Rosenblatt Securities Reaffirms “Neutral” Rating for Alphabet (NASDAQ:GOOGL)

Alphabet (NASDAQ:GOOGL)‘s stock had its “neutral” rating reaffirmed by equities researchers at Rosenblatt Securities in a research report issued on Wednesday,Benzinga reports. They currently have a $205.00 target price on the information services provider’s stock. Rosenblatt Securities’ target price points to a potential upside of 27.59% from the stock’s previous close.

A number of other brokerages also recently weighed in on GOOGL. Bank of America reaffirmed a “buy” rating and issued a $210.00 target price on shares of Alphabet in a research note on Monday, December 23rd. Needham & Company LLC reiterated a “buy” rating and issued a $225.00 price objective on shares of Alphabet in a research report on Wednesday, February 5th. Robert W. Baird restated an “outperform” rating and set a $205.00 target price on shares of Alphabet in a research report on Tuesday, December 10th. KeyCorp decreased their price target on Alphabet from $220.00 to $202.00 and set an “overweight” rating on the stock in a report on Tuesday. Finally, Stifel Nicolaus raised their target price on shares of Alphabet from $200.00 to $225.00 and gave the company a “buy” rating in a research note on Monday, January 13th. Ten investment analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Alphabet has a consensus rating of “Moderate Buy” and an average price target of $210.64.

Alphabet Trading Down 2.2 %

Shares of GOOGL stock opened at $160.67 on Wednesday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.84 and a current ratio of 1.84. The firm has a fifty day moving average of $184.35 and a 200-day moving average of $176.56. Alphabet has a 52-week low of $146.08 and a 52-week high of $207.05. The stock has a market cap of $1.96 trillion, a price-to-earnings ratio of 19.96, a P/E/G ratio of 1.34 and a beta of 1.02.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share for the quarter, topping the consensus estimate of $2.12 by $0.03. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. On average, equities research analysts forecast that Alphabet will post 8.9 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CAO Amie Thuener O’toole sold 1,340 shares of Alphabet stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $202.08, for a total transaction of $270,787.20. Following the completion of the sale, the chief accounting officer now directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John L. Hennessy sold 200 shares of Alphabet stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $165.53, for a total value of $33,106.00. Following the transaction, the director now directly owns 7,813 shares of the company’s stock, valued at approximately $1,293,285.89. This represents a 2.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 93,048 shares of company stock valued at $17,374,274 over the last ninety days. Company insiders own 11.55% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. 111 Capital purchased a new stake in shares of Alphabet during the fourth quarter valued at approximately $3,599,000. Thoma Capital Management LLC bought a new stake in shares of Alphabet during the fourth quarter valued at approximately $1,146,000. NorthCrest Asset Manangement LLC raised its stake in shares of Alphabet by 1.6% during the fourth quarter. NorthCrest Asset Manangement LLC now owns 304,758 shares of the information services provider’s stock valued at $57,691,000 after purchasing an additional 4,815 shares in the last quarter. Members Wealth LLC purchased a new position in Alphabet in the 4th quarter worth about $519,000. Finally, Tableaux LLC acquired a new stake in shares of Alphabet during the 4th quarter valued at $454,000. Institutional investors and hedge funds own 40.03% of the company’s stock.

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.