Alphabet (NASDAQ:GOOGL) Price Target Cut to $208.00

Alphabet (NASDAQ:GOOGL) had its price target reduced by The Goldman Sachs Group from $217.00 to $208.00 in a research report report published on Monday morning, Marketbeat reports. The Goldman Sachs Group currently has a buy rating on the information services provider’s stock.

Other research analysts also recently issued research reports about the company. JMP Securities reiterated a “market outperform” rating and set a $200.00 price target on shares of Alphabet in a research note on Wednesday, September 25th. Truist Financial reissued a “buy” rating and set a $196.00 price objective on shares of Alphabet in a report on Monday, September 16th. Royal Bank of Canada raised their price target on Alphabet from $200.00 to $204.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $190.00 price target on shares of Alphabet in a report on Monday, October 7th. Finally, Morgan Stanley decreased their price objective on Alphabet from $205.00 to $190.00 and set an “overweight” rating on the stock in a report on Tuesday, September 3rd. Eight investment analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $201.76.

Alphabet Stock Performance

NASDAQ:GOOGL opened at $162.93 on Monday. The stock has a market cap of $2.01 trillion, a P/E ratio of 24.99, a price-to-earnings-growth ratio of 1.21 and a beta of 1.04. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.04. The stock’s 50-day moving average is $161.77 and its 200-day moving average is $168.01. Alphabet has a 1-year low of $120.21 and a 1-year high of $191.75.

Alphabet (NASDAQ:GOOGL) last issued its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, topping analysts’ consensus estimates of $1.85 by $0.04. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The company had revenue of $84.74 billion for the quarter, compared to analyst estimates of $70.60 billion. During the same period in the prior year, the firm earned $1.44 earnings per share. Equities research analysts anticipate that Alphabet will post 7.64 earnings per share for the current year.

Insider Activity at Alphabet

In other news, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $168.00, for a total transaction of $114,576.00. Following the transaction, the chief accounting officer now owns 31,334 shares in the company, valued at $5,264,112. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $168.00, for a total value of $114,576.00. Following the completion of the sale, the chief accounting officer now directly owns 31,334 shares of the company’s stock, valued at $5,264,112. This 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. Also, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $162.35, for a total transaction of $3,652,875.00. Following the completion of the sale, the chief executive officer now directly owns 2,182,385 shares of the company’s stock, 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. In the last 90 days, insiders sold 220,426 shares of company stock worth $35,993,340. 11.55% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Alphabet

Several hedge funds and other institutional investors have recently added to or reduced their stakes in GOOGL. Stratos Wealth Advisors LLC grew its position in shares of Alphabet by 2.0% during the 3rd quarter. Stratos Wealth Advisors LLC now owns 69,788 shares of the information services provider’s stock worth $11,574,000 after buying an additional 1,361 shares during the period. Stratos Wealth Partners LTD. grew its position in shares of Alphabet by 4.8% during the 3rd quarter. Stratos Wealth Partners LTD. now owns 334,330 shares of the information services provider’s stock worth $55,449,000 after buying an additional 15,320 shares during the period. Inspire Advisors LLC grew its position in shares of Alphabet by 10.1% during the 3rd quarter. Inspire Advisors LLC now owns 2,857 shares of the information services provider’s stock worth $474,000 after buying an additional 262 shares during the period. Intergy Private Wealth LLC grew its position in shares of Alphabet by 11.4% during the 3rd quarter. Intergy Private Wealth LLC now owns 2,270 shares of the information services provider’s stock worth $376,000 after buying an additional 233 shares during the period. Finally, Trust Point Inc. boosted its stake in Alphabet by 1.6% during the 3rd quarter. Trust Point Inc. now owns 52,019 shares of the information services provider’s stock worth $8,627,000 after acquiring an additional 840 shares during the last quarter. Institutional investors and hedge funds 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.