Alphabet (NASDAQ:GOOGL) Price Target Cut to $202.00 by Analysts at KeyCorp

Alphabet (NASDAQ:GOOGL) had its price objective lowered by analysts at KeyCorp from $220.00 to $202.00 in a research report issued on Tuesday, MarketBeat.com reports. The firm presently has an “overweight” rating on the information services provider’s stock. KeyCorp’s target price would indicate a potential upside of 23.25% from the company’s current price.

A number of other analysts have also weighed in on GOOGL. JMP Securities reaffirmed a “market perform” rating on shares of Alphabet in a research note on Wednesday, February 5th. Wedbush increased their price target on shares of Alphabet from $210.00 to $220.00 and gave the company an “outperform” rating in a research report on Monday, January 6th. DA Davidson increased their price target on shares of Alphabet from $190.00 to $200.00 and gave the company a “neutral” rating in a research report on Friday, January 24th. Morgan Stanley decreased their price target on shares of Alphabet from $215.00 to $210.00 and set an “overweight” rating for the company in a research report on Wednesday, February 5th. Finally, Needham & Company LLC reissued a “buy” rating and set a $225.00 price target on shares of Alphabet in a research report on Wednesday, February 5th. Ten investment analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $210.59.

Alphabet Trading Up 2.0 %

GOOGL stock opened at $163.89 on Tuesday. The firm’s fifty day simple moving average is $183.75 and its two-hundred day simple moving average is $176.47. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03. The stock has a market capitalization of $2.00 trillion, a price-to-earnings ratio of 20.36, a price-to-earnings-growth ratio of 1.34 and a beta of 1.02. Alphabet has a twelve month low of $146.74 and a twelve month high of $207.05.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, topping analysts’ consensus estimates of $2.12 by $0.03. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. As a group, analysts anticipate that Alphabet will post 8.9 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider John Kent Walker sold 16,820 shares of the company’s stock in a transaction on Monday, December 30th. The stock was sold at an average price of $192.62, for a total value of $3,239,868.40. Following the completion of the sale, the insider now owns 43,981 shares in the company, valued at $8,471,620.22. This represents a 27.66 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director John L. Hennessy sold 200 shares of the company’s stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $165.53, for a total value of $33,106.00. Following the completion of the sale, the director now owns 7,813 shares of the company’s stock, valued at approximately $1,293,285.89. This trade represents a 2.50 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 93,048 shares of company stock worth $17,374,274. 11.55% of the stock is owned by company insiders.

Institutional Investors Weigh In On Alphabet

Institutional investors and hedge funds have recently modified their holdings of the stock. Pettinga Financial Advisors LLC raised its position in Alphabet by 10.1% during the third quarter. Pettinga Financial Advisors LLC now owns 2,186 shares of the information services provider’s stock valued at $363,000 after buying an additional 201 shares during the period. Impax Asset Management Group plc raised its position in Alphabet by 6.8% during the third quarter. Impax Asset Management Group plc now owns 728,575 shares of the information services provider’s stock valued at $120,834,000 after buying an additional 46,677 shares during the period. Heritage Investors Management Corp raised its position in Alphabet by 0.5% during the third quarter. Heritage Investors Management Corp now owns 420,235 shares of the information services provider’s stock valued at $69,695,000 after buying an additional 2,101 shares during the period. Global Wealth Management Investment Advisory Inc. raised its position in Alphabet by 13.2% during the third quarter. Global Wealth Management Investment Advisory Inc. now owns 28,263 shares of the information services provider’s stock valued at $4,687,000 after buying an additional 3,300 shares during the period. Finally, Crestwood Advisors Group LLC raised its position in Alphabet by 3.3% during the third quarter. Crestwood Advisors Group LLC now owns 760,173 shares of the information services provider’s stock valued at $126,073,000 after buying an additional 24,147 shares during the period. 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.