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

Alphabet (NASDAQ:GOOG) had its price objective boosted by analysts at Pivotal Research from $215.00 to $225.00 in a report issued on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the information services provider’s stock. Pivotal Research’s price target would indicate a potential upside of 23.56% from the stock’s current price.

A number of other equities analysts have also issued reports on GOOG. Scotiabank assumed coverage on Alphabet in a report on Friday, October 11th. They issued a “sector outperform” rating and a $212.00 price objective for the company. Jefferies Financial Group increased their price target on Alphabet from $220.00 to $235.00 and gave the stock a “buy” rating in a research note on Wednesday. Cantor Fitzgerald upgraded shares of Alphabet to a “hold” rating in a research note on Thursday, September 5th. 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 report on Wednesday, September 25th. Finally, UBS Group dropped their price target on shares of Alphabet from $204.00 to $187.00 and set a “neutral” rating on the stock in a research report on Monday, October 7th. Five analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $198.69.

Alphabet Price Performance

Shares of NASDAQ GOOG opened at $182.10 on Wednesday. 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 capitalization of $2.25 trillion, a PE ratio of 26.25, a P/E/G ratio of 1.27 and a beta of 1.04. Alphabet has a 1-year low of $123.93 and a 1-year high of $193.31. The business’s fifty day moving average price is $163.39 and its two-hundred day moving average price is $170.26.

Alphabet (NASDAQ:GOOG) 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 business had revenue of $88.27 billion for the quarter, compared to analysts’ expectations of $86.39 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The company’s revenue for the quarter was up 15.1% compared to the same quarter last year. During the same quarter last year, the company earned $1.55 EPS. On average, research analysts expect that Alphabet will post 7.64 EPS for the current year.

Insider Buying and Selling

In related news, CAO Amie Thuener O’toole sold 2,835 shares of the stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $151.53, for a total value of $429,587.55. Following the completion of the transaction, the chief accounting officer now owns 29,182 shares in the company, valued at $4,421,948.46. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Alphabet news, CAO Amie Thuener O’toole sold 2,835 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $151.53, for a total value of $429,587.55. Following the completion of the transaction, the chief accounting officer now directly owns 29,182 shares in the company, valued at $4,421,948.46. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $162.35, for a total transaction of $3,652,875.00. Following the completion of the transaction, the chief executive officer now directly owns 2,182,385 shares in the company, valued at approximately $354,310,204.75. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 220,426 shares of company stock worth $35,993,340 in the last three months. 12.99% of the stock is currently owned by insiders.

Institutional Trading of Alphabet

Hedge funds have recently modified their holdings of the business. Cullinan Associates Inc. grew its stake in Alphabet by 8.4% during the 1st quarter. Cullinan Associates Inc. now owns 124,621 shares of the information services provider’s stock valued at $18,975,000 after acquiring an additional 9,612 shares in the last quarter. Westhampton Capital LLC grew its position in Alphabet by 23.9% during the first quarter. Westhampton Capital LLC now owns 4,040 shares of the information services provider’s stock valued at $615,000 after purchasing an additional 780 shares in the last quarter. Deepwater Asset Management LLC increased its stake in Alphabet by 18.5% in the 1st quarter. Deepwater Asset Management LLC now owns 89,082 shares of the information services provider’s stock valued at $13,564,000 after buying an additional 13,927 shares during the period. Exchange Capital Management Inc. lifted its position in Alphabet by 2.9% in the 1st quarter. Exchange Capital Management Inc. now owns 6,091 shares of the information services provider’s stock worth $927,000 after buying an additional 170 shares in the last quarter. Finally, Financial Strategies Group Inc. boosted its stake in shares of Alphabet by 22.8% during the 1st quarter. Financial Strategies Group Inc. now owns 43,876 shares of the information services provider’s stock valued at $6,939,000 after buying an additional 8,156 shares during the period. Hedge funds and other institutional investors own 27.26% 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.