Alphabet (NASDAQ:GOOGL) PT Raised to $190.00 at Canaccord Genuity Group

Alphabet (NASDAQ:GOOGL) had its price objective hoisted by investment analysts at Canaccord Genuity Group from $180.00 to $190.00 in a report released on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the information services provider’s stock. Canaccord Genuity Group’s price objective indicates a potential upside of 21.79% from the company’s current price.

GOOGL has been the subject of a number of other research reports. Citigroup reiterated a “buy” rating and set a $168.00 price target on shares of Alphabet in a research note on Wednesday, April 10th. BMO Capital Markets restated an “outperform” rating and issued a $185.00 target price (up previously from $178.00) on shares of Alphabet in a research note on Wednesday, April 10th. KeyCorp raised their target price on shares of Alphabet from $153.00 to $165.00 and gave the stock an “overweight” rating in a research note on Monday, January 29th. Rosenblatt Securities reduced their target price on shares of Alphabet from $174.00 to $172.00 and set a “buy” rating for the company in a research note on Wednesday, January 31st. Finally, StockNews.com upgraded shares of Alphabet from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, December 20th. Five equities research analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $157.97.

Alphabet Trading Up 0.3 %

Shares of NASDAQ:GOOGL opened at $156.01 on Wednesday. Alphabet has a 52 week low of $102.63 and a 52 week high of $160.22. The company’s 50 day moving average is $146.16 and its two-hundred day moving average is $140.40. The company has a current ratio of 2.10, a quick ratio of 2.10 and a debt-to-equity ratio of 0.05. The company has a market cap of $1.94 trillion, a PE ratio of 26.90, a P/E/G ratio of 1.42 and a beta of 1.05.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Tuesday, January 30th. The information services provider reported $1.64 EPS for the quarter, beating analysts’ consensus estimates of $1.60 by $0.04. The firm had revenue of $86.31 billion for the quarter, compared to the consensus estimate of $70.77 billion. Alphabet had a net margin of 24.01% and a return on equity of 27.22%. During the same period last year, the firm posted $1.05 EPS. Equities analysts predict that Alphabet will post 6.78 earnings per share for the current fiscal year.

Insider Buying and Selling at Alphabet

In other news, CFO Ruth Porat sold 48,077 shares of the company’s stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $137.22, for a total value of $6,597,125.94. Following the transaction, the chief financial officer now owns 1,777,106 shares in the company, valued at approximately $243,854,485.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Ruth Porat sold 48,077 shares of the company’s stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $137.22, for a total value of $6,597,125.94. Following the transaction, the chief financial officer now owns 1,777,106 shares in the company, valued at approximately $243,854,485.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John L. Hennessy sold 800 shares of the stock in a transaction that occurred on Friday, April 12th. The stock was sold at an average price of $159.56, for a total value of $127,648.00. Following the completion of the transaction, the director now owns 7,991 shares in the company, valued at approximately $1,275,043.96. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 251,339 shares of company stock valued at $36,377,482. 0.88% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Alphabet

A number of large investors have recently added to or reduced their stakes in the stock. Plimoth Trust Co. LLC boosted its position in Alphabet by 6.2% during the first quarter. Plimoth Trust Co. LLC now owns 69,477 shares of the information services provider’s stock worth $10,486,000 after purchasing an additional 4,037 shares during the period. Silverlake Wealth Management LLC boosted its position in shares of Alphabet by 77.9% in the first quarter. Silverlake Wealth Management LLC now owns 4,160 shares of the information services provider’s stock valued at $628,000 after acquiring an additional 1,822 shares during the period. Saxon Interests Inc. boosted its position in shares of Alphabet by 11.6% in the first quarter. Saxon Interests Inc. now owns 1,958 shares of the information services provider’s stock valued at $296,000 after acquiring an additional 203 shares during the period. Naviter Wealth LLC boosted its position in shares of Alphabet by 698.9% in the first quarter. Naviter Wealth LLC now owns 40,495 shares of the information services provider’s stock valued at $6,112,000 after acquiring an additional 35,426 shares during the period. Finally, Myecfo LLC boosted its position in shares of Alphabet by 7.1% in the first quarter. Myecfo LLC now owns 12,444 shares of the information services provider’s stock valued at $1,878,000 after acquiring an additional 820 shares during the period. Institutional investors own 40.03% 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.