Alphabet (NASDAQ:GOOGL) PT Raised to $205.00 at Wedbush

Alphabet (NASDAQ:GOOGL) had its price objective upped by stock analysts at Wedbush from $175.00 to $205.00 in a report released on Friday, Benzinga reports. The firm presently has an “outperform” rating on the information services provider’s stock. Wedbush’s price objective indicates a potential upside of 19.22% from the company’s previous close. Wedbush also issued estimates for Alphabet’s Q2 2024 earnings at $1.85 EPS, Q3 2024 earnings at $1.78 EPS, Q4 2024 earnings at $1.96 EPS and FY2025 earnings at $8.25 EPS.

Several other equities research analysts have also weighed in on GOOGL. Jefferies Financial Group upped their price objective on Alphabet from $175.00 to $180.00 and gave the company a “buy” rating in a research note on Friday, April 19th. BMO Capital Markets restated an “outperform” rating and set a $185.00 price target (up from $178.00) on shares of Alphabet in a research report on Wednesday, April 10th. Rosenblatt Securities increased their price target on Alphabet from $172.00 to $182.00 and gave the stock a “buy” rating in a research report on Friday. Wells Fargo & Company decreased their price target on Alphabet from $144.00 to $141.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 3rd. Finally, Citigroup increased their price target on Alphabet from $168.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday. Five equities research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $187.82.

Alphabet Trading Up 10.2 %

GOOGL stock opened at $171.95 on Friday. Alphabet has a 1-year low of $103.54 and a 1-year high of $174.71. The firm has a market cap of $2.14 trillion, a P/E ratio of 26.37, a P/E/G ratio of 1.43 and a beta of 1.05. The business’s 50 day moving average is $147.85 and its 200-day moving average is $141.42. The company has a current ratio of 2.10, a quick ratio of 2.10 and a debt-to-equity ratio of 0.05.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Tuesday, January 30th. The information services provider reported $1.64 earnings per share for the quarter, beating the consensus estimate 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 analyst estimates of $70.77 billion. During the same period in the prior year, the company posted $1.05 EPS. Equities analysts anticipate that Alphabet will post 6.79 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Alphabet news, Director Frances Arnold sold 230 shares of Alphabet stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $154.06, for a total value of $35,433.80. Following the sale, the director now owns 15,104 shares of the company’s stock, valued at approximately $2,326,922.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $132.70, for a total value of $2,985,750.00. Following the sale, the chief executive officer now owns 2,332,691 shares of the company’s stock, valued at approximately $309,548,095.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Frances Arnold sold 230 shares of Alphabet stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $154.06, for a total value of $35,433.80. Following the completion of the sale, the director now directly owns 15,104 shares in the company, valued at approximately $2,326,922.24. The disclosure for this sale can be found here. In the last quarter, insiders have sold 253,439 shares of company stock valued at $36,746,578. 0.88% of the stock is owned by company insiders.

Institutional Trading of Alphabet

Several hedge funds and other institutional investors have recently modified their holdings of the company. Norges Bank bought a new position in shares of Alphabet in the 4th quarter valued at about $15,441,917,000. FMR LLC grew its holdings in shares of Alphabet by 5.6% in the 3rd quarter. FMR LLC now owns 227,317,469 shares of the information services provider’s stock valued at $29,746,764,000 after acquiring an additional 12,070,681 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Alphabet by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 493,810,251 shares of the information services provider’s stock valued at $68,980,354,000 after acquiring an additional 6,374,756 shares in the last quarter. Public Employees Retirement Association of Colorado grew its holdings in shares of Alphabet by 39,754.9% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 6,025,667 shares of the information services provider’s stock valued at $841,725,000 after acquiring an additional 6,010,548 shares in the last quarter. Finally, International Assets Investment Management LLC grew its holdings in shares of Alphabet by 4,894.1% in the 4th quarter. International Assets Investment Management LLC now owns 5,445,396 shares of the information services provider’s stock valued at $7,606,670,000 after acquiring an additional 5,336,359 shares in 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.