Alphabet (NASDAQ:GOOGL) Given New $202.00 Price Target at KeyCorp

Alphabet (NASDAQ:GOOGL) had its price objective cut by investment analysts at KeyCorp from $220.00 to $202.00 in a research note issued on Tuesday,Benzinga reports. The brokerage presently has an “overweight” rating on the information services provider’s stock. KeyCorp’s price objective indicates a potential upside of 22.95% from the stock’s previous close.

Other research analysts have also recently issued reports about the stock. JMP Securities reaffirmed a “market perform” rating on shares of Alphabet in a research report on Wednesday, February 5th. The Goldman Sachs Group reissued a “buy” rating and set a $210.00 target price on shares of Alphabet in a research report on Thursday, December 12th. Bank of America reissued a “buy” rating and set a $210.00 target price on shares of Alphabet in a research report on Monday, December 23rd. Citigroup dropped their price target on shares of Alphabet from $232.00 to $229.00 and set a “buy” rating for the company in a research note on Wednesday, February 5th. Finally, Piper Sandler lowered their target price on shares of Alphabet from $210.00 to $208.00 and set an “overweight” rating for the company in a research note on Wednesday, February 5th. Ten investment 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. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $210.03.

Alphabet Trading Down 0.7 %

Shares of GOOGL stock opened at $164.29 on Tuesday. The stock has a market cap of $2.00 trillion, a price-to-earnings ratio of 20.41, a price-to-earnings-growth ratio of 1.34 and a beta of 1.02. 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 has a fifty-two week low of $146.08 and a fifty-two week high of $207.05. The firm’s 50 day moving average price is $185.05 and its two-hundred day moving average price is $176.58.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share for the quarter, beating analysts’ consensus estimates of $2.12 by $0.03. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. On average, analysts anticipate that Alphabet will post 8.9 EPS for the current year.

Insider Activity at Alphabet

In other news, Director John L. Hennessy sold 200 shares of Alphabet stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $165.53, for a total transaction of $33,106.00. Following the completion of the sale, the director now owns 7,813 shares of the company’s stock, valued at approximately $1,293,285.89. This trade represents a 2.50 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Amie Thuener O’toole sold 1,340 shares of Alphabet stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $202.08, for a total value of $270,787.20. Following the sale, the chief accounting officer now directly owns 17,848 shares of the company’s stock, valued at $3,606,723.84. This represents a 6.98 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 93,048 shares of company stock valued at $17,374,274. 11.55% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Alphabet

Hedge funds and other institutional investors have recently modified their holdings of the company. FMR LLC lifted its stake in 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 buying an additional 22,100,902 shares during the period. State Street Corp raised its position in shares of Alphabet by 0.3% during the third quarter. State Street Corp now owns 222,555,548 shares of the information services provider’s stock worth $36,910,838,000 after purchasing an additional 743,369 shares during the period. Geode Capital Management LLC raised its position in shares of Alphabet by 2.0% during the third quarter. Geode Capital Management LLC now owns 134,030,679 shares of the information services provider’s stock worth $22,154,651,000 after purchasing an additional 2,626,431 shares during the period. Norges Bank acquired a new position in shares of Alphabet during the fourth quarter worth approximately $24,383,677,000. Finally, Price T Rowe Associates Inc. MD raised its position in shares of Alphabet by 8.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 98,638,127 shares of the information services provider’s stock worth $18,672,198,000 after purchasing an additional 7,574,417 shares during the period. Institutional investors and hedge funds own 40.03% of the company’s stock.

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.