Alphabet (NASDAQ:GOOGL) Given New $260.00 Price Target at Sanford C. Bernstein

Key Points

• Sanford C. Bernstein has raised its price target for Alphabet (GOOGL) from $210.00 to $260.00, indicating a potential upside of 2.14% from the current stock price.
• The company has a consensus rating of "Moderate Buy" with 34 analysts issuing Buy ratings and 10 assigning Hold ratings.
• Alphabet reported a quarterly EPS of $2.31, surpassing expectations, and had a revenue of $96.43 billion, exceeding analyst estimates by $2.83 billion.

Alphabet (NASDAQ:GOOGL - Get Free Report) had its price objective upped by analysts at Sanford C. Bernstein from $210.00 to $260.00 in a research report issued to clients and investors on Wednesday,MarketScreener reports. The brokerage currently has a "market perform" rating on the information services provider's stock. Sanford C. Bernstein's price objective indicates a potential upside of 2.14% from the company's current price.

GOOGL has been the topic of several other research reports. Deutsche Bank Aktiengesellschaft reissued a "buy" rating on shares of Alphabet in a research note on Wednesday, September 3rd. Robert W. Baird boosted their price target on Alphabet from $215.00 to $275.00 and gave the stock an "outperform" rating in a research note on Monday, September 22nd. Moffett Nathanson lifted their price objective on Alphabet from $230.00 to $295.00 and gave the stock a "buy" rating in a research report on Thursday, September 25th. Weiss Ratings restated a "buy (b)" rating on shares of Alphabet in a research report on Wednesday, October 8th. Finally, Jefferies Financial Group lifted their price objective on Alphabet from $230.00 to $285.00 and gave the stock a "buy" rating in a research report on Thursday, October 2nd. Four analysts have rated the stock with a Strong Buy rating, thirty-four have issued a Buy rating and ten have assigned a Hold rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $259.12.

Alphabet Stock Performance

GOOGL traded up $4.09 during trading on Wednesday, reaching $254.55. The company's stock had a trading volume of 4,152,147 shares, compared to its average volume of 35,785,004. The company's fifty day moving average price is $233.60 and its 200-day moving average price is $193.31. The company has a market capitalization of $3.08 trillion, a price-to-earnings ratio of 27.08, a price-to-earnings-growth ratio of 1.74 and a beta of 1.00. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. Alphabet has a 52-week low of $140.53 and a 52-week high of $257.33.

Alphabet (NASDAQ:GOOGL - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, topping the consensus estimate of $2.15 by $0.16. The business had revenue of $96.43 billion for the quarter, compared to analyst estimates of $93.60 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. On average, equities analysts forecast that Alphabet will post 8.9 earnings per share for the current fiscal year.

Insider Buying and Selling at Alphabet

In other Alphabet news, CAO Amie Thuener O'toole sold 2,778 shares of the business's stock in a transaction 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 completion of the transaction, the chief accounting officer directly owned 17,293 shares in the company, valued at approximately $4,236,785. The trade was a 13.84% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider John Kent Walker sold 23,820 shares of the company's stock in a transaction on Monday, August 4th. The stock was sold at an average price of $194.70, for a total value of $4,637,754.00. Following the sale, the insider owned 42,999 shares of the company's stock, valued at approximately $8,371,905.30. The trade was a 35.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 246,150 shares of company stock worth $55,805,379. Insiders own 11.55% of the company's stock.

Institutional Trading of Alphabet

Institutional investors have recently added to or reduced their stakes in the business. Guardian Wealth Management Inc. boosted its position 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 purchasing an additional 119 shares during the period. Financial Gravity Companies Inc. purchased a new stake in Alphabet during the 2nd quarter worth $31,000. IMA Advisory Services Inc. purchased a new stake in Alphabet during the 1st quarter worth $28,000. von Borstel & Associates Inc. purchased a new stake in Alphabet during the 1st quarter worth $28,000. Finally, NBZ Investment Advisors LLC boosted its position in Alphabet by 85.7% during the 1st quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider's stock worth $30,000 after purchasing an additional 90 shares during the period. 40.03% of the stock is owned by hedge funds and other institutional investors.

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.

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