Alphabet (NASDAQ:GOOGL) Given New $210.00 Price Target at Morgan Stanley

Alphabet (NASDAQ:GOOGL) had its price objective decreased by Morgan Stanley from $215.00 to $210.00 in a research note released on Wednesday,Benzinga reports. Morgan Stanley currently has an overweight rating on the information services provider’s stock.

Several other analysts have also recently issued reports on GOOGL. Cantor Fitzgerald cut their target price on Alphabet from $215.00 to $210.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 22nd. Evercore ISI lifted their price objective on Alphabet from $200.00 to $205.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. JMP Securities restated a “market perform” rating on shares of Alphabet in a report on Monday, January 27th. Truist Financial lifted their price target on shares of Alphabet from $220.00 to $225.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Finally, BMO Capital Markets reissued an “outperform” rating and set a $217.00 price objective (up from $215.00) on shares of Alphabet in a research report on Wednesday, October 30th. Nine 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 stock. According to MarketBeat, Alphabet has a consensus rating of “Moderate Buy” and a consensus target price of $210.95.

Alphabet Stock Performance

NASDAQ:GOOGL opened at $191.33 on Wednesday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95. Alphabet has a fifty-two week low of $130.66 and a fifty-two week high of $207.05. The firm has a market cap of $2.34 trillion, a PE ratio of 25.38, a price-to-earnings-growth ratio of 1.31 and a beta of 0.99. The business has a 50 day moving average price of $190.39 and a 200-day moving average price of $174.40.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, beating analysts’ consensus estimates of $2.12 by $0.03. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. Equities research analysts predict that Alphabet will post 8.02 earnings per share for the current year.

Insider Activity at Alphabet

In other Alphabet news, Director Kavitark Ram Shriram sold 37,134 shares of the company’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $185.02, for a total transaction of $6,870,532.68. Following the transaction, the director now owns 282,832 shares in the company, valued at approximately $52,329,576.64. This represents a 11.61 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $176.67, for a total transaction of $3,975,075.00. Following the completion of the sale, the chief executive officer now owns 2,061,806 shares of the company’s stock, valued at $364,259,266.02. This represents a 1.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 89,529 shares of company stock valued at $16,600,078 over the last ninety days. Insiders own 11.55% of the company’s stock.

Hedge Funds Weigh In On Alphabet

Several hedge funds and other institutional investors have recently modified their holdings of the company. Schear Investment Advisers LLC boosted its stake in shares of Alphabet by 17.0% during the 3rd quarter. Schear Investment Advisers LLC now owns 33,751 shares of the information services provider’s stock worth $5,598,000 after acquiring an additional 4,905 shares during the last quarter. Trinity Financial Advisors LLC raised its holdings in Alphabet by 4.5% in the 3rd quarter. Trinity Financial Advisors LLC now owns 4,423 shares of the information services provider’s stock worth $771,000 after purchasing an additional 190 shares during the period. Landscape Capital Management L.L.C. lifted its position in Alphabet by 27.9% during the third quarter. Landscape Capital Management L.L.C. now owns 25,275 shares of the information services provider’s stock valued at $4,192,000 after purchasing an additional 5,516 shares in the last quarter. abrdn plc grew its holdings in Alphabet by 10.7% during the third quarter. abrdn plc now owns 6,305,717 shares of the information services provider’s stock valued at $1,037,196,000 after purchasing an additional 611,233 shares during the period. Finally, StoneCrest Wealth Management Inc. increased its position in Alphabet by 0.7% in the third quarter. StoneCrest Wealth Management Inc. now owns 21,509 shares of the information services provider’s stock worth $3,567,000 after buying an additional 140 shares in the last quarter. 40.03% of the stock is 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.