Alphabet (NASDAQ:GOOGL) Given New $200.00 Price Target at DA Davidson

Alphabet (NASDAQ:GOOGL) had its price objective hoisted by investment analysts at DA Davidson from $190.00 to $200.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has a “neutral” rating on the information services provider’s stock. DA Davidson’s price objective indicates a potential downside of 0.10% from the stock’s previous close.

Other analysts also recently issued reports about the stock. Wedbush increased their price target on shares of Alphabet from $210.00 to $220.00 and gave the stock an “outperform” rating in a report on Monday, January 6th. Phillip Securities raised shares of Alphabet to a “strong-buy” rating in a research note on Friday, November 1st. Pivotal Research lifted their price target on Alphabet from $215.00 to $225.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. JPMorgan Chase & Co. upped their price target on Alphabet from $212.00 to $232.00 and gave the stock an “overweight” rating in a report on Wednesday, December 18th. Finally, Wells Fargo & Company raised their price objective on Alphabet from $187.00 to $190.00 and gave the company an “equal weight” rating in a report on Monday, January 13th. Nine equities research analysts have rated the stock with a hold rating, thirty have given a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $209.44.

Alphabet Stock Performance

Shares of GOOGL stock opened at $200.21 on Friday. Alphabet has a 52-week low of $130.66 and a 52-week high of $202.29. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. The stock has a market cap of $2.45 trillion, a PE ratio of 26.55, a price-to-earnings-growth ratio of 1.27 and a beta of 0.98. The business has a 50-day simple moving average of $186.46 and a 200-day simple moving average of $173.80.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. The company had revenue of $88.27 billion during the quarter, compared to the consensus estimate of $72.85 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. During the same period in the previous year, the company posted $1.55 earnings per share. On average, equities analysts expect that Alphabet will post 8.02 EPS for the current year.

Insider Buying and Selling at Alphabet

In related news, Director John L. Hennessy sold 1,500 shares of the firm’s stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $194.22, for a total transaction of $291,330.00. Following the completion of the transaction, the director now directly owns 23,324 shares in the company, valued at $4,529,987.28. This trade represents a 6.04 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Amie Thuener O’toole sold 2,834 shares of Alphabet stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $194.32, for a total transaction of $550,702.88. Following the completion of the transaction, the chief accounting officer now owns 17,847 shares of the company’s stock, valued at $3,468,029.04. This trade represents a 13.70 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 133,387 shares of company stock worth $24,368,654 over the last quarter. 11.55% of the stock is currently owned by company insiders.

Institutional Trading of Alphabet

Large investors have recently modified their holdings of the stock. State Street Corp raised its holdings in shares of Alphabet by 0.3% in the 3rd quarter. State Street Corp now owns 222,555,548 shares of the information services provider’s stock valued at $36,910,838,000 after purchasing an additional 743,369 shares in the last quarter. Geode Capital Management LLC increased its holdings in Alphabet by 2.0% in the third quarter. Geode Capital Management LLC now owns 134,030,679 shares of the information services provider’s stock valued at $22,154,651,000 after buying an additional 2,626,431 shares during the last quarter. JPMorgan Chase & Co. raised its stake in Alphabet by 7.7% in the third quarter. JPMorgan Chase & Co. now owns 63,667,407 shares of the information services provider’s stock valued at $10,559,240,000 after buying an additional 4,567,275 shares in the last quarter. Fisher Asset Management LLC lifted its holdings in Alphabet by 2.5% during the 3rd quarter. Fisher Asset Management LLC now owns 49,857,900 shares of the information services provider’s stock worth $8,268,933,000 after buying an additional 1,237,385 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Alphabet by 1.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 37,233,079 shares of the information services provider’s stock worth $6,175,106,000 after acquiring an additional 523,416 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.