Westpark Capital Initiates Coverage on Alphabet (NASDAQ:GOOG)

Equities research analysts at Westpark Capital assumed coverage on shares of Alphabet (NASDAQ:GOOG - Get Free Report) in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm set a "buy" rating and a $210.00 price target on the information services provider's stock. Westpark Capital's price target would indicate a potential upside of 32.18% from the company's current price.

Several other equities analysts have also weighed in on GOOG. Morgan Stanley reiterated an "overweight" rating on shares of Alphabet in a report on Wednesday, February 5th. Needham & Company LLC reaffirmed a "buy" rating on shares of Alphabet in a research note on Wednesday, February 5th. Wedbush reiterated an "outperform" rating and issued a $220.00 price target on shares of Alphabet in a report on Thursday, January 30th. Rosenblatt Securities restated a "neutral" rating on shares of Alphabet in a report on Wednesday, March 19th. Finally, The Goldman Sachs Group reiterated a "buy" rating on shares of Alphabet in a report on Wednesday, February 5th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, fifteen have assigned a buy rating and three have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $208.65.

Alphabet Trading Up 1.7 %

NASDAQ GOOG traded up $2.65 during trading hours on Tuesday, hitting $158.88. 20,087,662 shares of the company's stock were exchanged, compared to its average volume of 18,912,940. The firm has a market cap of $1.94 trillion, a price-to-earnings ratio of 19.74, a PEG ratio of 1.34 and a beta of 1.03. Alphabet has a 1-year low of $148.20 and a 1-year high of $208.70. The stock has a 50-day simple moving average of $179.89 and a 200 day simple moving average of $178.70. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03.

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Alphabet (NASDAQ:GOOG - Get Free Report) last announced its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, topping 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%. On average, equities analysts forecast that Alphabet will post 8.89 EPS for the current fiscal year.

Insider Activity

In other news, CAO Amie Thuener O'toole sold 1,368 shares of the stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $191.55, for a total transaction of $262,040.40. Following the completion of the transaction, the chief accounting officer now directly owns 20,681 shares of the company's stock, valued at $3,961,445.55. This represents a 6.20 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John Kent Walker sold 17,690 shares of Alphabet stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $185.51, for a total transaction of $3,281,671.90. Following the completion of the sale, the insider now directly owns 43,111 shares in the company, valued at $7,997,521.61. This trade represents a 29.09 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 88,665 shares of company stock valued at $16,198,310 in the last ninety days. 12.99% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Alphabet

Several large investors have recently added to or reduced their stakes in the company. Sterling Financial Planning Inc. increased its stake in shares of Alphabet by 2.6% in the fourth quarter. Sterling Financial Planning Inc. now owns 1,941 shares of the information services provider's stock worth $370,000 after purchasing an additional 50 shares in the last quarter. Arlington Trust Co LLC grew its stake in Alphabet by 0.4% in the 4th quarter. Arlington Trust Co LLC now owns 14,423 shares of the information services provider's stock valued at $2,747,000 after buying an additional 52 shares in the last quarter. Harrell Investment Partners LLC grew its stake in Alphabet by 0.9% in the 4th quarter. Harrell Investment Partners LLC now owns 5,659 shares of the information services provider's stock valued at $1,078,000 after buying an additional 53 shares in the last quarter. Ethos Financial Group LLC raised its holdings in Alphabet by 0.7% during the 4th quarter. Ethos Financial Group LLC now owns 7,300 shares of the information services provider's stock valued at $1,395,000 after acquiring an additional 53 shares during the period. Finally, Redhawk Wealth Advisors Inc. lifted its position in shares of Alphabet by 1.1% during the fourth quarter. Redhawk Wealth Advisors Inc. now owns 5,073 shares of the information services provider's stock worth $966,000 after acquiring an additional 54 shares in the last quarter. Hedge funds and other institutional investors own 27.26% 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.