Alphabet's (GOOGL) Buy Rating Reaffirmed at Needham & Company LLC

Alphabet (NASDAQ:GOOGL - Get Free Report)'s stock had its "buy" rating restated by investment analysts at Needham & Company LLC in a research report issued on Tuesday, Benzinga reports. They presently have a $210.00 price objective on the information services provider's stock. Needham & Company LLC's price objective would indicate a potential upside of 26.92% from the company's current price.

Other equities research analysts also recently issued reports about the stock. Tigress Financial increased their price objective on shares of Alphabet from $210.00 to $220.00 and gave the stock a "strong-buy" rating in a research note on Thursday, September 26th. Mizuho raised their price target on shares of Alphabet from $205.00 to $210.00 and gave the company an "outperform" rating in a research note on Wednesday, July 24th. Morgan Stanley reduced their price target on shares of Alphabet from $205.00 to $190.00 and set an "overweight" rating on the stock in a research note on Tuesday, September 3rd. Jefferies Financial Group raised their price target on shares of Alphabet from $215.00 to $220.00 in a research note on Tuesday, July 9th. Finally, Roth Mkm restated a "buy" rating and issued a $206.00 price target on shares of Alphabet in a research note on Thursday, August 29th. Eight equities research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have assigned a strong buy rating to the company's stock. According to MarketBeat.com, Alphabet currently has an average rating of "Moderate Buy" and an average target price of $201.13.

Alphabet Stock Performance

Shares of GOOGL stock traded up $0.50 on Tuesday, hitting $165.46. The company's stock had a trading volume of 20,176,803 shares, compared to its average volume of 27,139,379. 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 stock's 50 day moving average is $161.49 and its 200-day moving average is $167.96. Alphabet has a fifty-two week low of $120.21 and a fifty-two week high of $191.75. The company has a market capitalization of $2.04 trillion, a PE ratio of 25.46, a PEG ratio of 1.21 and a beta of 1.04.

Alphabet (NASDAQ:GOOGL - Get Free Report) last released its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, beating the consensus estimate of $1.85 by $0.04. The business had revenue of $84.74 billion for the quarter, compared to the consensus estimate of $70.60 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. During the same period in the prior year, the company posted $1.44 earnings per share. Equities research analysts expect that Alphabet will post 7.64 earnings per share for the current fiscal year.

Insider Activity at Alphabet

In related news, CEO Sundar Pichai sold 22,500 shares of the business's stock in a transaction on Wednesday, July 17th. The shares were sold at an average price of $182.84, for a total transaction of $4,113,900.00. Following the transaction, the chief executive officer now owns 2,204,885 shares in the company, valued at $403,141,173.40. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Sundar Pichai sold 22,500 shares of the business's stock in a transaction on Wednesday, July 17th. The shares were sold at an average price of $182.84, for a total transaction of $4,113,900.00. Following the transaction, the chief executive officer now owns 2,204,885 shares in the company, valued at $403,141,173.40. The trade was a 0.00 % 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, SVP Prabhakar Raghavan sold 34,257 shares of the business's stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $162.60, for a total transaction of $5,570,188.20. Following the transaction, the senior vice president now owns 312,210 shares in the company, valued at $50,765,346. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 216,092 shares of company stock worth $35,644,136 in the last quarter. Company insiders own 11.55% of the company's stock.

Institutional Trading of Alphabet

Hedge funds and other institutional investors have recently bought and sold shares of the business. New Hampshire Trust increased its stake in Alphabet by 2.7% during the 2nd quarter. New Hampshire Trust now owns 43,714 shares of the information services provider's stock valued at $7,963,000 after purchasing an additional 1,132 shares in the last quarter. Berkshire Money Management Inc. bought a new stake in shares of Alphabet in the 1st quarter worth $359,000. Schneider Downs Wealth Management Advisors LP grew its stake in shares of Alphabet by 58.4% in the 1st quarter. Schneider Downs Wealth Management Advisors LP now owns 6,374 shares of the information services provider's stock worth $962,000 after acquiring an additional 2,351 shares in the last quarter. Sanders Morris Harris LLC bought a new stake in shares of Alphabet in the 1st quarter worth $842,000. Finally, Trinity Financial Advisors LLC grew its stake in shares of Alphabet by 4.5% in the 3rd quarter. Trinity Financial Advisors LLC now owns 4,423 shares of the information services provider's stock worth $771,000 after acquiring an additional 190 shares in the last quarter. Institutional investors 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.