Alphabet's (GOOGL) "Neutral" Rating Reaffirmed at Rosenblatt Securities

Alphabet (NASDAQ:GOOGL - Get Free Report)'s stock had its "neutral" rating reaffirmed by equities researchers at Rosenblatt Securities in a research report issued on Wednesday,Benzinga reports. They currently have a $189.00 target price on the information services provider's stock. Rosenblatt Securities' price target indicates a potential upside of 12.80% from the stock's previous close.

Several other brokerages also recently weighed in on GOOGL. Westpark Capital reiterated a "buy" rating and issued a $210.00 price target on shares of Alphabet in a report on Thursday, May 8th. Royal Bank of Canada reiterated an "outperform" rating and set a $200.00 price objective on shares of Alphabet in a report on Wednesday, April 23rd. Citigroup raised their target price on shares of Alphabet from $195.00 to $200.00 and gave the stock a "buy" rating in a research report on Friday, April 25th. Wedbush set a $190.00 price objective on shares of Alphabet and gave the company an "outperform" rating in a research note on Tuesday, April 15th. Finally, Jefferies Financial Group dropped their price target on Alphabet from $235.00 to $200.00 and set a "buy" rating on the stock in a research note on Monday, March 31st. Ten analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and four have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $199.75.

Alphabet Price Performance

Shares of Alphabet stock opened at $167.55 on Wednesday. Alphabet has a 52 week low of $140.53 and a 52 week high of $207.05. The company has a market cap of $2.03 trillion, a PE ratio of 20.88, a P/E/G ratio of 1.34 and a beta of 1.01. The business has a 50 day moving average of $158.23 and a 200 day moving average of $174.93. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03.

Alphabet (NASDAQ:GOOGL - Get Free Report) last announced its earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, beating analysts' consensus estimates of $2.02 by $0.79. The business had revenue of $76.49 billion during the quarter, compared to analyst estimates of $89.30 billion. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. During the same period in the previous year, the business earned $1.89 EPS. As a group, equities research analysts forecast that Alphabet will post 8.9 earnings per share for the current year.

Insider Activity

In related news, insider Ruth Porat sold 17,690 shares of the business's stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $183.48, for a total transaction of $3,245,761.20. Following the transaction, the insider now owns 1,449,286 shares in the company, valued at $265,914,995.28. The trade was a 1.21% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Amie Thuener O'toole sold 1,374 shares of the business's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $173.47, for a total value of $238,347.78. Following the completion of the sale, the chief accounting officer now directly owns 15,024 shares in the company, valued at approximately $2,606,213.28. This represents a 8.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 129,744 shares of company stock valued at $20,968,366 over the last three months. Corporate insiders own 11.64% of the company's stock.

Hedge Funds Weigh In On Alphabet

Several large investors have recently made changes to their positions in the business. Acorns Advisers LLC lifted its stake in shares of Alphabet by 20.3% in the 1st quarter. Acorns Advisers LLC now owns 4,826 shares of the information services provider's stock valued at $746,000 after purchasing an additional 814 shares during the last quarter. Belpointe Asset Management LLC boosted its stake in Alphabet by 12.4% during the first quarter. Belpointe Asset Management LLC now owns 73,460 shares of the information services provider's stock worth $11,360,000 after buying an additional 8,103 shares during the period. Focus Partners Wealth increased its position in Alphabet by 11.0% during the first quarter. Focus Partners Wealth now owns 2,126,417 shares of the information services provider's stock valued at $328,799,000 after acquiring an additional 211,213 shares during the last quarter. Capital Impact Advisors LLC purchased a new stake in Alphabet during the first quarter worth $17,468,000. Finally, Flaharty Asset Management LLC bought a new position in shares of Alphabet in the 1st quarter worth $113,000. 40.03% of the stock is currently 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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