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

Alphabet (NASDAQ:GOOGL) had its price target increased by analysts at Argus from $170.00 to $200.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage presently has a “buy” rating on the information services provider’s stock. Argus’ target price would indicate a potential upside of 22.06% from the stock’s previous close.

Other analysts have also issued reports about the stock. Royal Bank of Canada increased their price target on shares of Alphabet from $155.00 to $200.00 and gave the company an “outperform” rating in a research report on Friday, April 26th. Wedbush upped their price objective on shares of Alphabet from $175.00 to $205.00 and gave the company an “outperform” rating in a report on Friday, April 26th. Susquehanna upped their price objective on shares of Alphabet from $170.00 to $225.00 and gave the company a “positive” rating in a report on Monday. Truist Financial upped their price objective on shares of Alphabet from $170.00 to $190.00 and gave the company a “buy” rating in a report on Friday, April 26th. Finally, BMO Capital Markets upped their price objective on shares of Alphabet from $185.00 to $215.00 and gave the company an “outperform” rating in a report on Friday, April 26th. Five analysts have rated the stock with a hold rating, thirty have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $190.60.

Alphabet Stock Performance

GOOGL stock opened at $163.86 on Tuesday. The firm has a market cap of $2.04 trillion, a price-to-earnings ratio of 25.13, a PEG ratio of 1.29 and a beta of 1.05. The firm has a 50-day simple moving average of $149.22 and a two-hundred day simple moving average of $141.95. Alphabet has a one year low of $103.71 and a one year high of $174.71. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.10 and a current ratio of 2.15.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 EPS for the quarter, beating the consensus estimate of $1.49 by $0.40. The business had revenue of $80.54 billion during the quarter, compared to analyst estimates of $66.04 billion. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. During the same period in the prior year, the firm posted $1.17 earnings per share. On average, equities analysts forecast that Alphabet will post 7.49 EPS for the current fiscal year.

Insider Activity

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $132.70, for a total value of $2,985,750.00. Following the transaction, the chief executive officer now owns 2,332,691 shares in the company, valued at approximately $309,548,095.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $132.70, for a total value of $2,985,750.00. Following the transaction, the chief executive officer now owns 2,332,691 shares in the company, valued at approximately $309,548,095.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Ruth Porat sold 48,077 shares of the firm’s stock in a transaction on Friday, March 8th. The shares were sold at an average price of $137.22, for a total value of $6,597,125.94. Following the completion of the transaction, the chief financial officer now owns 1,777,106 shares in the company, valued at approximately $243,854,485.32. The disclosure for this sale can be found here. Insiders have sold 275,129 shares of company stock worth $40,382,765 in the last quarter. Corporate insiders own 0.88% of the company’s stock.

Institutional Trading of Alphabet

Hedge funds and other institutional investors have recently modified their holdings of the stock. Tributary Capital Management LLC acquired a new stake in shares of Alphabet in the 1st quarter worth $30,000. Vermillion & White Wealth Management Group LLC acquired a new stake in shares of Alphabet in the 4th quarter worth $30,000. DiNuzzo Private Wealth Inc. acquired a new stake in shares of Alphabet in the 4th quarter worth $38,000. Richardson Capital Management LLC increased its stake in shares of Alphabet by 87.5% in the 1st quarter. Richardson Capital Management LLC now owns 300 shares of the information services provider’s stock worth $45,000 after acquiring an additional 140 shares during the last quarter. Finally, Meritage Group LP increased its stake in shares of Alphabet by 1,061.5% in the 3rd quarter. Meritage Group LP now owns 302 shares of the information services provider’s stock worth $40,000 after acquiring an additional 276 shares during the last quarter. 40.03% of the stock is 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.