Alphabet (NASDAQ:GOOGL) Stock Price Expected to Rise, KeyCorp Analyst Says

Alphabet (NASDAQ:GOOGL - Get Free Report) had its price objective upped by investment analysts at KeyCorp from $185.00 to $195.00 in a report released on Friday, Marketbeat Ratings reports. The firm presently has an "overweight" rating on the information services provider's stock. KeyCorp's target price would suggest a potential upside of 20.40% from the stock's current price.

A number of other brokerages have also recently commented on GOOGL. Rosenblatt Securities dropped their price target on Alphabet from $205.00 to $189.00 and set a "neutral" rating on the stock in a research report on Friday. Bank of America lifted their price objective on Alphabet from $185.00 to $200.00 and gave the company a "buy" rating in a research note on Friday. Royal Bank of Canada reissued an "outperform" rating and issued a $200.00 target price on shares of Alphabet in a research note on Wednesday. UBS Group lifted their price target on Alphabet from $173.00 to $186.00 and gave the stock a "neutral" rating in a research report on Friday. Finally, Piper Sandler increased their price objective on shares of Alphabet from $185.00 to $195.00 and gave the company an "overweight" rating in a research report on Friday. Ten analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and five have issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $199.03.

Alphabet Stock Up 1.7 %

GOOGL stock traded up $2.68 during midday trading on Friday, hitting $161.96. The stock had a trading volume of 55,957,898 shares, compared to its average volume of 28,290,487. 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 firm has a market cap of $1.97 trillion, a price-to-earnings ratio of 20.12, a price-to-earnings-growth ratio of 1.34 and a beta of 1.03. The business has a 50-day moving average of $162.18 and a two-hundred day moving average of $175.52. Alphabet has a 52-week low of $140.53 and a 52-week high of $207.05.

Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.02 by $0.79. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. The company had revenue of $76.49 billion during the quarter, compared to analyst estimates of $89.30 billion. During the same period last year, the business earned $1.89 EPS. As a group, equities research analysts forecast that Alphabet will post 8.9 earnings per share for the current fiscal year.

Insider Buying and Selling at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $158.56, for a total value of $5,153,200.00. Following the completion of the sale, the chief executive officer now owns 2,717,696 shares in the company, valued at approximately $430,917,877.76. This represents a 1.18 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Amie Thuener O'toole sold 1,340 shares of the firm's stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $202.08, for a total value of $270,787.20. Following the sale, the chief accounting officer now directly owns 17,848 shares in the company, valued at approximately $3,606,723.84. This represents a 6.98 % decrease in their ownership of the stock. 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 90 days. 11.55% of the stock is currently owned by corporate insiders.

Institutional Trading of Alphabet

Institutional investors have recently made changes to their positions in the business. Optivise Advisory Services LLC raised its position in shares of Alphabet by 8.0% during the fourth quarter. Optivise Advisory Services LLC now owns 5,464 shares of the information services provider's stock valued at $1,035,000 after buying an additional 403 shares during the last quarter. Community Bank N.A. grew its stake in Alphabet by 6.4% during the fourth quarter. Community Bank N.A. now owns 46,173 shares of the information services provider's stock valued at $8,741,000 after acquiring an additional 2,790 shares in the last quarter. Premier Fund Managers Ltd increased its holdings in Alphabet by 30.0% in the 4th quarter. Premier Fund Managers Ltd now owns 61,792 shares of the information services provider's stock valued at $11,816,000 after acquiring an additional 14,262 shares during the last quarter. Absolute Capital Management LLC lifted its stake in Alphabet by 14.0% in the 4th quarter. Absolute Capital Management LLC now owns 2,096 shares of the information services provider's stock worth $401,000 after purchasing an additional 258 shares in the last quarter. Finally, Permanent Capital Management LP bought a new position in shares of Alphabet during the 4th quarter valued at about $273,000. Hedge funds and other institutional investors own 40.03% of the company's stock.

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.