Alphabet (NASDAQ:GOOGL) PT Raised to $210.00

Alphabet (NASDAQ:GOOGL) had its price target increased by analysts at Canaccord Genuity Group from $190.00 to $210.00 in a note issued to investors on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the information services provider’s stock. Canaccord Genuity Group’s price target would suggest a potential upside of 22.13% from the company’s previous close.

GOOGL has been the topic of a number of other research reports. Evercore ISI raised their target price on shares of Alphabet from $160.00 to $220.00 and gave the company an “outperform” rating in a research report on Friday. Citigroup raised their target price on shares of Alphabet from $168.00 to $190.00 and gave the company a “buy” rating in a research report on Friday. Truist Financial raised their target price on shares of Alphabet from $158.00 to $170.00 and gave the company a “buy” rating in a research report on Wednesday, April 17th. KeyCorp lifted their price objective on shares of Alphabet from $165.00 to $175.00 and gave the stock an “overweight” rating in a research report on Monday, April 22nd. Finally, Redburn Atlantic lifted their price objective on shares of Alphabet from $150.00 to $165.00 and gave the stock a “buy” rating in a research report on Wednesday, January 31st. Five analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, Alphabet currently has a consensus rating of “Moderate Buy” and a consensus target price of $187.82.

Alphabet Trading Up 10.2 %

Shares of 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 capitalization of $2.14 trillion, a price-to-earnings ratio of 26.37, a PEG ratio of 1.43 and a beta of 1.05. The company has a 50-day moving average of $147.85 and a 200 day moving average 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 EPS for the quarter, beating analysts’ consensus estimates of $1.60 by $0.04. The business had revenue of $86.31 billion for the quarter, compared to the consensus estimate of $70.77 billion. Alphabet had a net margin of 25.90% and a return on equity of 30.01%. During the same quarter last year, the firm posted $1.05 EPS. On average, research analysts expect that Alphabet will post 6.79 EPS for the current year.

Insider Activity at Alphabet

In related news, Director John L. Hennessy sold 2,100 shares of the business’s stock in a transaction on Friday, April 26th. The shares were sold at an average price of $175.76, for a total value of $369,096.00. Following the completion of the sale, the director now owns 5,891 shares of the company’s stock, valued at approximately $1,035,402.16. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CAO Amie Thuener O’toole sold 660 shares of the business’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 of the company’s stock, valued at approximately $4,009,032.80. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director John L. Hennessy sold 2,100 shares of the company’s stock in a transaction on Friday, April 26th. The stock was sold at an average price of $175.76, for a total transaction of $369,096.00. Following the sale, the director now directly owns 5,891 shares of the company’s stock, valued at approximately $1,035,402.16. 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 three months. Company insiders own 0.88% of the company’s stock.

Institutional Investors Weigh In On Alphabet

A number of large investors have recently modified their holdings of the business. Vanguard Group Inc. grew its holdings in shares of Alphabet by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 493,810,251 shares of the information services provider’s stock worth $68,980,354,000 after buying an additional 6,374,756 shares in the last quarter. FMR LLC grew its holdings in shares of Alphabet by 5.6% in the third quarter. FMR LLC now owns 227,317,469 shares of the information services provider’s stock valued at $29,746,764,000 after purchasing an additional 12,070,681 shares during the period. Norges Bank purchased a new stake in shares of Alphabet in the fourth quarter valued at about $15,441,917,000. Northern Trust Corp grew its holdings in shares of Alphabet by 3.7% in the third quarter. Northern Trust Corp now owns 67,684,197 shares of the information services provider’s stock valued at $8,857,154,000 after purchasing an additional 2,416,328 shares during the period. Finally, Fisher Asset Management LLC grew its holdings in shares of Alphabet by 3.4% in the fourth quarter. Fisher Asset Management LLC now owns 45,220,857 shares of the information services provider’s stock valued at $6,316,902,000 after purchasing an additional 1,472,043 shares during the period. Hedge funds and other 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.