Alphabet (NASDAQ:GOOGL) Upgraded by Westpark Capital to "Strong-Buy" Rating

Alphabet (NASDAQ:GOOGL - Get Free Report) was upgraded by analysts at Westpark Capital to a "strong-buy" rating in a research note issued to investors on Tuesday,Zacks.com reports.

Other equities analysts have also issued reports about the stock. Morgan Stanley decreased their price target on shares of Alphabet from $215.00 to $210.00 and set an "overweight" rating for the company in a research note on Wednesday, February 5th. Piper Sandler decreased their target price on Alphabet from $210.00 to $208.00 and set an "overweight" rating for the company in a research report on Wednesday, February 5th. Citigroup dropped their price target on Alphabet from $232.00 to $229.00 and set a "buy" rating on the stock in a research report on Wednesday, February 5th. Wells Fargo & Company decreased their price objective on Alphabet from $184.00 to $167.00 and set an "equal weight" rating for the company in a report on Monday, March 31st. Finally, Cantor Fitzgerald reaffirmed a "neutral" rating and issued a $200.00 price objective on shares of Alphabet in a research note on Wednesday, March 19th. Ten analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and five have assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $209.13.

Alphabet Trading Down 3.4 %

GOOGL traded down $5.12 during trading on Tuesday, reaching $145.60. The company had a trading volume of 62,123,086 shares, compared to its average volume of 27,597,046. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03. The business has a 50 day simple moving average of $175.15 and a 200-day simple moving average of $176.81. The stock has a market cap of $1.77 trillion, a P/E ratio of 18.09, a PEG ratio of 1.34 and a beta of 1.03. Alphabet has a 52 week low of $145.38 and a 52 week high of $207.05.

Remove Ads

Alphabet (NASDAQ:GOOGL - Get Free Report) last posted 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 net margin of 28.60% and a return on equity of 32.49%. On average, equities analysts anticipate that Alphabet will post 8.9 EPS for the current fiscal year.

Insider Buying and Selling at Alphabet

In related news, insider John Kent Walker sold 17,690 shares of the business'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 in the company, valued at approximately $7,997,521.61. The trade was a 29.09 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John L. Hennessy sold 1,500 shares of the firm's stock in a transaction on Monday, January 13th. The shares were sold at an average price of $189.80, for a total value of $284,700.00. Following the completion of the transaction, the director now owns 21,824 shares in the company, valued at $4,142,195.20. The trade was a 6.43 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 119,797 shares of company stock valued at $21,089,470 over the last ninety days. Corporate insiders own 11.55% of the company's stock.

Hedge Funds Weigh In On Alphabet

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Principal Financial Group Inc. increased its stake in Alphabet by 3.1% during the third quarter. Principal Financial Group Inc. now owns 11,283,594 shares of the information services provider's stock worth $1,871,384,000 after acquiring an additional 337,031 shares during the last quarter. BIP Wealth LLC increased its position in shares of Alphabet by 5.1% during the 3rd quarter. BIP Wealth LLC now owns 7,302 shares of the information services provider's stock worth $1,211,000 after purchasing an additional 354 shares during the last quarter. Wrapmanager Inc. raised its holdings in Alphabet by 17.1% in the 3rd quarter. Wrapmanager Inc. now owns 18,261 shares of the information services provider's stock valued at $3,029,000 after buying an additional 2,670 shares during the period. Fifth Third Wealth Advisors LLC raised its holdings in Alphabet by 23.8% in the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 163,970 shares of the information services provider's stock valued at $27,194,000 after buying an additional 31,482 shares during the period. Finally, Princeton Capital Management LLC lifted its position in Alphabet by 2.5% in the third quarter. Princeton Capital Management LLC now owns 96,294 shares of the information services provider's stock valued at $15,970,000 after buying an additional 2,358 shares during the last quarter. Institutional investors and hedge funds 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.