Alphabet (NASDAQ:GOOG) Price Target Cut to $187.00 by Analysts at UBS Group

Alphabet (NASDAQ:GOOG) had its target price dropped by UBS Group from $204.00 to $187.00 in a research note issued to investors on Monday, Benzinga reports. The brokerage currently has a “neutral” rating on the information services provider’s stock. UBS Group’s price objective indicates a potential upside of 12.85% from the company’s current price.

Other equities analysts have also recently issued reports about the stock. DA Davidson raised shares of Alphabet to a “hold” rating in a research note on Tuesday, September 10th. Rosenblatt Securities cut shares of Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 target price for the company. in a research note on Friday, June 28th. Pivotal Research initiated coverage on shares of Alphabet in a research note on Tuesday, October 1st. They issued a “buy” rating and a $215.00 target price for the company. TD Cowen raised their target price on shares of Alphabet from $200.00 to $220.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. Finally, Oppenheimer decreased their target price on shares of Alphabet from $210.00 to $185.00 and set an “outperform” rating for the company in a research note on Wednesday, September 25th. Four equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Alphabet presently has a consensus rating of “Moderate Buy” and a consensus price target of $184.11.

Alphabet Price Performance

Shares of GOOG opened at $165.70 on Monday. The stock has a market capitalization of $2.05 trillion, a P/E ratio of 25.41, a P/E/G ratio of 1.21 and a beta of 1.04. Alphabet has a twelve month low of $121.46 and a twelve month high of $193.31. The company has a 50 day moving average of $163.40 and a 200-day moving average of $169.02. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.85 by $0.04. The company had revenue of $84.74 billion during the quarter, compared to analysts’ expectations of $84.22 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The business’s quarterly revenue was up 13.6% on a year-over-year basis. During the same period last year, the business earned $1.44 EPS. As a group, equities research analysts forecast that Alphabet will post 7.63 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $167.07, for a total value of $3,759,075.00. Following the transaction, the chief executive officer now directly owns 2,129,306 shares in the company, valued at $355,743,153.42. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Alphabet news, SVP Prabhakar Raghavan sold 34,257 shares of the firm’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $162.60, for a total transaction of $5,570,188.20. Following the transaction, the senior vice president now directly owns 312,210 shares in the company, valued at approximately $50,765,346. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $167.07, for a total value of $3,759,075.00. Following the transaction, the chief executive officer now owns 2,129,306 shares in the company, valued at approximately $355,743,153.42. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 217,592 shares of company stock worth $35,922,911. Corporate insiders own 12.99% of the company’s stock.

Institutional Investors Weigh In On Alphabet

Large investors have recently made changes to their positions in the business. Abich Financial Wealth Management LLC increased its holdings in Alphabet by 9,200.0% in the 2nd quarter. Abich Financial Wealth Management LLC now owns 186 shares of the information services provider’s stock worth $34,000 after acquiring an additional 184 shares during the last quarter. 1620 Investment Advisors Inc. purchased a new position in Alphabet during the 2nd quarter valued at about $37,000. HWG Holdings LP purchased a new position in Alphabet during the 2nd quarter valued at about $40,000. Richardson Financial Services Inc. purchased a new position in Alphabet during the 4th quarter valued at about $34,000. Finally, Slocum Gordon & Co LLP purchased a new position in Alphabet during the 2nd quarter valued at about $44,000. 27.26% of the stock is owned by hedge funds and other institutional investors.

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.