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

Alphabet (NASDAQ:GOOGL) had its price target raised by Royal Bank of Canada from $204.00 to $210.00 in a research note issued on Wednesday, Benzinga reports. The brokerage currently has an “outperform” rating on the information services provider’s stock. Royal Bank of Canada’s price objective suggests a potential upside of 17.42% from the stock’s previous close.

A number of other research analysts also recently issued reports on GOOGL. TD Securities boosted their target price on shares of Alphabet from $200.00 to $220.00 in a research report on Wednesday, July 10th. Rosenblatt Securities reissued a “neutral” rating and set a $181.00 price objective on shares of Alphabet in a research report on Wednesday, July 24th. Jefferies Financial Group boosted their target price on Alphabet from $215.00 to $220.00 in a research report on Tuesday, July 9th. JMP Securities reaffirmed a “market outperform” rating and set a $200.00 price target on shares of Alphabet in a research note on Wednesday, September 25th. Finally, Wolfe Research began coverage on Alphabet in a research note on Tuesday, July 16th. They issued an “outperform” rating and a $240.00 price objective for the company. Seven equities research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have issued 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 $202.87.

Alphabet Trading Up 5.4 %

GOOGL traded up $9.17 during trading on Wednesday, reaching $178.85. 32,715,938 shares of the stock traded hands, compared to its average volume of 26,968,799. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04. The stock’s 50-day moving average is $162.00 and its 200 day moving average is $168.74. Alphabet has a 12 month low of $122.68 and a 12 month high of $191.75. The stock has a market capitalization of $2.21 trillion, a PE ratio of 27.44, a P/E/G ratio of 1.27 and a beta of 1.04.

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

Insider Transactions at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $168.00, for a total value of $114,576.00. Following the sale, the chief accounting officer now directly owns 31,334 shares in the company, valued at $5,264,112. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction dated 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 in the company, valued at $5,264,112. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider John Kent Walker sold 21,467 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $160.35, for a total transaction of $3,442,233.45. Following the completion of the sale, the insider now directly owns 39,334 shares in the company, valued at approximately $6,307,206.90. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 220,426 shares of company stock worth $35,993,340 in the last quarter. Insiders own 11.55% of the company’s stock.

Institutional Trading of Alphabet

A number of hedge funds and other institutional investors have recently made changes to their positions in GOOGL. New Hampshire Trust grew its position in shares of Alphabet by 2.7% during the 2nd quarter. New Hampshire Trust now owns 43,714 shares of the information services provider’s stock valued at $7,963,000 after purchasing an additional 1,132 shares in the last quarter. Berkshire Money Management Inc. purchased a new position in Alphabet during the first quarter worth about $359,000. Schneider Downs Wealth Management Advisors LP increased its stake in Alphabet by 58.4% in the 1st quarter. Schneider Downs Wealth Management Advisors LP now owns 6,374 shares of the information services provider’s stock worth $962,000 after acquiring an additional 2,351 shares during the last quarter. Trinity Financial Advisors LLC raised its holdings in shares of Alphabet by 4.5% in the 3rd quarter. Trinity Financial Advisors LLC now owns 4,423 shares of the information services provider’s stock valued at $771,000 after acquiring an additional 190 shares in the last quarter. Finally, StoneCrest Wealth Management Inc. boosted its position in shares of Alphabet by 0.7% during the 3rd quarter. StoneCrest Wealth Management Inc. now owns 21,509 shares of the information services provider’s stock valued at $3,567,000 after acquiring an additional 140 shares during 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.