Alphabet (NASDAQ:GOOGL) PT Raised to $187.00 at Wells Fargo & Company

Alphabet (NASDAQ:GOOGL) had its price objective hoisted by research analysts at Wells Fargo & Company from $168.00 to $187.00 in a research note issued on Monday, MarketBeat Ratings reports. The firm presently has an “equal weight” rating on the information services provider’s stock. Wells Fargo & Company‘s price target would suggest a potential downside of 1.05% from the company’s current price.

Several other research analysts also recently commented on GOOGL. Stifel Nicolaus restated a “buy” rating and set a $196.00 price objective on shares of Alphabet in a research report on Wednesday, May 15th. Citigroup upped their price objective on Alphabet from $168.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, April 26th. Wedbush lifted their target price on Alphabet from $175.00 to $205.00 and gave the company an “outperform” rating in a research report on Friday, April 26th. Oppenheimer increased their target price on shares of Alphabet from $185.00 to $205.00 and gave the stock an “outperform” rating in a report on Friday, April 26th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Alphabet from $165.00 to $200.00 and gave the company an “overweight” rating in a report on Friday, April 26th. Six investment analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $194.34.

Alphabet Stock Performance

GOOGL opened at $188.98 on Monday. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.15 and a quick ratio of 2.15. The business has a fifty day simple moving average of $176.41 and a 200 day simple moving average of $156.91. Alphabet has a 1 year low of $115.35 and a 1 year high of $191.36. The company has a market capitalization of $2.34 trillion, a PE ratio of 28.98, a price-to-earnings-growth ratio of 1.43 and a beta of 1.05.

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 net margin of 25.90% and a return on equity of 29.52%. The firm had revenue of $80.54 billion during the quarter, compared to the consensus estimate of $66.04 billion. During the same quarter in the previous year, the firm posted $1.17 EPS. Research analysts expect that Alphabet will post 7.6 EPS for the current year.

Insider Buying and Selling

In other news, Director John L. Hennessy sold 800 shares of the stock in a transaction that occurred on Friday, April 12th. The shares were 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 of the company’s stock, valued at approximately $1,275,043.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Alphabet news, Director John L. Hennessy sold 800 shares of the business’s stock in a transaction on Friday, April 12th. The stock was sold at an average price of $159.56, for a total value of $127,648.00. Following the sale, the director now directly owns 7,991 shares in the company, valued at $1,275,043.96. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Sundar Pichai sold 22,500 shares of the 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 approximately $362,516,961.51. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 123,788 shares of company stock valued at $21,143,403. 11.55% of the stock is owned by insiders.

Institutional Investors Weigh In On Alphabet

Several institutional investors have recently made changes to their positions in the stock. Vermillion & White Wealth Management Group LLC purchased a new position in shares of Alphabet during the 4th quarter valued at $30,000. Tributary Capital Management LLC bought a new stake in Alphabet during the first quarter valued at $30,000. DiNuzzo Private Wealth Inc. purchased a new position in Alphabet during the fourth quarter worth about $38,000. CarsonAllaria Wealth Management Ltd. increased its stake in Alphabet by 59.2% in the 1st quarter. CarsonAllaria Wealth Management Ltd. now owns 293 shares of the information services provider’s stock worth $44,000 after acquiring an additional 109 shares during the last quarter. Finally, Richardson Capital Management LLC raised its holdings in shares of Alphabet by 87.5% in the 1st quarter. Richardson Capital Management LLC now owns 300 shares of the information services provider’s stock valued at $45,000 after acquiring an additional 140 shares in the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

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.