Alphabet (NASDAQ:GOOG) Price Target Cut to $400.00 by Analysts at Raymond James Financial

Alphabet (NASDAQ:GOOG) had its price target reduced by Raymond James Financial from $425.00 to $400.00 in a research note issued on Thursday. The firm presently has a “strong-buy” rating on the information services provider’s stock. Raymond James Financial’s price objective suggests a potential upside of 26.46% from the stock’s previous close.

A number of other equities research analysts have also commented on GOOG. Oppenheimer restated an “outperform” rating and set a $400.00 price objective (down from $445.00) on shares of Alphabet in a research report on Thursday. Rosenblatt Securities set a $393.00 price target on shares of Alphabet in a research note on Thursday. Barclays reiterated an “overweight” rating and issued a $425.00 price target (up from $405.00) on shares of Alphabet in a research note on Thursday. Stifel Nicolaus set a $420.00 price target on shares of Alphabet in a research report on Wednesday, May 20th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $420.00 price objective (down from $435.00) on shares of Alphabet in a research report on Thursday. Five analysts have rated the stock with a Strong Buy rating, thirty have given a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, Alphabet presently has a consensus rating of “Buy” and an average target price of $408.27.

Alphabet Stock Performance

GOOG stock traded down $25.60 during midday trading on Thursday, hitting $316.31. 18,257,247 shares of the stock traded hands, compared to its average volume of 21,381,564. Alphabet has a 1-year low of $188.70 and a 1-year high of $404.47. The firm has a market cap of $3.83 trillion, a P/E ratio of 24.17, a PEG ratio of 1.43 and a beta of 1.23. The stock’s fifty day simple moving average is $363.69 and its 200-day simple moving average is $337.49. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.92 and a quick ratio of 1.92.

Alphabet (NASDAQ:GOOG) last issued its earnings results on Thursday, July 23rd. The information services provider reported $9.11 earnings per share for the quarter, topping the consensus estimate of $2.88 by $6.23. Alphabet had a return on equity of 38.99% and a net margin of 37.92%.The business had revenue of $119.80 billion for the quarter, compared to analyst estimates of $117.06 billion. During the same quarter last year, the company earned $2.31 EPS. The business’s quarterly revenue was up 24.2% on a year-over-year basis. On average, analysts expect that Alphabet will post 14.34 earnings per share for the current year.

Insider Transactions at Alphabet

In other Alphabet news, Director John L. Hennessy sold 1,050 shares of the company’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $368.63, for a total transaction of $387,061.50. Following the completion of the sale, the director directly owned 1,481 shares in the company, valued at $545,941.03. This represents a 41.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Marsida Saraci sold 449 shares of the stock in a transaction that occurred on Friday, June 26th. The stock was sold at an average price of $341.72, for a total value of $153,432.28. Following the transaction, the chief accounting officer directly owned 27,348 shares in the company, valued at approximately $9,345,358.56. This represents a 1.62% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 159,415 shares of company stock valued at $7,672,279 over the last quarter. Insiders own 12.99% of the company’s stock.

Hedge Funds Weigh In On Alphabet

Several large investors have recently bought and sold shares of the stock. Imprint Wealth LLC bought a new stake in shares of Alphabet during the third quarter valued at approximately $31,000. Nvest Wealth Strategies Inc. bought a new stake in shares of Alphabet during the 4th quarter worth approximately $38,000. Lifetime Wealth Management P.C. acquired a new position in Alphabet in the 4th quarter valued at approximately $38,000. Bard Associates Inc. bought a new stake in Alphabet in the fourth quarter worth approximately $41,000. Finally, Towne Trust Company N.A grew its position in Alphabet by 34.0% in the 4th quarter. Towne Trust Company N.A now owns 134 shares of the information services provider’s stock valued at $42,000 after purchasing an additional 34 shares during the period. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Key Headlines Impacting Alphabet

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet delivered a strong Q2 beat, with revenue, EPS, and cloud growth all topping expectations, reinforcing the strength of Search, YouTube, and Google Cloud. Google quarterly cloud revenue growth beats expectations
• Positive Sentiment: Google Cloud momentum and rising Gemini usage suggest Alphabet’s AI investments are beginning to show returns, which could support longer-term growth. Alphabet Beats on Cloud Revenue, Posts Strong Gemini Usage
• Positive Sentiment: Analyst sentiment remains constructive, with several firms maintaining buy ratings and raising price targets after the earnings report. Tickerreport.com
• Neutral Sentiment: Alphabet also announced new, cheaper Gemini model updates and work on efficiency-improving AI chips, which may help offset future infrastructure costs if execution improves. Google releases three new Gemini models — but no 3.5 Pro
• Negative Sentiment: Investors are worried Alphabet’s AI capex spree is getting too large, especially after the company raised spending guidance and reported negative free cash flow. Alphabet’s cash burn raises alarm for Big Tech as AI spending climbs
• Negative Sentiment: Alphabet also faces added regulatory pressure after the EU hit Google with a roughly $1 billion antitrust fine over Search and Play Store practices. Google hit with $1 billion EU fine, first under landmark rules

About Alphabet

Alphabet Inc (NASDAQ: GOOG) is a multinational technology holding company headquartered in Mountain View, California. Formed in 2015 through a corporate restructuring of Google, Alphabet serves as the parent to Google LLC and a portfolio of businesses collectively known as “Other Bets.” Google was originally founded in 1998 by Larry Page and Sergey Brin; Alphabet is led by CEO Sundar Pichai, who oversees Google and the broader company while the founders remain prominent shareholders and influential figures in the company’s history.

Alphabet’s core business centers on internet search and advertising, with Google Search and the company’s ad platforms (including Google Ads and AdSense) generating the majority of revenue by connecting advertisers with consumers worldwide.