Alphabet (NASDAQ:GOOGL) Given New $340.00 Price Target at Deutsche Bank Aktiengesellschaft

Alphabet (NASDAQ:GOOGL) had its price target increased by Deutsche Bank Aktiengesellschaft from $260.00 to $340.00 in a research report released on Thursday,MarketScreener reports. The brokerage currently has a buy rating on the information services provider’s stock.

Several other analysts have also recently issued reports on GOOGL. Tigress Financial upped their price objective on shares of Alphabet from $240.00 to $280.00 and gave the company a “strong-buy” rating in a research note on Friday, September 5th. CIBC boosted their target price on shares of Alphabet to $315.00 in a report on Monday, October 20th. Barclays reiterated an “overweight” rating and issued a $315.00 target price (up from $250.00) on shares of Alphabet in a report on Thursday. Royal Bank Of Canada reiterated a “buy” rating on shares of Alphabet in a report on Thursday. Finally, Morgan Stanley boosted their target price on shares of Alphabet from $270.00 to $330.00 and gave the company an “overweight” rating in a report on Thursday. Three investment analysts have rated the stock with a Strong Buy rating, thirty-three have issued a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $301.32.

Alphabet Stock Up 2.5%

Shares of NASDAQ GOOGL opened at $281.48 on Thursday. Alphabet has a 12-month low of $140.53 and a 12-month high of $291.59. The stock has a market cap of $3.40 trillion, a PE ratio of 27.76, a P/E/G ratio of 1.86 and a beta of 1.00. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. The company has a 50-day moving average of $242.49 and a 200 day moving average of $198.83.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Wednesday, October 29th. The information services provider reported $2.87 earnings per share (EPS) for the quarter, beating 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 analysts’ expectations of $99.90 billion. As a group, sell-side analysts predict that Alphabet will post 8.9 EPS for the current fiscal year.

Insider Transactions at Alphabet

In other news, CAO Amie Thuener O’toole sold 2,778 shares of the company’s stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $245.00, for a total value of $680,610.00. Following the transaction, the chief accounting officer directly owned 17,293 shares in the company, valued at approximately $4,236,785. This represents a 13.84% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider John Kent Walker sold 23,820 shares of the company’s stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the completion of the transaction, the insider owned 42,999 shares in the company, valued at approximately $8,371,905.30. This represents a 35.65% 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 have sold 246,150 shares of company stock worth $55,805,379. 11.64% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Alphabet

A number of hedge funds have recently added to or reduced their stakes in GOOGL. Guardian Wealth Management Inc. lifted its holdings in Alphabet by 242.9% during the 1st quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider’s stock worth $26,000 after buying an additional 119 shares in the last quarter. von Borstel & Associates Inc. acquired a new stake in Alphabet in the first quarter valued at approximately $28,000. IMA Advisory Services Inc. acquired a new stake in Alphabet in the first quarter valued at approximately $28,000. NBZ Investment Advisors LLC raised its holdings in Alphabet by 85.7% in the first quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider’s stock valued at $30,000 after acquiring an additional 90 shares in the last quarter. Finally, Financial Gravity Companies Inc. acquired a new stake in Alphabet in the second quarter valued at approximately $31,000. 40.03% of the stock is currently 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.