Cantor Fitzgerald Reiterates “Neutral” Rating for Alphabet (NASDAQ:GOOGL)

Alphabet (NASDAQ:GOOGL)‘s stock had its “neutral” rating restated by research analysts at Cantor Fitzgerald in a report released on Monday, Benzinga reports. They currently have a $190.00 price target on the information services provider’s stock. Cantor Fitzgerald’s price objective suggests a potential upside of 13.78% from the stock’s current price.

A number of other research analysts have also recently weighed in on GOOGL. Roth Mkm restated a “buy” rating and set a $206.00 target price on shares of Alphabet in a research note on Thursday, August 29th. Wells Fargo & Company upped their price target on shares of Alphabet from $187.00 to $190.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 24th. Citigroup lifted their price objective on shares of Alphabet from $190.00 to $212.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Piper Sandler reduced their target price on shares of Alphabet from $206.00 to $200.00 and set an “overweight” rating on the stock in a report on Tuesday, September 10th. Finally, DA Davidson assumed coverage on shares of Alphabet in a report on Tuesday, September 10th. They issued a “neutral” rating and a $170.00 price target for the company. Eight investment analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $201.35.

Alphabet Trading Up 0.7 %

GOOGL stock opened at $166.99 on Monday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 2.08. The company has a market capitalization of $2.06 trillion, a PE ratio of 25.61, a price-to-earnings-growth ratio of 1.21 and a beta of 1.04. The company’s 50 day moving average price is $162.22 and its two-hundred day moving average price is $167.02. Alphabet has a one year low of $120.21 and a one year high of $191.75.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, beating analysts’ consensus estimates of $1.85 by $0.04. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The firm had revenue of $84.74 billion for the quarter, compared to analyst estimates of $70.60 billion. During the same quarter in the previous year, the firm posted $1.44 EPS. As a group, analysts predict that Alphabet will post 7.63 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction that occurred 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 owns 31,334 shares of the company’s stock, valued at approximately $5,264,112. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director John L. Hennessy sold 700 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $165.00, for a total transaction of $115,500.00. Following the completion of the transaction, the director now directly owns 29,324 shares of the company’s stock, valued at approximately $4,838,460. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $168.00, for a total transaction 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 disclosure for this sale can be found here. Insiders sold a total of 193,725 shares of company stock valued at $31,933,031 over the last three months. 11.55% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of GOOGL. Capital Research Global Investors boosted its position in Alphabet by 14.4% in the 1st quarter. Capital Research Global Investors now owns 57,803,291 shares of the information services provider’s stock valued at $8,724,251,000 after buying an additional 7,275,757 shares during the last quarter. Vanguard Group Inc. increased its stake in Alphabet by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 493,810,251 shares of the information services provider’s stock valued at $68,980,354,000 after buying an additional 6,374,756 shares during the period. Public Employees Retirement Association of Colorado increased its stake in shares of Alphabet by 39,754.9% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 6,025,667 shares of the information services provider’s stock valued at $841,725,000 after acquiring an additional 6,010,548 shares during the period. Wulff Hansen & CO. raised its stake in shares of Alphabet by 18,810.2% in the 2nd quarter. Wulff Hansen & CO. now owns 4,434,260 shares of the information services provider’s stock worth $807,700,000 after buying an additional 4,410,811 shares in the last quarter. Finally, PineStone Asset Management Inc. boosted its holdings in Alphabet by 143.7% during the second quarter. PineStone Asset Management Inc. now owns 7,072,197 shares of the information services provider’s stock worth $1,288,201,000 after buying an additional 4,170,229 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Alphabet Company Profile

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.