Alphabet (NASDAQ:GOOGL) Stock Rating Reaffirmed by Loop Capital

Alphabet (NASDAQ:GOOGL)‘s stock had its “hold” rating reiterated by research analysts at Loop Capital in a note issued to investors on Wednesday, Benzinga reports. They currently have a $170.00 price target on the information services provider’s stock. Loop Capital’s price target would indicate a potential downside of 8.51% from the stock’s previous close.

Other equities analysts have also recently issued research reports about the company. Raymond James boosted their price objective on Alphabet from $160.00 to $200.00 and gave the company an “outperform” rating in a report on Friday, April 26th. Sanford C. Bernstein boosted their price objective on Alphabet from $165.00 to $180.00 and gave the company a “market perform” rating in a report on Friday, April 26th. Barclays boosted their price objective on Alphabet from $173.00 to $200.00 and gave the company an “overweight” rating in a report on Friday, April 26th. Bank of America reiterated a “buy” rating and issued a $200.00 target price on shares of Alphabet in a report on Tuesday, June 11th. Finally, Wolfe Research upped their target price on Alphabet from $180.00 to $200.00 and gave the stock an “outperform” rating in a report on Friday, April 26th. Six analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $193.66.

Alphabet Stock Performance

NASDAQ GOOGL opened at $185.82 on Wednesday. The company has a market cap of $2.30 trillion, a P/E ratio of 28.50, a P/E/G ratio of 1.39 and a beta of 1.05. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.15 and a current ratio of 2.15. The business’s 50 day moving average price is $174.46 and its 200-day moving average price is $155.39. Alphabet has a fifty-two week low of $115.35 and a fifty-two week high of $186.09.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data on Thursday, April 25th. The information services provider reported $1.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.49 by $0.40. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. The company had revenue of $80.54 billion during the quarter, compared to analysts’ expectations of $66.04 billion. During the same quarter in the previous year, the business earned $1.17 EPS. Sell-side analysts predict that Alphabet will post 7.6 earnings per share for the current year.

Insider Activity at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction on Wednesday, April 17th. The stock was sold at an average price of $157.41, for a total transaction of $3,541,725.00. Following the completion of the sale, the chief executive officer now owns 2,303,011 shares of the company’s stock, valued at $362,516,961.51. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, Director John L. Hennessy sold 800 shares of the firm’s stock in a transaction on Friday, April 12th. The stock was sold at an average price of $159.56, for a total transaction of $127,648.00. Following the completion of the transaction, the director now directly owns 7,991 shares in the company, valued at $1,275,043.96. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction on Wednesday, April 17th. The stock was sold at an average price of $157.41, for a total value of $3,541,725.00. Following the transaction, the chief executive officer now owns 2,303,011 shares of the company’s stock, valued at $362,516,961.51. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 123,788 shares of company stock valued at $21,143,403. 11.55% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. RWQ Financial Management Services Inc. boosted its position in shares of Alphabet by 8.2% during the 4th quarter. RWQ Financial Management Services Inc. now owns 61,499 shares of the information services provider’s stock worth $8,591,000 after acquiring an additional 4,664 shares in the last quarter. Picton Mahoney Asset Management boosted its position in shares of Alphabet by 55.4% in the 4th quarter. Picton Mahoney Asset Management now owns 214,443 shares of the information services provider’s stock valued at $29,956,000 after purchasing an additional 76,410 shares during the period. Robbins Farley boosted its position in shares of Alphabet by 0.8% in the 4th quarter. Robbins Farley now owns 15,006 shares of the information services provider’s stock valued at $2,096,000 after purchasing an additional 118 shares during the period. Nebula Research & Development LLC acquired a new stake in shares of Alphabet in the 4th quarter valued at about $787,000. Finally, CKW Financial Group boosted its position in shares of Alphabet by 5.8% in the 1st quarter. CKW Financial Group now owns 13,830 shares of the information services provider’s stock valued at $2,150,000 after purchasing an additional 760 shares during the period. 40.03% of the stock is owned by institutional investors and hedge funds.

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.