Alphabet (NASDAQ:GOOGL) Given New $210.00 Price Target at Guggenheim

Alphabet (NASDAQ:GOOGL - Get Free Report) had its target price hoisted by equities research analysts at Guggenheim from $190.00 to $210.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has a "buy" rating on the information services provider's stock. Guggenheim's target price suggests a potential upside of 9.75% from the company's current price.

Other analysts have also issued research reports about the company. Royal Bank Of Canada restated an "outperform" rating and set a $200.00 price target on shares of Alphabet in a report on Wednesday, April 23rd. Citigroup reissued a "buy" rating and issued a $203.00 target price (up previously from $200.00) on shares of Alphabet in a research note on Tuesday, June 24th. Jefferies Financial Group reduced their target price on shares of Alphabet from $235.00 to $200.00 and set a "buy" rating on the stock in a research note on Monday, March 31st. Tigress Financial raised their price objective on shares of Alphabet from $220.00 to $240.00 and gave the stock a "strong-buy" rating in a research note on Wednesday, April 30th. Finally, Stifel Nicolaus raised their price objective on shares of Alphabet from $200.00 to $218.00 and gave the stock a "buy" rating in a research note on Tuesday. Ten investment analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $203.32.

Alphabet Stock Up 0.7%

GOOGL opened at $191.34 on Wednesday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.77 and a current ratio of 1.77. Alphabet has a fifty-two week low of $140.53 and a fifty-two week high of $207.05. The firm's fifty day moving average is $172.90 and its 200 day moving average is $172.89. The stock has a market cap of $2.32 trillion, a price-to-earnings ratio of 21.33, a price-to-earnings-growth ratio of 1.33 and a beta of 1.00.

Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, topping analysts' consensus estimates of $2.02 by $0.79. Alphabet had a return on equity of 34.54% and a net margin of 30.86%. The company had revenue of $76.49 billion for the quarter, compared to analysts' expectations of $89.30 billion. During the same period in the previous year, the firm earned $1.89 EPS. On average, sell-side analysts forecast that Alphabet will post 8.9 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Sundar Pichai sold 32,500 shares of the firm's stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $178.52, for a total value of $5,801,900.00. Following the transaction, the chief executive officer directly owned 2,559,892 shares of the company's stock, valued at approximately $456,991,919.84. This trade represents a 1.25% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Kavitark Ram Shriram sold 18,566 shares of the firm's stock in a transaction that occurred on Friday, July 18th. The shares were sold at an average price of $185.76, for a total value of $3,448,820.16. Following the completion of the transaction, the director owned 243,400 shares in the company, valued at approximately $45,213,984. This trade represents a 7.09% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 249,409 shares of company stock worth $43,523,710 in the last quarter. 11.55% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of GOOGL. Guardian Wealth Management Inc. raised its position in Alphabet by 242.9% in the first quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider's stock valued at $26,000 after purchasing an additional 119 shares during the period. IMA Advisory Services Inc. purchased a new stake in Alphabet in the 1st quarter valued at about $28,000. von Borstel & Associates Inc. purchased a new stake in shares of Alphabet in the 1st quarter valued at approximately $28,000. NBZ Investment Advisors LLC raised its stake in shares of Alphabet by 85.7% in the 1st 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 during the period. Finally, Financial Gravity Asset Management Inc. purchased a new stake in shares of Alphabet in the 1st quarter valued at approximately $39,000. 40.03% of the stock is 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.

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