Alphabet (NASDAQ:GOOG) Price Target Lowered to $200.00 at Scotiabank

Alphabet (NASDAQ:GOOG) had its target price lowered by analysts at Scotiabank from $232.00 to $200.00 in a note issued to investors on Monday,Benzinga reports. The firm presently has a “sector outperform” rating on the information services provider’s stock. Scotiabank’s price target points to a potential upside of 34.58% from the company’s current price.

Several other research analysts have also commented on GOOG. Wedbush reaffirmed an “outperform” rating and set a $220.00 price target on shares of Alphabet in a research report on Thursday, January 30th. KeyCorp lowered their price target on Alphabet from $202.00 to $185.00 and set an “overweight” rating on the stock in a report on Wednesday, April 9th. UBS Group reduced their price objective on Alphabet from $209.00 to $173.00 and set a “neutral” rating for the company in a research note on Friday, April 11th. Benchmark reissued a “negative” rating on shares of Alphabet in a report on Wednesday, February 5th. Finally, Oppenheimer lifted their price objective on shares of Alphabet from $215.00 to $225.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, fifteen have assigned a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Alphabet has a consensus rating of “Moderate Buy” and a consensus price target of $208.38.

Alphabet Stock Down 3.1 %

Alphabet stock traded down $4.75 during mid-day trading on Monday, hitting $148.61. The company had a trading volume of 7,616,580 shares, compared to its average volume of 19,380,947. The stock has a market cap of $1.81 trillion, a price-to-earnings ratio of 18.46, a PEG ratio of 1.34 and a beta of 1.04. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03. Alphabet has a 1 year low of $142.66 and a 1 year high of $208.70. The business has a fifty day moving average of $167.16 and a 200 day moving average of $177.62.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share for the quarter, beating analysts’ consensus estimates of $2.12 by $0.03. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. On average, sell-side analysts expect that Alphabet will post 8.89 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider John Kent Walker sold 17,690 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $185.51, for a total value of $3,281,671.90. Following the completion of the transaction, the insider now owns 43,111 shares of the company’s stock, valued at $7,997,521.61. The trade was a 29.09 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Amie Thuener O’toole sold 1,340 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $202.08, for a total transaction of $270,787.20. Following the sale, the chief accounting officer now owns 17,848 shares in the company, valued at approximately $3,606,723.84. This trade represents a 6.98 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 148,163 shares of company stock worth $25,361,647 in the last ninety days. Insiders own 12.99% of the company’s stock.

Institutional Investors Weigh In On Alphabet

Several hedge funds have recently made changes to their positions in the business. Norges Bank acquired a new position in Alphabet during the fourth quarter worth approximately $5,166,070,000. GAMMA Investing LLC boosted its holdings in Alphabet by 18,562.3% in the first quarter. GAMMA Investing LLC now owns 14,323,323 shares of the information services provider’s stock valued at $2,237,733,000 after acquiring an additional 14,246,573 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in Alphabet during the fourth quarter worth about $1,551,533,000. Northern Trust Corp raised its holdings in shares of Alphabet by 16.1% in the 4th quarter. Northern Trust Corp now owns 57,098,042 shares of the information services provider’s stock worth $10,873,751,000 after purchasing an additional 7,917,625 shares during the period. Finally, GQG Partners LLC grew its holdings in shares of Alphabet by 181,679.1% during the 4th quarter. GQG Partners LLC now owns 7,225,721 shares of the information services provider’s stock worth $1,376,066,000 after purchasing an additional 7,221,746 shares during the period. Institutional investors and hedge funds own 27.26% of the company’s stock.

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.