Roth Mkm Reiterates Buy Rating for Alphabet (NASDAQ:GOOGL)

Alphabet (NASDAQ:GOOGL)‘s stock had its “buy” rating reissued by equities research analysts at Roth Mkm in a report issued on Wednesday,Benzinga reports. They currently have a $220.00 price objective on the information services provider’s stock. Roth Mkm’s target price points to a potential upside of 35.14% from the stock’s previous close.

Several other brokerages have also recently commented on GOOGL. Needham & Company LLC reiterated a “buy” rating and issued a $225.00 price objective on shares of Alphabet in a research note on Wednesday, February 5th. DZ Bank cut shares of Alphabet from a “buy” rating to a “hold” rating and set a $198.00 target price for the company. in a research report on Thursday, February 6th. Wolfe Research lifted their target price on shares of Alphabet from $220.00 to $230.00 and gave the stock an “outperform” rating in a research report on Friday, January 3rd. Bank of America restated a “buy” rating and set a $210.00 target price on shares of Alphabet in a research report on Monday, December 23rd. Finally, DA Davidson lifted their target price on shares of Alphabet from $190.00 to $200.00 and gave the stock a “neutral” rating in a research report on Friday, January 24th. Ten analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $210.59.

Alphabet Stock Down 0.7 %

Shares of NASDAQ GOOGL opened at $162.80 on Wednesday. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03. Alphabet has a 52 week low of $146.90 and a 52 week high of $207.05. The firm has a 50-day moving average price of $183.13 and a 200 day moving average price of $176.37. The stock has a market capitalization of $1.98 trillion, a price-to-earnings ratio of 20.22, a price-to-earnings-growth ratio of 1.34 and a beta of 1.02.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, beating the consensus estimate of $2.12 by $0.03. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. Equities research analysts anticipate that Alphabet will post 8.9 EPS for the current fiscal year.

Insider Transactions at Alphabet

In other news, Director John L. Hennessy sold 200 shares of the business’s stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $165.53, for a total transaction of $33,106.00. Following the transaction, the director now directly owns 7,813 shares of the company’s stock, valued at approximately $1,293,285.89. The trade was a 2.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Amie Thuener O’toole sold 1,340 shares of the business’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $202.08, for a total transaction of $270,787.20. Following the transaction, the chief accounting officer now directly owns 17,848 shares in the company, valued at approximately $3,606,723.84. The trade was a 6.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 93,048 shares of company stock valued at $17,374,274. Corporate insiders own 11.55% of the company’s stock.

Institutional Trading of Alphabet

Several institutional investors have recently added to or reduced their stakes in GOOGL. Pettinga Financial Advisors LLC raised its holdings in shares of Alphabet by 10.1% during the third quarter. Pettinga Financial Advisors LLC now owns 2,186 shares of the information services provider’s stock worth $363,000 after purchasing an additional 201 shares during the period. Impax Asset Management Group plc raised its holdings in shares of 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 worth $120,834,000 after purchasing an additional 46,677 shares during the period. Foster & Motley Inc. raised its holdings in shares of Alphabet by 11.3% during the third quarter. Foster & Motley Inc. now owns 10,227 shares of the information services provider’s stock worth $1,696,000 after purchasing an additional 1,040 shares during the period. Armor Investment Advisors LLC grew its position in shares of Alphabet by 2.5% during the third quarter. Armor Investment Advisors LLC now owns 9,739 shares of the information services provider’s stock worth $1,615,000 after acquiring an additional 233 shares during the last quarter. Finally, White Lighthouse Investment Management Inc. grew its position in shares of Alphabet by 0.8% during the third quarter. White Lighthouse Investment Management Inc. now owns 9,480 shares of the information services provider’s stock worth $1,572,000 after acquiring an additional 74 shares during the last quarter. 40.03% of the stock is owned by institutional investors and hedge funds.

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.