Alphabet (NASDAQ:GOOGL) Price Target Raised to $190.00 at Wells Fargo & Company

Alphabet (NASDAQ:GOOGL) had its price objective lifted by Wells Fargo & Company from $187.00 to $190.00 in a report issued on Monday,Benzinga reports. The firm presently has an “equal weight” rating on the information services provider’s stock. Wells Fargo & Company‘s price target indicates a potential upside of 0.20% from the company’s previous close.

Other analysts have also issued research reports about the stock. Sanford C. Bernstein raised their price objective on shares of Alphabet from $180.00 to $185.00 and gave the stock a “market perform” rating in a report on Wednesday, October 30th. Robert W. Baird reissued an “outperform” rating and issued a $205.00 price target on shares of Alphabet in a report on Tuesday, December 10th. Citizens Jmp lowered shares of Alphabet from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 2nd. Truist Financial lifted their target price on shares of Alphabet from $220.00 to $225.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and set a $217.00 target price (up previously from $215.00) on shares of Alphabet in a report on Wednesday, October 30th. Nine investment analysts have rated the stock with a hold rating, thirty have assigned a buy rating and four have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $207.15.

Alphabet Price Performance

GOOGL traded down $2.41 during midday trading on Monday, reaching $189.63. 6,100,299 shares of the company’s stock were exchanged, compared to its average volume of 21,596,787. The firm has a market capitalization of $2.32 trillion, a price-to-earnings ratio of 25.15, a price-to-earnings-growth ratio of 1.35 and a beta of 0.98. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. Alphabet has a one year low of $130.66 and a one year high of $201.42. The business has a 50-day simple moving average of $182.62 and a two-hundred day simple moving average of $172.95.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, topping the consensus estimate of $1.83 by $0.29. The company had revenue of $88.27 billion during the quarter, compared to analyst estimates of $72.85 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. During the same quarter last year, the business posted $1.55 earnings per share. As a group, research analysts predict that Alphabet will post 8.01 EPS for the current year.

Insider Transactions at Alphabet

In other news, Director Frances Arnold sold 441 shares of the company’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $171.06, for a total value of $75,437.46. Following the sale, the director now directly owns 16,490 shares of the company’s stock, valued at $2,820,779.40. This represents a 2.60 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Amie Thuener O’toole sold 2,834 shares of the stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $197.55, for a total transaction of $559,856.70. Following the sale, the chief accounting officer now directly owns 20,681 shares in the company, valued at $4,085,531.55. This trade represents a 12.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 154,387 shares of company stock worth $27,748,931 over the last quarter. Corporate insiders own 11.55% of the company’s stock.

Hedge Funds Weigh In On Alphabet

A number of institutional investors and hedge funds have recently made changes to their positions in the business. LMR Partners LLP purchased a new stake in Alphabet in the third quarter worth about $32,000. Denver PWM LLC bought a new position in Alphabet in the second quarter worth about $41,000. Quarry LP bought a new position in Alphabet in the second quarter worth about $53,000. Teachers Insurance & Annuity Association of America bought a new position in Alphabet in the third quarter worth about $66,000. Finally, Mendota Financial Group LLC raised its holdings in Alphabet by 19.0% in the third quarter. Mendota Financial Group LLC now owns 401 shares of the information services provider’s stock worth $67,000 after purchasing an additional 64 shares in the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

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.