Alphabet (NASDAQ:GOOGL) Price Target Raised to $225.00

Alphabet (NASDAQ:GOOGL) had its target price increased by Truist Financial from $220.00 to $225.00 in a research note issued on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the information services provider’s stock. Truist Financial’s price target would suggest a potential upside of 25.80% from the company’s previous close.

A number of other analysts also recently commented on the company. TD Securities upped their target price on Alphabet from $200.00 to $220.00 in a research note on Wednesday, July 10th. DA Davidson began coverage on Alphabet in a research report on Tuesday, September 10th. They issued a “neutral” rating and a $170.00 price objective on the stock. Rosenblatt Securities reaffirmed a “neutral” rating and set a $181.00 target price on shares of Alphabet in a report on Wednesday, July 24th. Bank of America boosted their target price on shares of Alphabet from $206.00 to $210.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, JMP Securities restated a “market outperform” rating and set a $200.00 price target on shares of Alphabet in a research report on Wednesday, September 25th. Seven investment analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $202.87.

Alphabet Stock Performance

NASDAQ:GOOGL traded up $9.17 during midday trading on Wednesday, hitting $178.85. The company’s stock had a trading volume of 32,715,938 shares, compared to its average volume of 26,968,799. Alphabet has a fifty-two week low of $122.68 and a fifty-two week high of $191.75. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08 and a quick ratio of 2.08. The firm has a market cap of $2.21 trillion, a P/E ratio of 27.44, a P/E/G ratio of 1.27 and a beta of 1.04. The firm’s 50 day moving average is $162.00 and its 200-day moving average is $168.74.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, topping analysts’ consensus estimates of $1.83 by $0.29. The firm had revenue of $88.27 billion for the quarter, compared to analyst estimates 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 business earned $1.55 earnings per share. Equities analysts anticipate that Alphabet will post 7.65 earnings per share for the current fiscal year.

Insider Activity

In other news, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction that occurred on Friday, August 2nd. The shares were 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 $5,264,112. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, Director John L. Hennessy sold 700 shares of the business’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $165.00, for a total value of $115,500.00. Following the sale, the director now directly owns 29,324 shares in the company, valued at approximately $4,838,460. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $168.00, for a total transaction of $114,576.00. Following the transaction, the chief accounting officer now directly owns 31,334 shares of the company’s stock, valued at $5,264,112. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 220,426 shares of company stock valued at $35,993,340. 11.55% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Alphabet

Several institutional investors and hedge funds have recently modified their holdings of GOOGL. Christopher J. Hasenberg Inc increased its holdings in Alphabet by 75.0% during the 2nd quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock worth $26,000 after purchasing an additional 60 shares during the period. Kings Path Partners LLC acquired a new stake in Alphabet during the second quarter worth approximately $36,000. Tributary Capital Management LLC acquired a new position in shares of Alphabet in the 1st quarter valued at $30,000. Denver PWM LLC acquired a new position in shares of Alphabet in the 2nd quarter valued at $41,000. Finally, Quarry LP purchased a new position in shares of Alphabet in the 2nd quarter valued at $53,000. 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.