Alphabet (NASDAQ:GOOGL) Price Target Raised to $215.00

Alphabet (NASDAQ:GOOGL) had its price target hoisted by research analysts at Jefferies Financial Group from $200.00 to $215.00 in a report released on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the information services provider’s stock. Jefferies Financial Group’s price target indicates a potential upside of 15.96% from the stock’s current price.

Other equities research analysts have also issued reports about the stock. Robert W. Baird lifted their price target on shares of Alphabet from $160.00 to $200.00 and gave the company an “outperform” rating in a research note on Friday, April 26th. Rosenblatt Securities lifted their target price on shares of Alphabet from $172.00 to $182.00 and gave the stock a “buy” rating in a report on Friday, April 26th. Roth Mkm lifted their target price on shares of Alphabet from $164.00 to $202.00 and gave the stock a “buy” rating in a report on Friday, April 26th. Sanford C. Bernstein boosted their price objective on shares of Alphabet from $165.00 to $180.00 and gave the company a “market perform” rating in a report on Friday, April 26th. Finally, Susquehanna boosted their price objective on shares of Alphabet from $170.00 to $225.00 and gave the company a “positive” rating in a report on Monday, April 29th. Five equities research analysts have rated the stock with a hold rating, thirty have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $193.69.

Alphabet Trading Up 0.8 %

Shares of NASDAQ GOOGL opened at $185.41 on Wednesday. The company’s fifty day moving average is $171.70 and its 200-day moving average is $153.58. The stock has a market cap of $2.29 trillion, a price-to-earnings ratio of 28.44, a P/E/G ratio of 1.38 and a beta of 1.01. Alphabet has a twelve month low of $115.35 and a twelve month high of $186.05. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.05.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share for the quarter, topping analysts’ consensus estimates of $1.49 by $0.40. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. The company had revenue of $80.54 billion for the quarter, compared to analysts’ expectations of $66.04 billion. During the same period last year, the firm posted $1.17 earnings per share. Equities research analysts predict that Alphabet will post 7.6 EPS for the current year.

Insider Activity

In related news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction on Wednesday, April 3rd. The shares were sold at an average price of $155.67, for a total transaction of $3,502,575.00. Following the transaction, the chief executive officer now directly owns 2,325,513 shares of the company’s stock, valued at $362,012,608.71. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Alphabet news, Director John L. Hennessy sold 1,500 shares of the firm’s stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $177.92, for a total value of $266,880.00. Following the transaction, the director now directly owns 3,727 shares of the company’s stock, valued at $663,107.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction on Wednesday, April 3rd. The shares were sold at an average price of $155.67, for a total transaction of $3,502,575.00. Following the completion of the transaction, the chief executive officer now directly owns 2,325,513 shares in the company, valued at $362,012,608.71. The disclosure for this sale can be found here. In the last three months, insiders have sold 146,284 shares of company stock valued at $24,534,393. 11.55% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Vermillion & White Wealth Management Group LLC purchased a new stake in shares of Alphabet in the fourth quarter valued at about $30,000. Tributary Capital Management LLC purchased a new stake in shares of Alphabet in the first quarter valued at about $30,000. DiNuzzo Private Wealth Inc. purchased a new stake in shares of Alphabet in the fourth quarter valued at about $38,000. Meritage Group LP increased its holdings in Alphabet by 1,061.5% during the third quarter. Meritage Group LP now owns 302 shares of the information services provider’s stock worth $40,000 after buying an additional 276 shares during the last quarter. Finally, CarsonAllaria Wealth Management Ltd. increased its holdings in Alphabet by 59.2% during the first quarter. CarsonAllaria Wealth Management Ltd. now owns 293 shares of the information services provider’s stock worth $44,000 after buying an additional 109 shares during the last quarter. 40.03% of the stock is owned by 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.