Alphabet (NASDAQ:GOOGL - Get Free Report) had its price objective lifted by equities researchers at Jefferies Financial Group from $230.00 to $285.00 in a report released on Thursday,MarketScreener reports. The brokerage currently has a "buy" rating on the information services provider's stock. Jefferies Financial Group's target price would suggest a potential upside of 16.37% from the company's previous close.
Other analysts have also recently issued reports about the company. Melius Research upped their target price on Alphabet from $220.00 to $255.00 in a report on Thursday, September 25th. Bank of America lifted their price objective on shares of Alphabet from $210.00 to $217.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. JMP Securities boosted their price objective on shares of Alphabet from $250.00 to $290.00 and gave the company a "market outperform" rating in a research note on Friday, September 19th. Phillip Securities lowered shares of Alphabet from a "strong-buy" rating to a "moderate buy" rating in a research report on Monday, September 8th. Finally, Robert W. Baird raised their target price on shares of Alphabet from $215.00 to $275.00 and gave the company an "outperform" rating in a report on Monday, September 22nd. Four equities research analysts have rated the stock with a Strong Buy rating, thirty-two have assigned a Buy rating and ten have issued a Hold rating to the company's stock. Based on data from MarketBeat, Alphabet has an average rating of "Moderate Buy" and a consensus price target of $240.76.
Check Out Our Latest Analysis on Alphabet
Alphabet Stock Performance
Shares of Alphabet stock opened at $244.92 on Thursday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. The company has a market capitalization of $2.96 trillion, a PE ratio of 26.05, a P/E/G ratio of 1.64 and a beta of 1.00. Alphabet has a one year low of $140.53 and a one year high of $256.00. The company has a 50-day simple moving average of $219.14 and a two-hundred day simple moving average of $184.66.
Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its earnings results 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. The company had revenue of $96.43 billion during the quarter, compared to the consensus estimate of $93.60 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. Research analysts expect that Alphabet will post 8.9 EPS for the current fiscal year.
Insiders Place Their Bets
In other Alphabet news, Director Kavitark Ram Shriram sold 18,566 shares of the company's stock in a transaction on Friday, July 18th. The stock was sold at an average price of $185.76, for a total value of $3,448,820.16. Following the transaction, the director owned 243,400 shares of the company's stock, valued at approximately $45,213,984. This represents a 7.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider John Kent Walker sold 23,820 shares of the stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the completion of 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 position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 243,285 shares of company stock valued at $50,994,787. Corporate insiders own 11.64% of the company's stock.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently bought and sold shares of the company. Norges Bank bought a new stake in shares of Alphabet in the 2nd quarter worth approximately $21,944,208,000. Nuveen LLC bought a new position in shares of Alphabet during the 1st quarter worth about $4,317,606,000. Laurel Wealth Advisors LLC boosted its position in shares of Alphabet by 17,667.7% during the 2nd quarter. Laurel Wealth Advisors LLC now owns 15,245,075 shares of the information services provider's stock valued at $2,686,640,000 after acquiring an additional 15,159,273 shares in the last quarter. Vanguard Group Inc. raised its position in Alphabet by 2.9% in the first quarter. Vanguard Group Inc. now owns 509,826,331 shares of the information services provider's stock worth $78,839,544,000 after purchasing an additional 14,307,345 shares in the last quarter. Finally, Franklin Resources Inc. lifted its stake in Alphabet by 51.7% during the second quarter. Franklin Resources Inc. now owns 31,817,684 shares of the information services provider's stock worth $5,607,232,000 after purchasing an additional 10,843,853 shares during the period. Hedge funds and other institutional investors own 40.03% of the company's stock.
Alphabet Company Profile
(
Get Free Report)
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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