Daiwa Capital Markets Boosts Alphabet (NASDAQ:GOOGL) Price Target to $333.00

Alphabet (NASDAQ:GOOGL) had its target price increased by analysts at Daiwa Capital Markets from $233.00 to $333.00 in a research report issued to clients and investors on Thursday,MarketScreener reports. The brokerage currently has a “buy” rating on the information services provider’s stock. Daiwa Capital Markets’ target price points to a potential upside of 19.43% from the stock’s current price.

GOOGL has been the topic of a number of other research reports. Truist Financial boosted their price objective on Alphabet from $285.00 to $320.00 and gave the stock a “buy” rating in a research report on Thursday, October 30th. DZ Bank restated a “buy” rating on shares of Alphabet in a report on Thursday, October 30th. Hsbc Global Res upgraded shares of Alphabet to a “strong-buy” rating in a research report on Tuesday, October 7th. Wells Fargo & Company raised their price objective on shares of Alphabet from $236.00 to $268.00 and gave the stock an “equal weight” rating in a report on Thursday, October 30th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on Alphabet from $260.00 to $340.00 and gave the stock a “buy” rating in a research report on Thursday, October 30th. Three research analysts have rated the stock with a Strong Buy rating, thirty-eight have issued a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $304.10.

Alphabet Price Performance

Alphabet stock opened at $278.83 on Thursday. 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 market capitalization of $3.37 trillion, a price-to-earnings ratio of 27.50, a PEG ratio of 1.86 and a beta of 1.05. The stock’s 50 day moving average is $251.23 and its 200-day moving average is $204.19. Alphabet has a 12 month low of $140.53 and a 12 month high of $291.59.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results 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. The business had revenue of $102.35 billion during the quarter, compared to analysts’ expectations of $99.90 billion. Alphabet had a return on equity of 36.08% and a net margin of 32.23%. Equities research analysts expect that Alphabet will post 8.9 EPS for the current year.

Insider Activity

In other news, CAO Amie Thuener O’toole sold 2,778 shares of the business’s stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $245.00, for a total value of $680,610.00. Following the sale, the chief accounting officer directly owned 17,293 shares of the company’s stock, valued at $4,236,785. The trade was a 13.84% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction that occurred on Wednesday, September 3rd. The shares were sold at an average price of $229.73, for a total transaction of $7,466,225.00. Following the sale, the chief executive officer owned 2,429,892 shares in the company, valued at approximately $558,219,089.16. The trade was a 1.32% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 222,396 shares of company stock worth $54,105,275. Insiders own 11.64% of the company’s stock.

Hedge Funds Weigh In On Alphabet

A number of institutional investors and hedge funds have recently modified their holdings of the company. Cumberland Partners Ltd boosted its position in Alphabet by 9.4% in the third quarter. Cumberland Partners Ltd now owns 106,655 shares of the information services provider’s stock worth $25,928,000 after purchasing an additional 9,166 shares during the last quarter. Mcrae Capital Management Inc. boosted its stake in shares of Alphabet by 15.7% in the third quarter. Mcrae Capital Management Inc. now owns 52,778 shares of the information services provider’s stock worth $12,831,000 after acquiring an additional 7,180 shares during the period. CFO4Life Group LLC grew its stake in Alphabet by 4.1% during the third quarter. CFO4Life Group LLC now owns 28,643 shares of the information services provider’s stock valued at $6,963,000 after acquiring an additional 1,118 shares in the last quarter. Collaborative Wealth Managment Inc. bought a new position in shares of Alphabet during the 3rd quarter valued at approximately $221,000. Finally, Harold Davidson & Associates Inc. lifted its holdings in shares of Alphabet by 47.5% in the 3rd quarter. Harold Davidson & Associates Inc. now owns 19,350 shares of the information services provider’s stock valued at $4,704,000 after acquiring an additional 6,232 shares during the last quarter. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

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.