Alphabet's (GOOGL) "Neutral" Rating Reiterated at Cantor Fitzgerald

Key Points

• Cantor Fitzgerald has reiterated a neutral rating on Alphabet's stock, setting a price target of $201.00, indicating a potential downside of 20.13% from its last close.
• Alphabet reported earnings of $2.31 per share, exceeding analyst expectations, with quarterly revenue of $96.43 billion.
• The company's stock shows a mixed rating from analysts, with three categorizing it as a Strong Buy, while the overall consensus is a Moderate Buy with a target price of $231.31.

Alphabet (NASDAQ:GOOGL - Get Free Report)'s stock had its "neutral" rating reaffirmed by stock analysts at Cantor Fitzgerald in a report released on Wednesday,Benzinga reports. They presently have a $201.00 price objective on the information services provider's stock. Cantor Fitzgerald's price objective points to a potential downside of 20.13% from the stock's previous close.

GOOGL has been the subject of several other research reports. Citizens Jmp increased their price objective on shares of Alphabet from $250.00 to $290.00 and gave the company an "outperform" rating in a research note on Friday, September 19th. BNP Paribas cut Alphabet from a "strong-buy" rating to a "hold" rating in a research note on Thursday, June 26th. Westpark Capital boosted their target price on shares of Alphabet from $210.00 to $220.00 and gave the company a "buy" rating in a report on Thursday, July 24th. Guggenheim upped their price target on shares of Alphabet from $190.00 to $210.00 and gave the company a "buy" rating in a research report on Wednesday, July 23rd. Finally, Roth Capital lifted their price objective on Alphabet from $205.00 to $210.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. Three analysts have rated the stock with a Strong Buy rating, thirty-two have issued a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $231.31.

Alphabet Stock Performance

Shares of Alphabet stock opened at $251.66 on Wednesday. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. The company has a market cap of $3.04 trillion, a PE ratio of 26.80, a price-to-earnings-growth ratio of 1.70 and a beta of 1.01. The company has a 50 day moving average of $212.18 and a 200-day moving average of $181.45. Alphabet has a 1-year low of $140.53 and a 1-year high of $256.00.

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

Insider Activity at Alphabet

In other news, CAO Amie Thuener O'toole sold 2,778 shares of the firm's stock in a transaction on Monday, September 15th. The stock was sold at an average price of $245.00, for a total transaction of $680,610.00. Following the completion of the sale, the chief accounting officer directly owned 17,293 shares of the company's stock, valued at $4,236,785. This trade represents a 13.84% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider John Kent Walker sold 23,820 shares of Alphabet 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 in the company, valued at $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. Insiders sold a total of 258,088 shares of company stock valued at $52,405,304 in the last ninety days. Insiders own 11.55% of the company's stock.

Hedge Funds Weigh In On Alphabet

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Guardian Wealth Management Inc. raised its holdings in 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 period. von Borstel & Associates Inc. bought a new stake in shares of Alphabet during the 1st quarter valued at $28,000. IMA Advisory Services Inc. purchased a new stake in Alphabet during the 1st quarter worth about $28,000. NBZ Investment Advisors LLC boosted its stake in Alphabet by 85.7% in 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. Finally, Financial Gravity Companies Inc. purchased a new position in Alphabet during the 2nd quarter valued at about $31,000. Institutional investors 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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