Alphabet (NASDAQ:GOOGL) PT Raised to $200.00 at Robert W. Baird

Alphabet (NASDAQ:GOOGL) had its target price hoisted by Robert W. Baird from $160.00 to $200.00 in a report released on Friday, Benzinga reports. The firm presently has an “outperform” rating on the information services provider’s stock. Robert W. Baird’s price target points to a potential upside of 16.31% from the stock’s previous close.

A number of other equities research analysts have also issued reports on GOOGL. BMO Capital Markets reiterated an “outperform” rating and set a $185.00 target price (up from $178.00) on shares of Alphabet in a report on Wednesday, April 10th. Wedbush increased their target price on shares of Alphabet from $175.00 to $205.00 and gave the stock an “outperform” rating in a report on Friday. Jefferies Financial Group increased their price objective on shares of Alphabet from $175.00 to $180.00 and gave the company a “buy” rating in a research report on Friday, April 19th. Rosenblatt Securities increased their price objective on shares of Alphabet from $172.00 to $182.00 and gave the company a “buy” rating in a research report on Friday. Finally, Morgan Stanley increased their price objective on shares of Alphabet from $165.00 to $195.00 and gave the company an “overweight” rating in a research report on Friday. Five investment analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, Alphabet has a consensus rating of “Moderate Buy” and an average price target of $187.82.

Alphabet Price Performance

Alphabet stock opened at $171.95 on Friday. The firm has a market cap of $2.14 trillion, a PE ratio of 26.37, a price-to-earnings-growth ratio of 1.43 and a beta of 1.05. Alphabet has a 52-week low of $103.54 and a 52-week high of $174.71. The company has a quick ratio of 2.10, a current ratio of 2.10 and a debt-to-equity ratio of 0.05. The company’s 50 day moving average is $147.85 and its two-hundred day moving average is $141.42.

Alphabet (NASDAQ:GOOGL) last released 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. The company had revenue of $86.31 billion for the quarter, compared to analyst estimates of $70.77 billion. Alphabet had a net margin of 25.90% and a return on equity of 30.01%. During the same period in the prior year, the business earned $1.05 EPS. On average, research analysts expect that Alphabet will post 6.79 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CAO Amie Thuener O’toole sold 660 shares of the firm’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $143.59, for a total value of $94,769.40. Following the completion of the sale, the chief accounting officer now owns 27,920 shares in the company, valued at approximately $4,009,032.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, SVP Prabhakar Raghavan sold 3,258 shares of the firm’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $155.97, for a total value of $508,150.26. Following the completion of the sale, the senior vice president now owns 144,685 shares in the company, valued at approximately $22,566,519.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Amie Thuener O’toole sold 660 shares of the firm’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $143.59, for a total transaction of $94,769.40. Following the completion of the sale, the chief accounting officer now owns 27,920 shares of the company’s stock, valued at approximately $4,009,032.80. The disclosure for this sale can be found here. Insiders sold a total of 253,439 shares of company stock worth $36,746,578 in the last 90 days. Company insiders own 0.88% of the company’s stock.

Institutional Trading of Alphabet

Several hedge funds and other institutional investors have recently made changes to their positions in GOOGL. Vermillion & White Wealth Management Group LLC acquired a new stake in shares of Alphabet in the fourth quarter valued at about $30,000. Tributary Capital Management LLC acquired a new stake in shares of Alphabet in the first quarter valued at about $30,000. DiNuzzo Private Wealth Inc. acquired a new stake in shares of Alphabet in the fourth quarter valued at about $38,000. Meritage Group LP lifted its stake in shares of Alphabet by 1,061.5% in the third quarter. Meritage Group LP now owns 302 shares of the information services provider’s stock valued at $40,000 after purchasing an additional 276 shares during the period. Finally, Macroview Investment Management LLC lifted its stake in shares of Alphabet by 165.8% in the third quarter. Macroview Investment Management LLC now owns 319 shares of the information services provider’s stock valued at $42,000 after purchasing an additional 199 shares during the period. Institutional investors and hedge funds 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.