Shares of Alphabet Inc. (NASDAQ:GOOGL - Get Free Report) traded up 1.7% on Tuesday after Needham & Company LLC raised their price target on the stock from $210.00 to $225.00. Needham & Company LLC currently has a buy rating on the stock. Alphabet traded as high as $195.40 and last traded at $195.15. 7,573,527 shares changed hands during trading, a decline of 68% from the average session volume of 24,000,145 shares. The stock had previously closed at $191.81.
GOOGL has been the topic of a number of other reports. Evercore ISI increased their price target on shares of Alphabet from $200.00 to $205.00 and gave the company an "outperform" rating in a research report on Wednesday, October 30th. The Goldman Sachs Group reaffirmed a "buy" rating and set a $210.00 target price on shares of Alphabet in a report on Thursday, December 12th. Citizens Jmp cut Alphabet from a "strong-buy" rating to a "hold" rating in a research note on Thursday, January 2nd. Phillip Securities upgraded Alphabet to a "strong-buy" rating in a research report on Friday, November 1st. Finally, DA Davidson raised their target price on shares of Alphabet from $190.00 to $200.00 and gave the stock a "neutral" rating in a report on Friday. Nine equities research analysts have rated the stock with a hold rating, thirty have assigned a buy rating and four have given a strong buy rating to the company. According to data from MarketBeat.com, Alphabet currently has a consensus rating of "Moderate Buy" and a consensus price target of $209.82.
Check Out Our Latest Report on Alphabet
Insider Buying and Selling at Alphabet
In related news, CEO Sundar Pichai sold 22,500 shares of the company's stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $177.36, for a total transaction of $3,990,600.00. Following the completion of the transaction, the chief executive officer now directly owns 2,084,306 shares in the company, valued at $369,672,512.16. This represents a 1.07 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Amie Thuener O'toole sold 2,834 shares of the stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $197.55, for a total transaction of $559,856.70. Following the completion of the sale, the chief accounting officer now owns 20,681 shares of the company's stock, valued at approximately $4,085,531.55. The trade was a 12.05 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 133,387 shares of company stock valued at $24,368,654 in the last 90 days. 11.55% of the stock is currently owned by corporate insiders.
Hedge Funds Weigh In On Alphabet
Several institutional investors have recently added to or reduced their stakes in the company. LMR Partners LLP acquired a new position in shares of Alphabet in the 3rd quarter valued at $32,000. E Fund Management Hong Kong Co. Ltd. grew its stake in shares of Alphabet by 518.8% during the 4th quarter. E Fund Management Hong Kong Co. Ltd. now owns 198 shares of the information services provider's stock worth $37,000 after acquiring an additional 166 shares in the last quarter. Fiduciary Advisors Inc. acquired a new stake in shares of Alphabet in the fourth quarter valued at about $39,000. Denver PWM LLC boosted its holdings in shares of Alphabet by 25.4% in the 3rd quarter. Denver PWM LLC now owns 281 shares of the information services provider's stock valued at $47,000 after buying an additional 57 shares during the last quarter. Finally, Quarry LP bought a new position in shares of Alphabet in the 2nd quarter valued at about $53,000. 40.03% of the stock is owned by institutional investors.
Alphabet Price Performance
The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. The firm has a market cap of $2.39 trillion, a P/E ratio of 25.90, a PEG ratio of 1.27 and a beta of 0.98. The business has a fifty day moving average of $186.79 and a 200 day moving average of $173.61.
Alphabet (NASDAQ:GOOGL - Get Free Report) last released its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.83 by $0.29. The firm had revenue of $88.27 billion for the quarter, compared to analysts' expectations of $72.85 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. During the same quarter in the previous year, the business posted $1.55 earnings per share. On average, sell-side analysts anticipate that Alphabet Inc. will post 8.02 earnings per share for the current year.
Alphabet Company Profile
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Get Free Report)
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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