Alphabet (NASDAQ:GOOGL) Given New $210.00 Price Target at Bank of America

Alphabet (NASDAQ:GOOGL) had its target price upped by investment analysts at Bank of America from $206.00 to $210.00 in a report issued on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the information services provider’s stock. Bank of America‘s price target would indicate a potential upside of 16.41% from the company’s current price.

A number of other research firms have also commented on GOOGL. Roth Mkm reissued a “buy” rating and issued a $206.00 price target on shares of Alphabet in a research report on Thursday, August 29th. Mizuho increased their target price on shares of Alphabet from $205.00 to $210.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. Loop Capital restated a “hold” rating and set a $170.00 price target on shares of Alphabet in a report on Wednesday, July 3rd. JPMorgan Chase & Co. increased their price objective on shares of Alphabet from $200.00 to $208.00 and gave the company an “overweight” rating in a research note on Wednesday, July 24th. Finally, Scotiabank raised Alphabet to a “strong-buy” rating in a report on Friday, October 11th. Seven 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. According to MarketBeat.com, Alphabet presently has a consensus rating of “Moderate Buy” and a consensus price target of $202.26.

Alphabet Stock Up 6.3 %

Shares of NASDAQ GOOGL opened at $180.40 on Wednesday. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08 and a quick ratio of 2.08. Alphabet has a 1 year low of $122.68 and a 1 year high of $191.75. The stock has a market capitalization of $2.23 trillion, a P/E ratio of 26.02, a P/E/G ratio of 1.27 and a beta of 1.04. The company has a 50-day moving average price of $162.00 and a 200-day moving average price of $168.74.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, topping analysts’ consensus estimates of $1.83 by $0.29. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. During the same quarter last year, the company posted $1.55 earnings per share. On average, equities research analysts forecast that Alphabet will post 7.65 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CAO Amie Thuener O’toole sold 1,367 shares of the company’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $168.84, for a total value of $230,804.28. Following the completion of the transaction, the chief accounting officer now directly owns 29,183 shares in the company, valued at approximately $4,927,257.72. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Alphabet news, CAO Amie Thuener O’toole sold 1,367 shares of the company’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $168.84, for a total value of $230,804.28. Following the completion of the sale, the chief accounting officer now owns 29,183 shares of the company’s stock, valued at $4,927,257.72. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John L. Hennessy sold 800 shares of Alphabet stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $153.75, for a total transaction of $123,000.00. Following the transaction, the director now directly owns 28,524 shares in the company, valued at $4,385,565. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 220,426 shares of company stock worth $35,993,340 over the last ninety days. 11.55% of the stock is owned by corporate insiders.

Institutional Trading of Alphabet

Hedge funds have recently added to or reduced their stakes in the business. Burns J W & Co. Inc. NY raised its stake in shares of Alphabet by 7.4% during the first quarter. Burns J W & Co. Inc. NY now owns 24,861 shares of the information services provider’s stock valued at $3,752,000 after acquiring an additional 1,720 shares during the last quarter. Grimes & Company Inc. grew its position in shares of Alphabet by 1.6% in the 1st quarter. Grimes & Company Inc. now owns 176,121 shares of the information services provider’s stock worth $26,582,000 after buying an additional 2,727 shares during the last quarter. Saratoga Research & Investment Management grew its position in shares of Alphabet by 19.1% in the 1st quarter. Saratoga Research & Investment Management now owns 1,001,128 shares of the information services provider’s stock worth $151,100,000 after buying an additional 160,884 shares during the last quarter. First Bank & Trust increased its stake in shares of Alphabet by 2.5% during the first quarter. First Bank & Trust now owns 9,694 shares of the information services provider’s stock valued at $1,463,000 after buying an additional 239 shares during the period. Finally, Baker Ellis Asset Management LLC raised its holdings in shares of Alphabet by 5.7% during the first quarter. Baker Ellis Asset Management LLC now owns 21,355 shares of the information services provider’s stock valued at $3,223,000 after acquiring an additional 1,150 shares in the last quarter. 40.03% of the stock is owned by institutional investors.

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.