Alphabet Inc. (NASDAQ:GOOGL) Receives $301.98 Average PT from Brokerages

Shares of Alphabet Inc. (NASDAQ:GOOGL) have earned a consensus rating of “Moderate Buy” from the forty-seven analysts that are currently covering the stock, Marketbeat.com reports. Nine research analysts have rated the stock with a hold recommendation, thirty-five have given a buy recommendation and three have issued a strong buy recommendation on the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $302.1957.

GOOGL has been the subject of a number of recent analyst reports. Phillip Securities downgraded Alphabet from a “strong-buy” rating to a “moderate buy” rating in a research report on Monday, September 8th. Citizens Jmp lifted their price objective on Alphabet from $250.00 to $290.00 and gave the company an “outperform” rating in a research report on Friday, September 19th. Hsbc Global Res raised Alphabet to a “strong-buy” rating in a research report on Tuesday, October 7th. Canaccord Genuity Group lifted their price objective on Alphabet from $270.00 to $330.00 and gave the company a “buy” rating in a research report on Thursday, October 30th. Finally, Moffett Nathanson lifted their price objective on Alphabet from $295.00 to $305.00 and gave the company a “buy” rating in a research report on Thursday, October 30th.

Insider Activity

In other Alphabet news, Director John L. Hennessy sold 600 shares of the business’s stock in a transaction dated Monday, October 13th. The stock was sold at an average price of $242.92, for a total transaction of $145,752.00. Following the completion of the sale, the director owned 5,116 shares of the company’s stock, valued at approximately $1,242,778.72. The trade was a 10.50% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction dated Wednesday, October 15th. The shares were sold at an average price of $250.15, for a total value of $8,129,875.00. Following the sale, the chief executive officer directly owned 2,369,619 shares of the company’s stock, valued at approximately $592,760,192.85. This trade represents a 1.35% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 222,442 shares of company stock valued at $51,200,307 in the last 90 days. 11.64% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Brighton Jones LLC lifted its stake in shares of Alphabet by 3.9% in the fourth quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider’s stock worth $20,886,000 after acquiring an additional 4,110 shares in the last quarter. Revolve Wealth Partners LLC lifted its stake in shares of Alphabet by 3.5% in the fourth quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider’s stock worth $2,826,000 after acquiring an additional 506 shares in the last quarter. Jag Capital Management LLC lifted its stake in shares of Alphabet by 24.8% in the first quarter. Jag Capital Management LLC now owns 121,707 shares of the information services provider’s stock worth $18,821,000 after acquiring an additional 24,152 shares in the last quarter. Mcdaniel Terry & Co. lifted its stake in shares of Alphabet by 3.3% in the first quarter. Mcdaniel Terry & Co. now owns 15,007 shares of the information services provider’s stock worth $2,321,000 after acquiring an additional 479 shares in the last quarter. Finally, Vista Investment Partners II LLC lifted its stake in shares of Alphabet by 5.6% in the first quarter. Vista Investment Partners II LLC now owns 5,331 shares of the information services provider’s stock worth $824,000 after acquiring an additional 284 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Alphabet Price Performance

Shares of NASDAQ:GOOGL opened at $283.72 on Friday. The company has a market cap of $3.43 trillion, a P/E ratio of 27.98, a P/E/G ratio of 1.86 and a beta of 1.00. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. Alphabet has a 52 week low of $140.53 and a 52 week high of $291.59. The business has a fifty day simple moving average of $245.50 and a 200-day simple moving average of $201.24.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Wednesday, October 29th. The information services provider reported $2.87 EPS for the quarter, beating analysts’ consensus estimates of $2.29 by $0.58. The business had revenue of $102.35 billion during the quarter, compared to the consensus estimate of $99.90 billion. Alphabet had a return on equity of 36.08% and a net margin of 32.23%. Equities research analysts forecast that Alphabet will post 8.9 EPS for the current year.

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.