Susquehanna Lowers Alphabet (NASDAQ:GOOGL) Price Target to $220.00

Alphabet (NASDAQ:GOOGL - Get Free Report) had its price target dropped by stock analysts at Susquehanna from $225.00 to $220.00 in a research report issued on Friday, Marketbeat reports. The firm currently has a "positive" rating on the information services provider's stock. Susquehanna's price objective indicates a potential upside of 35.84% from the stock's previous close.

A number of other equities analysts have also issued reports on the company. UBS Group set a $190.00 price target on Alphabet in a research note on Thursday, March 27th. Morgan Stanley lowered their target price on Alphabet from $210.00 to $185.00 and set an "overweight" rating on the stock in a report on Thursday, April 17th. Needham & Company LLC reissued a "buy" rating and issued a $178.00 price target on shares of Alphabet in a report on Wednesday, April 16th. Bank of America lifted their price objective on shares of Alphabet from $185.00 to $200.00 and gave the stock a "buy" rating in a research note on Friday. Finally, Roth Mkm reissued a "buy" rating and set a $220.00 target price on shares of Alphabet in a research note on Wednesday, March 19th. Ten equities research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and five have given a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $199.03.

Alphabet Stock Performance

GOOGL stock traded up $2.68 during trading on Friday, reaching $161.96. 55,957,898 shares of the company's stock were exchanged, compared to its average volume of 28,290,487. Alphabet has a 1-year low of $140.53 and a 1-year high of $207.05. The firm has a market cap of $1.97 trillion, a PE ratio of 20.12, a P/E/G ratio of 1.34 and a beta of 1.03. The company's fifty day moving average price is $162.18 and its 200-day moving average price is $175.52. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03.

Alphabet (NASDAQ:GOOGL - Get Free Report) last released its earnings results on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, beating the consensus estimate of $2.02 by $0.79. The firm had revenue of $76.49 billion for the quarter, compared to analysts' expectations of $89.30 billion. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. During the same quarter last year, the company earned $1.89 EPS. On average, research analysts expect that Alphabet will post 8.9 EPS for the current fiscal year.

Insider Buying and Selling at Alphabet

In related news, CEO Sundar Pichai sold 32,500 shares of the business's stock in a transaction on Wednesday, April 16th. The shares were sold at an average price of $156.16, for a total transaction of $5,075,200.00. Following the transaction, the chief executive officer now owns 2,685,196 shares of the company's stock, valued at approximately $419,320,207.36. The trade was a 1.20 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Amie Thuener O'toole sold 1,340 shares of the stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $202.08, for a total transaction of $270,787.20. Following the completion of the sale, the chief accounting officer now directly owns 17,848 shares of the company's stock, valued at approximately $3,606,723.84. This trade represents a 6.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 148,163 shares of company stock worth $25,361,647 over the last 90 days. Insiders own 11.55% of the company's stock.

Hedge Funds Weigh In On Alphabet

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. FMR LLC raised its stake in shares of Alphabet by 9.8% in the fourth quarter. FMR LLC now owns 248,416,916 shares of the information services provider's stock valued at $47,025,322,000 after purchasing an additional 22,100,902 shares in the last quarter. Norges Bank bought a new position in shares of Alphabet during the 4th quarter worth about $24,383,677,000. Price T Rowe Associates Inc. MD boosted its position in shares of Alphabet by 8.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 98,638,127 shares of the information services provider's stock valued at $18,672,198,000 after acquiring an additional 7,574,417 shares in the last quarter. Capital Research Global Investors increased its stake 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 acquiring an additional 10,037,685 shares during the period. Finally, Northern Trust Corp raised its position in Alphabet by 17.0% in the fourth quarter. Northern Trust Corp now owns 69,616,854 shares of the information services provider's stock worth $13,178,470,000 after purchasing an additional 10,135,430 shares in the last quarter. 40.03% of the stock is currently owned by institutional investors.

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.