Alphabet (NASDAQ:GOOGL) Price Target Raised to $191.00 at Rosenblatt Securities

Alphabet (NASDAQ:GOOGL - Get Free Report) had its price target increased by investment analysts at Rosenblatt Securities from $189.00 to $191.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has a "neutral" rating on the information services provider's stock. Rosenblatt Securities' price objective would suggest a potential downside of 0.61% from the company's previous close.

A number of other equities analysts have also recently issued reports on the company. Wedbush set a $190.00 target price on Alphabet and gave the stock an "outperform" rating in a report on Tuesday, April 15th. Citizens Jmp raised Alphabet from a "market perform" rating to an "outperform" rating and set a $220.00 price target for the company in a research report on Friday, June 27th. Westpark Capital reissued a "buy" rating and issued a $210.00 price target on shares of Alphabet in a research report on Thursday, May 8th. Guggenheim increased their price target on Alphabet from $190.00 to $210.00 and gave the company a "buy" rating in a research report on Wednesday. Finally, Oppenheimer increased their price target on Alphabet from $185.00 to $200.00 and gave the company an "outperform" rating in a research report on Friday, April 25th. Ten analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have given a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $211.32.

Alphabet Trading Up 1.0%

Shares of Alphabet stock traded up $1.94 on Thursday, reaching $192.17. 74,740,490 shares of the company's stock were exchanged, compared to its average volume of 39,272,972. Alphabet has a 52 week low of $140.53 and a 52 week high of $207.05. The firm's 50-day moving average is $175.23 and its two-hundred day moving average is $173.10. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.77 and a current ratio of 1.77. The company has a market capitalization of $2.33 trillion, a P/E ratio of 20.47, a price-to-earnings-growth ratio of 1.33 and a beta of 1.00.

Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.02 by $0.79. Alphabet had a return on equity of 35.22% and a net margin of 31.12%. The company had revenue of $76.49 billion for the quarter, compared to analysts' expectations of $89.30 billion. During the same period last year, the business earned $1.89 EPS. Sell-side analysts predict that Alphabet will post 8.9 EPS for the current fiscal year.

Insider Activity

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the firm's stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $178.52, for a total value of $5,801,900.00. Following the completion of the transaction, the chief executive officer owned 2,559,892 shares in the company, valued at $456,991,919.84. This trade represents a 1.25% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kavitark Ram Shriram sold 18,566 shares of Alphabet stock in a transaction dated 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 sale, the director owned 243,400 shares of the company's stock, 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. In the last 90 days, insiders sold 249,409 shares of company stock valued at $43,523,710. 11.64% of the stock is owned by corporate insiders.

Institutional Trading of Alphabet

Large investors have recently modified their holdings of the business. Guardian Wealth Management Inc. boosted its position in shares of Alphabet by 242.9% during the 1st quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider's stock valued at $26,000 after acquiring an additional 119 shares during the last quarter. IMA Advisory Services Inc. purchased a new position in Alphabet in the 1st quarter worth approximately $28,000. von Borstel & Associates Inc. purchased a new position in Alphabet in the 1st quarter worth approximately $28,000. NBZ Investment Advisors LLC increased its stake in shares of Alphabet by 85.7% during the first quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider's stock valued at $30,000 after buying an additional 90 shares during the period. Finally, CarsonAllaria Wealth Management Ltd. increased its stake in shares of Alphabet by 36.4% during the second quarter. CarsonAllaria Wealth Management Ltd. now owns 251 shares of the information services provider's stock valued at $44,000 after buying an additional 67 shares during the period. Institutional investors own 40.03% of the company's stock.

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.