Jefferies Financial Group Increases Alphabet (NASDAQ:GOOGL) Price Target to $220.00

Alphabet (NASDAQ:GOOGLGet Free Report) had its target price increased by investment analysts at Jefferies Financial Group from $215.00 to $220.00 in a note issued to investors on Tuesday, BayStreet.CA reports. Jefferies Financial Group’s target price points to a potential upside of 15.07% from the stock’s previous close.

Other research analysts also recently issued reports about the company. Wolfe Research lifted their price target on Alphabet from $180.00 to $200.00 and gave the stock an “outperform” rating in a research report on Friday, April 26th. Barclays boosted their price objective on Alphabet from $173.00 to $200.00 and gave the company an “overweight” rating in a research report on Friday, April 26th. Argus boosted their price objective on Alphabet from $170.00 to $200.00 and gave the company a “buy” rating in a research report on Tuesday, April 30th. Tigress Financial boosted their price objective on Alphabet from $176.00 to $210.00 and gave the company a “strong-buy” rating in a research report on Friday, May 24th. Finally, Morgan Stanley restated an “overweight” rating and set a $195.00 price objective on shares of Alphabet in a research report on Wednesday, May 15th. Six 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. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $195.06.

View Our Latest Report on Alphabet

Alphabet Stock Performance

Shares of NASDAQ GOOGL opened at $191.18 on Tuesday. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.05. The business’s 50 day moving average is $176.95 and its two-hundred day moving average is $157.15. The company has a market cap of $2.36 trillion, a P/E ratio of 29.32, a P/E/G ratio of 1.42 and a beta of 1.05. Alphabet has a 12 month low of $115.35 and a 12 month high of $191.75.

Alphabet (NASDAQ:GOOGLGet Free Report) last issued its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 EPS for the quarter, topping the consensus estimate of $1.49 by $0.40. The company had revenue of $80.54 billion for the quarter, compared to the consensus estimate of $66.04 billion. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. During the same period in the previous year, the business posted $1.17 EPS. On average, equities analysts expect that Alphabet will post 7.6 EPS for the current year.

Insider Activity at Alphabet

In related news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction dated Wednesday, April 17th. The stock was sold at an average price of $157.41, for a total value of $3,541,725.00. Following the completion of the sale, the chief executive officer now owns 2,303,011 shares in the company, valued at $362,516,961.51. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction dated Wednesday, April 17th. The stock was sold at an average price of $157.41, for a total value of $3,541,725.00. Following the completion of the sale, the chief executive officer now directly owns 2,303,011 shares in the company, valued at $362,516,961.51. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Prabhakar Raghavan sold 3,262 shares of the stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $183.99, for a total value of $600,175.38. Following the completion of the sale, the senior vice president now owns 9 shares of the company’s stock, valued at $1,655.91. The disclosure for this sale can be found here. Over the last quarter, insiders sold 123,788 shares of company stock worth $21,143,403. 11.55% of the stock is owned by insiders.

Institutional Investors Weigh In On Alphabet

Several large investors have recently modified their holdings of the business. Cyr Financial Inc. acquired a new position in shares of Alphabet during the second quarter worth about $787,000. Csenge Advisory Group boosted its position in shares of Alphabet by 18.0% during the second quarter. Csenge Advisory Group now owns 72,132 shares of the information services provider’s stock worth $13,139,000 after buying an additional 11,002 shares during the period. Fortitude Family Office LLC boosted its position in shares of Alphabet by 12.3% during the second quarter. Fortitude Family Office LLC now owns 8,723 shares of the information services provider’s stock worth $1,589,000 after buying an additional 953 shares during the period. Indiana Trust & Investment Management CO boosted its position in shares of Alphabet by 3.1% during the second quarter. Indiana Trust & Investment Management CO now owns 50,432 shares of the information services provider’s stock worth $9,186,000 after buying an additional 1,518 shares during the period. Finally, Legacy Financial Strategies LLC boosted its position in shares of Alphabet by 14.0% during the second quarter. Legacy Financial Strategies LLC now owns 5,981 shares of the information services provider’s stock worth $1,111,000 after buying an additional 736 shares during the period. 40.03% of the stock is currently owned by institutional investors.

Alphabet Company Profile

(Get Free Report)

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.

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