Alphabet (NASDAQ:GOOGL) Price Target Raised to $205.00

Alphabet (NASDAQ:GOOGL) had its price target lifted by equities researchers at Evercore ISI from $200.00 to $205.00 in a report released on Wednesday, Benzinga reports. The firm currently has an “outperform” rating on the information services provider’s stock. Evercore ISI’s price target would suggest a potential upside of 14.23% from the stock’s current price.

Other equities research analysts also recently issued reports about the company. TD Securities lifted their target price on Alphabet from $200.00 to $220.00 in a report on Wednesday, July 10th. Wedbush reiterated an “outperform” rating and issued a $205.00 price objective on shares of Alphabet in a research note on Thursday, October 24th. JPMorgan Chase & Co. increased their target price 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. JMP Securities reaffirmed a “market outperform” rating and issued a $200.00 price target on shares of Alphabet in a research note on Wednesday, September 25th. Finally, Argus increased their price objective on shares of Alphabet from $200.00 to $215.00 and gave the stock a “buy” rating in a research report on Tuesday, July 16th. Seven equities research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have assigned a strong buy rating to the company. According to data from MarketBeat, Alphabet presently has a consensus rating of “Moderate Buy” and an average price target of $202.87.

Alphabet Trading Up 5.8 %

Shares of GOOGL stock traded up $9.79 on Wednesday, hitting $179.47. The company had a trading volume of 36,291,391 shares, compared to its average volume of 26,978,537. Alphabet has a twelve month low of $122.68 and a twelve month high of $191.75. 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 firm has a market cap of $2.22 trillion, a P/E ratio of 27.44, a P/E/G ratio of 1.27 and a beta of 1.04. The stock’s 50-day moving average is $162.00 and its two-hundred day moving average is $168.74.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. The business had revenue of $88.27 billion during the quarter, compared to the consensus estimate of $72.85 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. During the same quarter in the prior year, the firm posted $1.55 EPS. On average, equities research analysts anticipate that Alphabet will post 7.65 earnings per share for the current fiscal year.

Insider Buying and Selling at Alphabet

In related news, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $168.00, for a total value of $114,576.00. Following the completion of the sale, the chief accounting officer now owns 31,334 shares of the company’s stock, valued at approximately $5,264,112. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, insider John Kent Walker sold 21,467 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $160.35, for a total transaction of $3,442,233.45. Following the sale, the insider now owns 39,334 shares of the company’s stock, valued at approximately $6,307,206.90. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $168.00, for a total transaction of $114,576.00. Following the completion of the transaction, the chief accounting officer now owns 31,334 shares of the company’s stock, valued at $5,264,112. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have 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 currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. FSM Wealth Advisors LLC increased its stake in Alphabet by 1.5% in the 3rd quarter. FSM Wealth Advisors LLC now owns 14,954 shares of the information services provider’s stock worth $2,480,000 after acquiring an additional 223 shares during the last quarter. Catalyst Capital Advisors LLC raised its stake in Alphabet by 62.4% in the third quarter. Catalyst Capital Advisors LLC now owns 3,480 shares of the information services provider’s stock valued at $577,000 after purchasing an additional 1,337 shares in the last quarter. Impax Asset Management Group plc lifted its position in Alphabet by 6.8% during the third quarter. Impax Asset Management Group plc now owns 728,575 shares of the information services provider’s stock valued at $120,834,000 after purchasing an additional 46,677 shares during the last quarter. Hazlett Burt & Watson Inc. grew its stake in Alphabet by 2.5% in the 3rd quarter. Hazlett Burt & Watson Inc. now owns 9,217 shares of the information services provider’s stock worth $1,528,000 after buying an additional 224 shares in the last quarter. Finally, Quintet Private Bank Europe S.A. increased its holdings in shares of Alphabet by 13.9% in the 3rd quarter. Quintet Private Bank Europe S.A. now owns 587,363 shares of the information services provider’s stock worth $97,414,000 after buying an additional 71,651 shares during 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.