Alphabet (NASDAQ:GOOGL) Earns Buy Rating from Roth Mkm

Alphabet (NASDAQ:GOOGL - Get Free Report)'s stock had its "buy" rating reaffirmed by analysts at Roth Mkm in a research report issued to clients and investors on Thursday, Benzinga reports. They currently have a $206.00 price target on the information services provider's stock. Roth Mkm's target price points to a potential upside of 27.33% from the company's current price.

GOOGL has been the topic of several other research reports. JPMorgan Chase & Co. lifted their price target on shares of Alphabet from $200.00 to $208.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 24th. Argus lifted their target price on shares of Alphabet from $200.00 to $215.00 and gave the company a "buy" rating in a research note on Tuesday, July 16th. BMO Capital Markets restated an "outperform" rating and set a $222.00 target price on shares of Alphabet in a research note on Tuesday, August 6th. Royal Bank of Canada lifted their price target on shares of Alphabet from $200.00 to $204.00 and gave the company an "outperform" rating in a report on Wednesday, July 24th. Finally, Truist Financial lifted their price target on shares of Alphabet from $190.00 to $196.00 and gave the company a "buy" rating in a report on Wednesday, July 24th. Six equities research analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $203.74.

Alphabet Stock Down 0.7 %

Shares of GOOGL traded down $1.07 on Thursday, hitting $161.78. 19,681,230 shares of the stock traded hands, compared to its average volume of 27,665,316. The company has a market capitalization of $2.00 trillion, a PE ratio of 24.81, a P/E/G ratio of 1.28 and a beta of 1.05. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 2.08. The business has a 50 day simple moving average of $174.06 and a 200 day simple moving average of $163.55. Alphabet has a one year low of $120.21 and a one year high of $191.75.

Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.85 by $0.04. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The company had revenue of $84.74 billion for the quarter, compared to analysts' expectations of $70.60 billion. During the same quarter last year, the company posted $1.44 earnings per share. As a group, equities analysts forecast that Alphabet will post 7.62 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, SVP Prabhakar Raghavan sold 3,262 shares of the business's stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $183.99, for a total transaction of $600,175.38. Following the completion of the transaction, the senior vice president now owns 9 shares in the company, valued at approximately $1,655.91. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Alphabet news, SVP Prabhakar Raghavan sold 3,262 shares of the company's stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $183.99, for a total transaction of $600,175.38. Following the transaction, the senior vice president now owns 9 shares in the company, valued at approximately $1,655.91. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Amie Thuener O'toole sold 682 shares of the company's stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $173.86, for a total transaction of $118,572.52. Following the transaction, the chief accounting officer now owns 29,966 shares in the company, valued at approximately $5,209,888.76. The disclosure for this sale can be found here. Insiders sold a total of 156,565 shares of company stock worth $26,823,893 in the last 90 days. 11.55% of the stock is owned by corporate insiders.

Institutional Trading of Alphabet

A number of hedge funds and other institutional investors have recently made changes to their positions in GOOGL. Picton Mahoney Asset Management boosted its holdings in Alphabet by 55.4% during the fourth quarter. Picton Mahoney Asset Management now owns 214,443 shares of the information services provider's stock worth $29,956,000 after buying an additional 76,410 shares in the last quarter. Nebula Research & Development LLC purchased a new stake in Alphabet during the fourth quarter worth $787,000. New Hampshire Trust boosted its holdings in Alphabet by 2.7% during the second quarter. New Hampshire Trust now owns 43,714 shares of the information services provider's stock worth $7,963,000 after buying an additional 1,132 shares in the last quarter. Matisse Capital boosted its holdings in Alphabet by 13.7% during the fourth quarter. Matisse Capital now owns 16,781 shares of the information services provider's stock worth $2,344,000 after buying an additional 2,026 shares in the last quarter. Finally, Berkshire Money Management Inc. purchased a new stake in Alphabet during the first quarter worth $359,000. 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.