Alphabet (NASDAQ:GOOGL) Given Neutral Rating at DA Davidson

Alphabet (NASDAQ:GOOGL)‘s stock had its “neutral” rating reiterated by equities research analysts at DA Davidson in a research report issued to clients and investors on Tuesday,Benzinga reports. They presently have a $300.00 price target on the information services provider’s stock. DA Davidson’s target price would suggest a potential downside of 6.90% from the company’s current price.

Several other analysts also recently issued reports on the company. Phillip Securities raised Alphabet from a “moderate buy” rating to a “strong-buy” rating in a research note on Friday, November 7th. Deutsche Bank Aktiengesellschaft lifted their target price on Alphabet from $260.00 to $340.00 and gave the company a “buy” rating in a research report on Thursday, October 30th. Citic Securities upped their price target on Alphabet from $230.00 to $310.00 and gave the stock a “buy” rating in a research report on Monday, November 3rd. Daiwa Capital Markets raised their price target on shares of Alphabet from $233.00 to $333.00 and gave the stock a “buy” rating in a research note on Thursday, November 6th. Finally, BNP Paribas initiated coverage on shares of Alphabet in a research report on Monday. They issued an “outperform” rating and a $355.00 price objective on the stock. Four investment analysts have rated the stock with a Strong Buy rating, forty-one have given a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $307.84.

Alphabet Stock Up 1.1%

Shares of GOOGL traded up $3.65 on Tuesday, hitting $322.23. The company’s stock had a trading volume of 65,804,397 shares, compared to its average volume of 36,657,121. The firm’s fifty day moving average price is $263.73 and its 200-day moving average price is $215.00. Alphabet has a fifty-two week low of $140.53 and a fifty-two week high of $328.83. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $3.89 trillion, a price-to-earnings ratio of 31.77, a P/E/G ratio of 1.86 and a beta of 1.05.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Wednesday, October 29th. The information services provider reported $2.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.29 by $0.58. Alphabet had a net margin of 32.23% and a return on equity of 36.08%. The company had revenue of $102.35 billion during the quarter, compared to the consensus estimate of $99.90 billion. On average, equities research analysts expect that Alphabet will post 8.9 EPS for the current year.

Insider Transactions at Alphabet

In related news, insider John Kent Walker sold 17,816 shares of Alphabet stock in a transaction dated Monday, September 29th. The shares were sold at an average price of $247.42, for a total transaction of $4,408,034.72. Following the completion of the sale, the insider owned 42,985 shares of the company’s stock, valued at approximately $10,635,348.70. The trade was a 29.30% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction that occurred on Wednesday, October 15th. The stock was sold at an average price of $250.15, for a total transaction of $8,129,875.00. Following the sale, the chief executive officer owned 2,369,619 shares of the company’s stock, valued at $592,760,192.85. This trade represents a 1.35% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 225,174 shares of company stock worth $58,095,223. 11.64% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in GOOGL. Guardian Wealth Management Inc. increased its position in shares of Alphabet by 242.9% in the first quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider’s stock worth $26,000 after purchasing an additional 119 shares during the period. IMA Advisory Services Inc. acquired a new stake in shares of Alphabet in the 1st quarter valued at approximately $28,000. NBZ Investment Advisors LLC grew its holdings in shares of Alphabet by 85.7% during the 1st quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider’s stock valued at $30,000 after purchasing an additional 90 shares during the last quarter. Financial Gravity Companies Inc. acquired a new position in Alphabet during the 2nd quarter worth approximately $31,000. Finally, CarsonAllaria Wealth Management Ltd. increased its position in Alphabet by 36.4% during the 2nd quarter. CarsonAllaria Wealth Management Ltd. now owns 251 shares of the information services provider’s stock worth $44,000 after purchasing an additional 67 shares in the last quarter. 40.03% of the stock is owned by institutional investors and hedge funds.

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.