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

Alphabet (NASDAQ:GOOGL) had its target price increased by KeyCorp from $215.00 to $225.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has an “overweight” rating on the information services provider’s stock. KeyCorp’s target price would suggest a potential upside of 16.91% from the company’s current price.

Other equities analysts have also issued research reports about the stock. Wedbush increased their price objective on shares of Alphabet from $210.00 to $220.00 and gave the company an “outperform” rating in a research report on Monday. Seaport Res Ptn raised Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 29th. Citizens Jmp downgraded shares of Alphabet from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 2nd. Robert W. Baird restated an “outperform” rating and issued a $205.00 price target on shares of Alphabet in a report on Tuesday, December 10th. Finally, Royal Bank of Canada boosted their price objective on shares of Alphabet from $204.00 to $210.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Nine investment analysts have rated the stock with a hold rating, thirty have given a buy rating and four have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $207.08.

Alphabet Trading Down 0.8 %

Shares of Alphabet stock opened at $192.45 on Friday. Alphabet has a fifty-two week low of $130.66 and a fifty-two week high of $201.42. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95. The company has a market capitalization of $2.36 trillion, a P/E ratio of 25.52, a P/E/G ratio of 1.35 and a beta of 0.98. The company has a fifty day moving average of $182.20 and a 200 day moving average of $173.01.

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. The firm had revenue of $88.27 billion for the quarter, compared to the consensus estimate of $72.85 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. During the same quarter in the previous year, the firm earned $1.55 earnings per share. On average, sell-side analysts anticipate that Alphabet will post 8.01 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director John L. Hennessy sold 1,500 shares of the company’s stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $194.22, for a total transaction of $291,330.00. Following the transaction, the director now directly owns 23,324 shares of the company’s stock, valued at $4,529,987.28. This represents a 6.04 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Amie Thuener O’toole sold 2,834 shares of Alphabet stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $167.23, for a total transaction of $473,929.82. Following the transaction, the chief accounting officer now owns 26,349 shares of the company’s stock, valued at approximately $4,406,343.27. The trade was a 9.71 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 155,887 shares of company stock worth $27,996,356. 11.55% of the stock is owned by corporate insiders.

Institutional Trading of Alphabet

Several institutional investors and hedge funds have recently made changes to their positions in the stock. LMR Partners LLP purchased a new stake in Alphabet during the 3rd quarter worth $32,000. Denver PWM LLC acquired a new position in Alphabet during the 2nd quarter worth $41,000. Quarry LP bought a new stake in shares of Alphabet in the 2nd quarter worth about $53,000. Teachers Insurance & Annuity Association of America acquired a new stake in shares of Alphabet in the 3rd quarter valued at about $66,000. Finally, Mendota Financial Group LLC raised its stake in Alphabet by 19.0% during the third quarter. Mendota Financial Group LLC now owns 401 shares of the information services provider’s stock valued at $67,000 after buying an additional 64 shares in the last quarter. 40.03% of the stock is currently owned by hedge funds and other 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.