Alphabet (NASDAQ:GOOGL - Free Report) had its price target hoisted by Canaccord Genuity Group from $180.00 to $190.00 in a report released on Wednesday, Benzinga reports. Canaccord Genuity Group currently has a buy rating on the information services provider's stock.
A number of other equities analysts have also recently issued reports on the stock. Roth Mkm decreased their price objective on shares of Alphabet from $166.00 to $164.00 and set a buy rating on the stock in a research report on Wednesday, January 31st. Mizuho boosted their price objective on shares of Alphabet from $155.00 to $170.00 and gave the company a buy rating in a report on Wednesday, January 17th. Susquehanna boosted their price objective on shares of Alphabet from $150.00 to $170.00 and gave the company a positive rating in a report on Wednesday, January 31st. BMO Capital Markets reaffirmed an outperform rating and set a $185.00 target price (up from $178.00) on shares of Alphabet in a report on Wednesday, April 10th. Finally, Citigroup reissued a buy rating and issued a $168.00 price objective on shares of Alphabet in a research note on Wednesday, April 10th. Five equities research analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of Moderate Buy and an average price target of $157.97.
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Alphabet Price Performance
NASDAQ:GOOGL traded up $0.54 during trading hours on Wednesday, hitting $156.01. The stock had a trading volume of 19,873,584 shares, compared to its average volume of 30,106,695. The company has a 50 day simple moving average of $146.16 and a two-hundred day simple moving average of $140.40. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.10 and a quick ratio of 2.10. Alphabet has a one year low of $102.63 and a one year high of $160.22. The firm has a market capitalization of $1.94 trillion, a price-to-earnings ratio of 26.90, a P/E/G ratio of 1.42 and a beta of 1.05.
Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its quarterly earnings data on Tuesday, January 30th. The information services provider reported $1.64 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.60 by $0.04. Alphabet had a net margin of 24.01% and a return on equity of 27.22%. The company had revenue of $86.31 billion during the quarter, compared to the consensus estimate of $70.77 billion. During the same period in the previous year, the firm posted $1.05 EPS. Research analysts forecast that Alphabet will post 6.78 earnings per share for the current fiscal year.
Insider Transactions at Alphabet
In other news, CEO Sundar Pichai sold 22,500 shares of the company's stock in a transaction on Wednesday, April 17th. The stock was sold at an average price of $157.41, for a total transaction of $3,541,725.00. Following the completion of the sale, the chief executive officer now directly owns 2,303,011 shares of the company's stock, valued at $362,516,961.51. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CAO Amie Thuener O'toole sold 660 shares of the company's stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $143.59, for a total transaction of $94,769.40. Following the completion of the sale, the chief accounting officer now directly owns 27,920 shares of the company's stock, valued at approximately $4,009,032.80. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Sundar Pichai sold 22,500 shares of the company's stock in a transaction that occurred on Wednesday, April 17th. The stock was sold at an average price of $157.41, for a total value of $3,541,725.00. Following the transaction, the chief executive officer now owns 2,303,011 shares of the company's stock, valued at $362,516,961.51. The disclosure for this sale can be found here. Over the last quarter, insiders sold 251,339 shares of company stock valued at $36,377,482. 0.88% of the stock is currently owned by corporate insiders.
Institutional Trading of Alphabet
Several hedge funds and other institutional investors have recently bought and sold shares of GOOGL. Live Oak Investment Partners acquired a new stake in shares of Alphabet during the 4th quarter worth approximately $26,000. Vermillion & White Wealth Management Group LLC acquired a new position in Alphabet during the fourth quarter valued at approximately $30,000. Tributary Capital Management LLC acquired a new position in Alphabet during the first quarter valued at approximately $30,000. Sanctuary Wealth Management L.L.C. bought a new position in Alphabet in the fourth quarter valued at approximately $34,000. Finally, Turim 21 Investimentos Ltda. bought a new position in Alphabet in the third quarter valued at approximately $38,000. 40.03% of the stock is currently owned by institutional investors and hedge funds.
About Alphabet
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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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