Alphabet (NASDAQ:GOOGL) PT Raised to $200.00 at Barclays

Alphabet (NASDAQ:GOOGL) had its price objective upped by equities researchers at Barclays from $173.00 to $200.00 in a note issued to investors on Friday, Benzinga reports. The brokerage currently has an “overweight” rating on the information services provider’s stock. Barclays‘s price target would suggest a potential upside of 16.31% from the company’s previous close.

Other equities research analysts have also recently issued research reports about the stock. Jefferies Financial Group lifted their price target on shares of Alphabet from $175.00 to $180.00 and gave the company a “buy” rating in a research note on Friday, April 19th. 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, January 31st. Citigroup lifted their price target on shares of Alphabet from $168.00 to $190.00 and gave the company a “buy” rating in a research note on Friday. Wells Fargo & Company dropped their price target on shares of Alphabet from $144.00 to $141.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 3rd. Finally, JMP Securities reissued a “market outperform” rating and issued a $160.00 price target on shares of Alphabet in a research note on Wednesday, April 10th. Five analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Alphabet has a consensus rating of “Moderate Buy” and a consensus target price of $187.82.

Alphabet Price Performance

NASDAQ:GOOGL opened at $171.95 on Friday. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.10 and a quick ratio of 2.10. The firm has a market cap of $2.14 trillion, a price-to-earnings ratio of 26.37, a price-to-earnings-growth ratio of 1.43 and a beta of 1.05. The company has a 50 day moving average price of $147.85 and a 200-day moving average price of $141.42. Alphabet has a 1-year low of $103.54 and a 1-year high of $174.71.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Tuesday, January 30th. The information services provider reported $1.64 earnings per share for the quarter, beating the consensus estimate of $1.60 by $0.04. Alphabet had a net margin of 25.90% and a return on equity of 30.01%. The firm had revenue of $86.31 billion during the quarter, compared to analyst estimates of $70.77 billion. During the same period in the previous year, the firm earned $1.05 EPS. Equities research analysts forecast that Alphabet will post 6.79 EPS for the current year.

Insider Activity at Alphabet

In other news, Director Frances Arnold sold 230 shares of the stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $154.06, for a total transaction of $35,433.80. Following the sale, the director now owns 15,104 shares of the company’s stock, valued at $2,326,922.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Frances Arnold sold 230 shares of the stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $154.06, for a total transaction of $35,433.80. Following the sale, the director now owns 15,104 shares of the company’s stock, valued at $2,326,922.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Amie Thuener O’toole sold 660 shares of the stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $143.59, for a total transaction of $94,769.40. Following the sale, the chief accounting officer now directly owns 27,920 shares in the company, valued at approximately $4,009,032.80. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 253,439 shares of company stock worth $36,746,578. Company insiders own 0.88% of the company’s stock.

Institutional Trading of Alphabet

Several hedge funds have recently made changes to their positions in the business. Kellett Wealth Advisors LLC lifted its position in shares of Alphabet by 5.1% during the first quarter. Kellett Wealth Advisors LLC now owns 2,688 shares of the information services provider’s stock worth $406,000 after purchasing an additional 130 shares in the last quarter. Phoenix Wealth Advisors raised its holdings in Alphabet by 4.5% in the first quarter. Phoenix Wealth Advisors now owns 2,785 shares of the information services provider’s stock valued at $420,000 after acquiring an additional 120 shares in the last quarter. Fonville Wealth Management LLC raised its holdings in Alphabet by 6.7% in the first quarter. Fonville Wealth Management LLC now owns 1,598 shares of the information services provider’s stock valued at $241,000 after acquiring an additional 100 shares in the last quarter. Finer Wealth Management Inc. raised its holdings in Alphabet by 4.0% in the first quarter. Finer Wealth Management Inc. now owns 36,365 shares of the information services provider’s stock valued at $5,489,000 after acquiring an additional 1,396 shares in the last quarter. Finally, Foster Victor Wealth Advisors LLC raised its holdings in Alphabet by 4.8% in the first quarter. Foster Victor Wealth Advisors LLC now owns 132,521 shares of the information services provider’s stock valued at $21,125,000 after acquiring an additional 6,082 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

About Alphabet

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.