Alphabet (NASDAQ:GOOG) Price Target Raised to $195.00

Alphabet (NASDAQ:GOOG - Get Free Report) had its price objective upped by stock analysts at JPMorgan Chase & Co. from $180.00 to $195.00 in a report issued on Friday,Benzinga reports. The brokerage currently has an "overweight" rating on the information services provider's stock. JPMorgan Chase & Co.'s target price would indicate a potential upside of 19.01% from the company's current price.

Several other analysts also recently issued reports on GOOG. Scotiabank reduced their price target on Alphabet from $232.00 to $200.00 and set a "sector outperform" rating for the company in a research note on Monday. Citizens Jmp cut Alphabet from a "strong-buy" rating to a "hold" rating in a research note on Thursday, January 2nd. Citigroup restated a "sell" rating on shares of Alphabet in a research note on Wednesday. Wedbush reiterated an "outperform" rating and set a $220.00 price objective on shares of Alphabet in a research report on Thursday, January 30th. Finally, The Goldman Sachs Group reissued a "buy" rating on shares of Alphabet in a research note on Wednesday, February 5th. Two research analysts have rated the stock with a sell rating, six have given a hold rating, fourteen have given a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat, Alphabet presently has a consensus rating of "Moderate Buy" and an average price target of $203.94.

Alphabet Stock Performance

Alphabet stock traded up $2.38 during midday trading on Friday, reaching $163.85. 35,083,440 shares of the company's stock were exchanged, compared to its average volume of 21,509,902. Alphabet has a 52 week low of $142.66 and a 52 week high of $208.70. The firm has a market cap of $2.00 trillion, a price-to-earnings ratio of 20.35, a P/E/G ratio of 1.34 and a beta of 1.04. The stock's 50-day simple moving average is $164.69 and its 200 day simple moving average is $177.17. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.84 and a current ratio of 1.84.

Alphabet (NASDAQ:GOOG - Get Free Report) last announced its earnings results on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, topping the consensus estimate of $2.04 by $0.77. The business had revenue of $90.23 billion during the quarter, compared to the consensus estimate of $89.30 billion. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. On average, analysts expect that Alphabet will post 8.89 earnings per share for the current fiscal year.

Insider Activity at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the business's stock in a transaction dated Wednesday, April 16th. The shares were sold at an average price of $156.16, for a total value of $5,075,200.00. Following the transaction, the chief executive officer now directly owns 2,685,196 shares in the company, valued at $419,320,207.36. The trade was a 1.20 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kavitark Ram Shriram sold 29,066 shares of the company's stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $184.89, for a total value of $5,374,012.74. Following the completion of the transaction, the director now owns 272,466 shares in the company, valued at approximately $50,376,238.74. The trade was a 9.64 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 148,163 shares of company stock valued at $25,361,647 over the last ninety days. Corporate insiders own 12.99% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Norges Bank purchased a new position in Alphabet during the 4th quarter valued at about $5,166,070,000. GAMMA Investing LLC boosted its holdings in Alphabet by 18,562.3% in the 1st quarter. GAMMA Investing LLC now owns 14,323,323 shares of the information services provider's stock valued at $2,237,733,000 after purchasing an additional 14,246,573 shares during the period. Raymond James Financial Inc. purchased a new position in shares of Alphabet during the 4th quarter valued at $1,551,533,000. Northern Trust Corp increased its holdings in shares of Alphabet by 16.1% in the fourth quarter. Northern Trust Corp now owns 57,098,042 shares of the information services provider's stock worth $10,873,751,000 after purchasing an additional 7,917,625 shares during the period. Finally, GQG Partners LLC raised its position in shares of Alphabet by 181,679.1% in the fourth quarter. GQG Partners LLC now owns 7,225,721 shares of the information services provider's stock worth $1,376,066,000 after buying an additional 7,221,746 shares in the last quarter. 27.26% of the stock is owned by institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.