock, valued at approximately $22,566,519.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Alphabet news, SVP Prabhakar Raghavan sold 3,258 shares of the business’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $155.97, for a total transaction of $508,150.26. Following the sale, the senior vice president now directly owns 144,685 shares of the company’s stock, valued at approximately $22,566,519.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Frances Arnold sold 230 shares of the firm’s stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $154.06, for a total value of $35,433.80. Following the completion of the transaction, the director now owns 15,104 shares of the company’s stock, valued at approximately $2,326,922.24. The disclosure for this sale can be found here. Insiders sold 251,339 shares of company stock valued at $36,377,482 over the last three months. Company insiders own 0.88% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Vanguard Group Inc. grew its holdings 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 worth $45,628,484,000 after purchasing an additional 453,413,389 shares during the period. State Street Corp lifted its position in shares of Alphabet by 1,900.6% in 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 last quarter. Moneta Group Investment Advisors LLC boosted its stake in shares of Alphabet by 111,197.8% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 170,420,243 shares of the information services provider’s stock worth $15,036,178,000 after acquiring an additional 170,267,122 shares during the period. Norges Bank acquired a new position in shares of Alphabet during the 4th quarter worth approximately $15,441,917,000. Finally, Price T Rowe Associates Inc. MD raised its stake in Alphabet by 1,759.2% in the 3rd 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 acquiring an additional 109,870,525 shares during the period. 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.