Alphabet (NASDAQ:GOOGL) Price Target Raised to $175.00 at KeyCorp

Alphabet (NASDAQ:GOOGL) had its target price lifted by KeyCorp from $165.00 to $175.00 in a report issued on Monday, Benzinga reports. They currently have an overweight rating on the information services provider’s stock.

Several other brokerages have also commented on GOOGL. UBS Group upped their price target on Alphabet from $150.00 to $166.00 and gave the company a neutral rating in a research note on Tuesday, April 16th. Truist Financial upped their price target on Alphabet from $158.00 to $170.00 and gave the company a buy rating in a research note on Wednesday, April 17th. JMP Securities reaffirmed a market outperform rating and issued a $160.00 price target on shares of Alphabet in a research note on Wednesday, April 10th. Susquehanna upped their price target on Alphabet from $150.00 to $170.00 and gave the company a positive rating in a research note on Wednesday, January 31st. Finally, Canaccord Genuity Group increased their target price on Alphabet from $180.00 to $190.00 and gave the stock a buy rating in a research note on Wednesday, April 17th. Five investment analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of Moderate Buy and an average price target of $158.71.

Alphabet Stock Up 1.4 %

Shares of GOOGL opened at $156.28 on Monday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.10 and a current ratio of 2.10. Alphabet has a one year low of $102.63 and a one year high of $160.22. The stock has a market capitalization of $1.94 trillion, a price-to-earnings ratio of 26.94, a PEG ratio of 1.42 and a beta of 1.05. The stock has a 50 day moving average price of $146.43 and a 200 day moving average price of $140.78.

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

Insiders Place Their Bets

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction on Wednesday, April 17th. The stock was sold at an average price of $157.41, for a total transaction of $3,541,725.00. Following the sale, the chief executive officer now directly owns 2,303,011 shares in the company, valued at $362,516,961.51. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction on Wednesday, April 17th. The stock was sold at an average price of $157.41, for a total transaction of $3,541,725.00. Following the sale, the chief executive officer now directly owns 2,303,011 shares in the company, valued at $362,516,961.51. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director John L. Hennessy sold 800 shares of the business’s stock in a transaction 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 sale, the director now owns 7,991 shares in the company, valued at $1,275,043.96. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 251,339 shares of company stock worth $36,377,482. 0.88% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Alphabet

Institutional investors have recently made changes to their positions in the stock. Matrix Asset Advisors Inc. NY increased its stake in Alphabet by 9.1% in the third quarter. Matrix Asset Advisors Inc. NY now owns 2,515 shares of the information services provider’s stock valued at $329,000 after purchasing an additional 210 shares during the last quarter. Sound Income Strategies LLC increased its stake in Alphabet by 10.0% during the third quarter. Sound Income Strategies LLC now owns 29,066 shares of the information services provider’s stock worth $3,804,000 after acquiring an additional 2,640 shares during the last quarter. Mayflower Financial Advisors LLC increased its stake in Alphabet by 0.6% during the third quarter. Mayflower Financial Advisors LLC now owns 44,258 shares of the information services provider’s stock worth $5,792,000 after acquiring an additional 282 shares during the last quarter. MKT Advisors LLC increased its stake in Alphabet by 1.2% during the third quarter. MKT Advisors LLC now owns 6,819 shares of the information services provider’s stock worth $915,000 after acquiring an additional 84 shares during the last quarter. Finally, McGuire Investment Group LLC increased its stake in Alphabet by 8.8% during the third quarter. McGuire Investment Group LLC now owns 62,448 shares of the information services provider’s stock worth $8,172,000 after acquiring an additional 5,029 shares during the last quarter. 40.03% of the stock is owned by institutional investors and hedge funds.

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.