Alphabet (NASDAQ:GOOGL) Price Target Lowered to $159.00 at Cantor Fitzgerald

Alphabet (NASDAQ:GOOGL - Get Free Report) had its price objective dropped by investment analysts at Cantor Fitzgerald from $200.00 to $159.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has a "neutral" rating on the information services provider's stock. Cantor Fitzgerald's target price would indicate a potential upside of 5.24% from the company's current price. Cantor Fitzgerald also issued estimates for Alphabet's FY2025 earnings at $8.33 EPS.

A number of other equities analysts have also commented on GOOGL. UBS Group set a $190.00 price objective on shares of Alphabet in a report on Thursday, March 27th. Citizens Jmp downgraded Alphabet from a "strong-buy" rating to a "hold" rating in a report on Thursday, January 2nd. Westpark Capital upgraded Alphabet to a "strong-buy" rating in a report on Tuesday, April 1st. Piper Sandler reduced their target price on Alphabet from $208.00 to $185.00 and set an "overweight" rating for the company in a research note on Thursday, April 10th. Finally, Citigroup dropped their price target on shares of Alphabet from $229.00 to $195.00 and set a "buy" rating for the company in a research note on Thursday, April 10th. Ten analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and five have assigned a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $200.74.

Alphabet Stock Down 1.5 %

NASDAQ:GOOGL traded down $2.25 during mid-day trading on Wednesday, hitting $151.08. The company had a trading volume of 32,930,996 shares, compared to its average volume of 28,313,562. The business has a fifty day simple moving average of $165.14 and a 200-day simple moving average of $175.84. The firm has a market capitalization of $1.84 trillion, a price-to-earnings ratio of 18.77, a PEG ratio of 1.34 and a beta of 1.03. Alphabet has a 1 year low of $140.53 and a 1 year high of $207.05. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03.

Alphabet (NASDAQ:GOOGL - Get Free Report) last released its quarterly earnings results 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%. Equities analysts forecast that Alphabet will post 8.9 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO Sundar Pichai sold 32,500 shares of the company's stock in a transaction on Wednesday, April 16th. The stock was sold at an average price of $156.16, for a total transaction of $5,075,200.00. Following the completion of the sale, the chief executive officer now directly owns 2,685,196 shares of the company's stock, valued at $419,320,207.36. This represents a 1.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Amie Thuener O'toole sold 1,340 shares of Alphabet stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $202.08, for a total value of $270,787.20. Following the completion of the transaction, the chief accounting officer now directly owns 17,848 shares in the company, valued at $3,606,723.84. This represents a 6.98 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 148,163 shares of company stock valued at $25,361,647 over the last three months. Company insiders own 11.55% of the company's stock.

Hedge Funds Weigh In On Alphabet

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Principal Financial Group Inc. grew its holdings in shares of Alphabet by 3.1% during the 3rd quarter. Principal Financial Group Inc. now owns 11,283,594 shares of the information services provider's stock valued at $1,871,384,000 after acquiring an additional 337,031 shares in the last quarter. Legacy Investment Solutions LLC purchased a new position in Alphabet in the third quarter valued at about $154,000. Executive Wealth Management LLC increased its position in Alphabet by 13.8% in the 3rd quarter. Executive Wealth Management LLC now owns 48,734 shares of the information services provider's stock worth $8,083,000 after purchasing an additional 5,926 shares during the last quarter. Resources Management Corp CT ADV lifted its holdings in shares of Alphabet by 1.7% during the 3rd quarter. Resources Management Corp CT ADV now owns 77,319 shares of the information services provider's stock valued at $12,823,000 after buying an additional 1,290 shares during the last quarter. Finally, Conway Capital Management Inc. acquired a new stake in shares of Alphabet during the 3rd quarter valued at about $4,346,000. Institutional investors and hedge funds 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.