Alphabet (NASDAQ:GOOGL) Price Target Raised to $200.00 at Oppenheimer

Alphabet (NASDAQ:GOOGL - Get Free Report) had its price target hoisted by Oppenheimer from $185.00 to $200.00 in a research report issued on Friday, MarketBeat Ratings reports. The firm currently has an "outperform" rating on the information services provider's stock. Oppenheimer's price target would suggest a potential upside of 23.49% from the company's current price.

GOOGL has been the subject of a number of other reports. Piper Sandler dropped their price objective on Alphabet from $208.00 to $185.00 and set an "overweight" rating for the company in a research note on Thursday, April 10th. UBS Group set a $190.00 price target on shares of Alphabet in a research note on Thursday, March 27th. Morgan Stanley reduced their price target on shares of Alphabet from $210.00 to $185.00 and set an "overweight" rating on the stock in a research report on Thursday, April 17th. Westpark Capital upgraded shares of Alphabet to a "strong-buy" rating in a report on Tuesday, April 1st. Finally, Jefferies Financial Group decreased their price target on shares of Alphabet from $235.00 to $200.00 and set a "buy" rating for the company in a research report on Monday, March 31st. Ten equities research 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 stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $199.03.

Alphabet Trading Up 1.7 %

GOOGL traded up $2.68 on Friday, hitting $161.96. The company had a trading volume of 55,957,898 shares, compared to its average volume of 28,290,487. The company's fifty day moving average price is $162.18 and its 200 day moving average price is $175.52. 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. The firm has a market cap of $1.97 trillion, a P/E ratio of 20.12, a PEG ratio of 1.34 and a beta of 1.03.

Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 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 firm had revenue of $76.49 billion for the quarter, compared to analyst estimates of $89.30 billion. During the same period in the prior year, the business posted $1.89 EPS. As a group, equities analysts expect that Alphabet will post 8.9 earnings per share for the current year.

Insiders Place Their Bets

In other Alphabet news, insider John Kent Walker sold 17,690 shares of the company's 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 of the company's stock, valued at $7,997,521.61. This represents a 29.09 % 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, CAO Amie Thuener O'toole sold 1,340 shares of the stock in a transaction that occurred on Monday, February 3rd. The stock was 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 of the company's stock, valued at $3,606,723.84. The trade was a 6.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 148,163 shares of company stock valued at $25,361,647. Insiders own 11.55% of the company's stock.

Institutional Investors Weigh In On Alphabet

Large investors have recently modified their holdings of the stock. FMR LLC raised its position in Alphabet by 9.8% during the 4th quarter. FMR LLC now owns 248,416,916 shares of the information services provider's stock worth $47,025,322,000 after buying an additional 22,100,902 shares during the last quarter. Norges Bank acquired a new position in shares of Alphabet during the fourth quarter worth about $24,383,677,000. Price T Rowe Associates Inc. MD raised its holdings in Alphabet by 8.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 98,638,127 shares of the information services provider's stock worth $18,672,198,000 after purchasing an additional 7,574,417 shares in the last quarter. Capital Research Global Investors lifted its position in Alphabet by 16.2% in the fourth quarter. Capital Research Global Investors now owns 72,033,086 shares of the information services provider's stock valued at $13,635,878,000 after purchasing an additional 10,037,685 shares during the period. Finally, Northern Trust Corp boosted its holdings in Alphabet by 17.0% in the 4th quarter. Northern Trust Corp now owns 69,616,854 shares of the information services provider's stock valued at $13,178,470,000 after purchasing an additional 10,135,430 shares in the last quarter. 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.