Alphabet (NASDAQ:GOOGL - Get Free Report) had its target price dropped by analysts at KeyCorp from $220.00 to $202.00 in a report issued on Tuesday, MarketBeat reports. The firm presently has an "overweight" rating on the information services provider's stock. KeyCorp's target price points to a potential upside of 23.18% from the stock's previous close.
Several other research firms have also commented on GOOGL. Wedbush boosted their price objective on shares of Alphabet from $210.00 to $220.00 and gave the stock an "outperform" rating in a research note on Monday, January 6th. Piper Sandler cut their price target on shares of Alphabet from $210.00 to $208.00 and set an "overweight" rating on the stock in a report on Wednesday, February 5th. Cantor Fitzgerald decreased their price objective on Alphabet from $215.00 to $210.00 and set a "neutral" rating for the company in a report on Wednesday, January 22nd. Bank of America reissued a "buy" rating and issued a $210.00 price objective on shares of Alphabet in a research report on Monday, December 23rd. Finally, Robert W. Baird reaffirmed an "outperform" rating and set a $205.00 target price on shares of Alphabet in a research report on Tuesday, December 10th. Ten research 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. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $210.59.
View Our Latest Report on Alphabet
Alphabet Stock Up 0.7 %
NASDAQ GOOGL traded up $1.19 during trading on Tuesday, reaching $163.99. 36,577,258 shares of the company's stock traded hands, compared to its average volume of 25,886,969. The firm has a market cap of $2.00 trillion, a price-to-earnings ratio of 20.37, a price-to-earnings-growth ratio of 1.34 and a beta of 1.02. Alphabet has a 12-month low of $146.90 and a 12-month high of $207.05. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84. The company's 50 day simple moving average is $183.13 and its two-hundred day simple moving average is $176.37.
Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 earnings per share for the quarter, topping analysts' consensus estimates of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. As a group, sell-side analysts forecast that Alphabet will post 8.9 EPS for the current fiscal year.
Insiders Place Their Bets
In other Alphabet news, CAO Amie Thuener O'toole sold 1,368 shares of the business's stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $191.55, for a total transaction of $262,040.40. Following the sale, the chief accounting officer now directly owns 20,681 shares in the company, valued at $3,961,445.55. This represents a 6.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John L. Hennessy sold 200 shares of the stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $165.53, for a total transaction of $33,106.00. Following the sale, the director now directly owns 7,813 shares in the company, valued at $1,293,285.89. This represents a 2.50 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 93,048 shares of company stock valued at $17,374,274 over the last 90 days. 11.55% of the stock is owned by company insiders.
Institutional Investors Weigh In On Alphabet
Large investors have recently added to or reduced their stakes in the business. Prostatis Group LLC grew its stake in shares of Alphabet by 21.5% in the fourth quarter. Prostatis Group LLC now owns 9,361 shares of the information services provider's stock worth $1,772,000 after acquiring an additional 1,654 shares in the last quarter. M1 Capital Management LLC acquired a new stake in shares of Alphabet in the fourth quarter valued at $838,000. DSG Capital Advisors LLC purchased a new position in Alphabet in the fourth quarter valued at $18,398,000. Chancellor Financial Group WB LP acquired a new position in Alphabet during the 4th quarter worth $2,961,000. Finally, 111 Capital purchased a new stake in Alphabet during the 4th quarter worth about $3,599,000. 40.03% of the stock is owned by hedge funds and other institutional investors.
Alphabet Company Profile
(
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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.
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