Alphabet (NASDAQ:GOOGL) Price Target Raised to $215.00 at KeyCorp

Alphabet (NASDAQ:GOOGL) had its target price raised by investment analysts at KeyCorp from $195.00 to $215.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the information services provider’s stock. KeyCorp’s price objective would suggest a potential upside of 16.18% from the stock’s previous close.

A number of other analysts have also recently issued reports on the company. Wells Fargo & Company increased their target price on Alphabet from $175.00 to $177.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 8th. Wedbush set a $190.00 price objective on shares of Alphabet and gave the stock an “outperform” rating in a research report on Tuesday, April 15th. Jefferies Financial Group cut their price objective on shares of Alphabet from $235.00 to $200.00 and set a “buy” rating on the stock in a research report on Monday, March 31st. Susquehanna reduced their target price on shares of Alphabet from $225.00 to $220.00 and set a “positive” rating for the company in a research note on Friday, April 25th. Finally, BNP Paribas Exane restated a “neutral” rating and issued a $172.00 price target on shares of Alphabet in a report on Friday, June 27th. Ten equities research analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and four have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $201.68.

Alphabet Stock Performance

GOOGL stock opened at $185.06 on Thursday. Alphabet has a twelve month low of $140.53 and a twelve month high of $207.05. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 0.03. The company has a market cap of $2.25 trillion, a P/E ratio of 20.63, a price-to-earnings-growth ratio of 1.29 and a beta of 1.00. The business’s fifty day moving average is $172.90 and its 200-day moving average is $173.12.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.02 by $0.79. Alphabet had a net margin of 30.86% and a return on equity of 34.54%. The firm had revenue of $76.49 billion during the quarter, compared to analysts’ expectations of $89.30 billion. During the same quarter in the previous year, the company earned $1.89 earnings per share. Equities research analysts forecast that Alphabet will post 8.9 EPS for the current year.

Insider Activity at Alphabet

In related news, Director Kavitark Ram Shriram sold 10,500 shares of the firm’s stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total value of $1,837,500.00. Following the completion of the transaction, the director owned 261,966 shares in the company, valued at $45,844,050. This trade represents a 3.85% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John L. Hennessy sold 600 shares of the business’s stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total transaction of $105,000.00. Following the sale, the director directly owned 6,813 shares in the company, valued at $1,192,275. The trade was a 8.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 215,843 shares of company stock valued at $37,288,490 in the last quarter. Insiders own 11.64% of the company’s stock.

Institutional Investors Weigh In On Alphabet

Institutional investors have recently made changes to their positions in the stock. Guardian Wealth Management Inc. increased its holdings in Alphabet by 242.9% in the first quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider’s stock worth $26,000 after purchasing an additional 119 shares in the last quarter. IMA Advisory Services Inc. acquired a new stake in shares of Alphabet during the 1st quarter worth approximately $28,000. von Borstel & Associates Inc. bought a new stake in shares of Alphabet in the 1st quarter valued at $28,000. NBZ Investment Advisors LLC increased its stake in shares of Alphabet by 85.7% in the 1st quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider’s stock valued at $30,000 after acquiring an additional 90 shares in the last quarter. Finally, Financial Gravity Asset Management Inc. bought a new position in Alphabet during the first quarter worth $39,000. Institutional investors own 40.03% of the company’s stock.

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.