Alphabet (NASDAQ:GOOGL) PT Raised to $210.00

Alphabet (NASDAQ:GOOGL) had its price objective upped by investment analysts at Needham & Company LLC from $160.00 to $210.00 in a research report issued on Friday, Benzinga reports. The firm currently has a “buy” rating on the information services provider’s stock. Needham & Company LLC’s price target would indicate a potential upside of 22.13% from the stock’s previous close.

Several other equities research analysts have also recently weighed in on GOOGL. Royal Bank of Canada restated an “outperform” rating and issued a $155.00 price target on shares of Alphabet in a research report on Wednesday, January 31st. Wedbush restated an “outperform” rating and issued a $175.00 price target on shares of Alphabet in a research report on Wednesday, April 10th. Truist Financial boosted their price target on shares of Alphabet from $158.00 to $170.00 and gave the stock a “buy” rating in a research report on Wednesday, April 17th. JMP Securities restated a “market outperform” rating and issued a $160.00 price target on shares of Alphabet in a research report on Wednesday, April 10th. Finally, Wolfe Research boosted their price target on shares of Alphabet from $170.00 to $180.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 31st. Five research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $187.82.

Alphabet Trading Up 10.2 %

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

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data 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. Alphabet had a net margin of 25.90% and a return on equity of 30.01%. The firm had revenue of $86.31 billion for the quarter, compared to analysts’ expectations of $70.77 billion. During the same quarter last year, the business posted $1.05 earnings per share. On average, equities analysts predict 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 the company’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $137.22, for a total value of $6,597,125.94. Following the completion of the sale, the chief financial officer now directly owns 1,777,106 shares of the company’s stock, valued at $243,854,485.32. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Alphabet news, CFO Ruth Porat sold 48,077 shares of the stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $137.22, for a total transaction of $6,597,125.94. Following the completion of the sale, the chief financial officer now directly owns 1,777,106 shares of the company’s stock, valued at $243,854,485.32. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Prabhakar Raghavan sold 3,258 shares of the stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $155.97, for a total transaction of $508,150.26. Following the sale, the senior vice president now directly owns 144,685 shares of the company’s stock, valued at $22,566,519.45. The disclosure for this sale can be found here. Insiders sold a total of 253,439 shares of company stock valued at $36,746,578 over the last three months. 0.88% of the stock is owned by company insiders.

Institutional Trading of Alphabet

Several hedge funds have recently modified their holdings of GOOGL. Vanguard Group Inc. increased its holdings in shares of Alphabet by 1.3% during the fourth 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. FMR LLC increased its holdings in shares of Alphabet by 5.6% during the third 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. Norges Bank acquired a new position in shares of Alphabet during the fourth quarter valued at about $15,441,917,000. Northern Trust Corp increased its holdings in shares of Alphabet by 3.7% during the third quarter. Northern Trust Corp now owns 67,684,197 shares of the information services provider’s stock valued at $8,857,154,000 after acquiring an additional 2,416,328 shares in the last quarter. Finally, Fisher Asset Management LLC increased its holdings in shares of Alphabet by 3.4% during the fourth quarter. Fisher Asset Management LLC now owns 45,220,857 shares of the information services provider’s stock valued at $6,316,902,000 after acquiring an additional 1,472,043 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.