Alphabet (NASDAQ:GOOGL) PT Raised to $200.00

Alphabet (NASDAQ:GOOGL) had its price target upped by investment analysts at JPMorgan Chase & Co. from $165.00 to $200.00 in a note issued to investors on Friday, Benzinga reports. The brokerage presently has an “overweight” rating on the information services provider’s stock. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 16.31% from the company’s current price.

GOOGL has been the topic of a number of other research reports. Roth Mkm cut their target price on Alphabet from $166.00 to $164.00 and set a “buy” rating on the stock in a research note on Wednesday, January 31st. Redburn Atlantic upped their target price on Alphabet from $150.00 to $165.00 and gave the company a “buy” rating in a research note on Wednesday, January 31st. Evercore ISI upped their target price on Alphabet from $160.00 to $220.00 and gave the company an “outperform” rating in a research note on Friday. Morgan Stanley upped their target price on Alphabet from $165.00 to $195.00 and gave the company an “overweight” rating in a research note on Friday. Finally, KeyCorp increased their price objective on Alphabet from $165.00 to $175.00 and gave the stock an “overweight” rating in a research note on Monday, April 22nd. Five analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $187.82.

Alphabet Price Performance

Shares of Alphabet stock opened at $171.95 on Friday. The stock’s 50-day simple moving average is $147.85 and its 200-day simple moving average is $141.42. Alphabet has a 52 week low of $103.54 and a 52 week high of $174.71. The company has a market capitalization of $2.14 trillion, a price-to-earnings ratio of 26.37, a PEG ratio of 1.43 and a beta of 1.05. The company has a quick ratio of 2.10, a current ratio of 2.10 and a debt-to-equity ratio of 0.05.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Tuesday, January 30th. The information services provider reported $1.64 EPS for the quarter, topping analysts’ consensus estimates of $1.60 by $0.04. Alphabet had a return on equity of 30.01% and a net margin of 25.90%. The company had revenue of $86.31 billion for the quarter, compared to the consensus estimate of $70.77 billion. During the same period in the previous year, the business earned $1.05 earnings per share. As a group, analysts expect that Alphabet will post 6.79 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Ruth Porat sold 48,077 shares of Alphabet 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 sale, the chief financial officer now directly owns 1,777,106 shares in the company, valued at approximately $243,854,485.32. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Alphabet news, Director Frances Arnold sold 230 shares of the firm’s stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $154.06, for a total value of $35,433.80. Following the transaction, the director now directly owns 15,104 shares of the company’s stock, valued at approximately $2,326,922.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Ruth Porat sold 48,077 shares of the firm’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $137.22, for a total transaction of $6,597,125.94. Following the completion of the transaction, the chief financial officer now directly owns 1,777,106 shares in the company, valued at $243,854,485.32. The disclosure for this sale can be found here. In the last three months, insiders have sold 253,439 shares of company stock worth $36,746,578. Insiders own 0.88% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Chico Wealth RIA purchased a new stake in shares of Alphabet during the 3rd quarter valued at approximately $330,000. Summit Global Investments lifted its stake in Alphabet by 67.7% during the third quarter. Summit Global Investments now owns 241,463 shares of the information services provider’s stock worth $31,598,000 after purchasing an additional 97,466 shares in the last quarter. Prentice Wealth Management LLC lifted its stake in Alphabet by 18.1% during the third quarter. Prentice Wealth Management LLC now owns 7,140 shares of the information services provider’s stock worth $934,000 after purchasing an additional 1,096 shares in the last quarter. Sunflower Bank N.A. lifted its stake in Alphabet by 6.3% during the third quarter. Sunflower Bank N.A. now owns 5,951 shares of the information services provider’s stock worth $779,000 after purchasing an additional 353 shares in the last quarter. Finally, David J Yvars Group lifted its stake in Alphabet by 10.3% during the third quarter. David J Yvars Group now owns 4,170 shares of the information services provider’s stock worth $546,000 after purchasing an additional 390 shares in the last quarter. 40.03% of the stock is owned by hedge funds and other institutional investors.

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.