Alphabet (NASDAQ:GOOGL) Price Target Raised to $295.00

Key Points

• Moffett Nathanson has raised Alphabet's price target from $230.00 to $295.00, indicating a potential upside of 19.37% from the stock's previous close.
• The consensus rating for Alphabet is a "Moderate Buy", with thirty-three analysts giving it a Buy rating and three rating it as a Strong Buy.
• Alphabet reported earnings of $2.31 per share for the last quarter, exceeding analysts' estimates and generating revenue of $96.43 billion.

Alphabet (NASDAQ:GOOGL - Get Free Report) had its price objective raised by Moffett Nathanson from $230.00 to $295.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has a "buy" rating on the information services provider's stock. Moffett Nathanson's target price points to a potential upside of 19.37% from the stock's previous close.

GOOGL has been the subject of a number of other reports. DA Davidson increased their price objective on shares of Alphabet from $180.00 to $190.00 and gave the stock a "neutral" rating in a research note on Tuesday, September 2nd. Sanford C. Bernstein raised their target price on shares of Alphabet from $185.00 to $195.00 and gave the company a "market perform" rating in a research note on Tuesday, July 22nd. Wall Street Zen downgraded shares of Alphabet from a "buy" rating to a "hold" rating in a research note on Sunday. Tigress Financial raised their target price 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. Finally, Deutsche Bank Aktiengesellschaft reiterated a "buy" rating on shares of Alphabet in a research note on Wednesday, September 3rd. Three analysts have rated the stock with a Strong Buy rating, thirty-three have issued a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat, Alphabet presently has an average rating of "Moderate Buy" and a consensus price target of $232.90.

Alphabet Price Performance

GOOGL opened at $247.14 on Thursday. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. Alphabet has a 12 month low of $140.53 and a 12 month high of $256.00. The company has a fifty day simple moving average of $213.46 and a 200 day simple moving average of $181.91. The stock has a market cap of $2.99 trillion, a P/E ratio of 26.32, a P/E/G ratio of 1.70 and a beta of 1.01.

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

Insider Buying and Selling at Alphabet

In other news, 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 transaction of $3,448,820.16. Following the transaction, the director directly owned 243,400 shares of the company's stock, valued at approximately $45,213,984. This trade represents a 7.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the firm's stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $229.73, for a total transaction of $7,466,225.00. Following the transaction, the chief executive officer directly owned 2,429,892 shares in the company, valued at $558,219,089.16. This represents a 1.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 258,088 shares of company stock valued at $52,405,304 over the last ninety days. Company insiders own 11.64% of the company's stock.

Institutional Trading of Alphabet

Large investors have recently made changes to their positions in the company. Mystic Asset Management Inc. boosted its position in shares of Alphabet by 6.7% during the 1st quarter. Mystic Asset Management Inc. now owns 28,454 shares of the information services provider's stock worth $4,400,000 after acquiring an additional 1,791 shares in the last quarter. Harbour Trust & Investment Management Co boosted its position in shares of Alphabet by 0.3% during the 1st quarter. Harbour Trust & Investment Management Co now owns 27,075 shares of the information services provider's stock worth $4,187,000 after acquiring an additional 80 shares in the last quarter. Cypress Capital LLC boosted its position in shares of Alphabet by 4.1% during the 1st quarter. Cypress Capital LLC now owns 14,310 shares of the information services provider's stock worth $2,213,000 after acquiring an additional 563 shares in the last quarter. Bridgeway Capital Management LLC boosted its position in shares of Alphabet by 17.9% during the 1st quarter. Bridgeway Capital Management LLC now owns 88,187 shares of the information services provider's stock worth $13,637,000 after acquiring an additional 13,371 shares in the last quarter. Finally, Alaethes Wealth LLC boosted its position in Alphabet by 1.1% in the first quarter. Alaethes Wealth LLC now owns 7,646 shares of the information services provider's stock valued at $1,182,000 after buying an additional 84 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company's stock.

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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