Alphabet Inc. (NASDAQ:GOOGL - Get Free Report) was up 0.5% during mid-day trading on Thursday after Canaccord Genuity Group raised their price target on the stock from $180.00 to $190.00. Canaccord Genuity Group currently has a buy rating on the stock. Alphabet traded as high as $156.41 and last traded at $156.31. Approximately 4,959,656 shares traded hands during mid-day trading, a decline of 83% from the average daily volume of 29,900,307 shares. The stock had previously closed at $155.47.
A number of other equities analysts also recently weighed in on the stock. Wells Fargo & Company cut their price target on shares of Alphabet from $144.00 to $141.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 3rd. JMP Securities reissued a "market outperform" rating and issued a $160.00 price target on shares of Alphabet in a report on Wednesday, April 10th. KeyCorp boosted their price target on shares of Alphabet from $153.00 to $165.00 and gave the stock an "overweight" rating in a report on Monday, January 29th. Roth Mkm cut their price target on shares of Alphabet from $166.00 to $164.00 and set a "buy" rating on the stock in a report on Wednesday, January 31st. Finally, UBS Group boosted their price target on shares of Alphabet from $150.00 to $166.00 and gave the stock a "neutral" rating in a report on Tuesday. Five 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 company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $157.97.
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Insider Buying and Selling at Alphabet
In other news, Director Frances Arnold sold 230 shares of the stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $154.06, for a total transaction of $35,433.80. Following the completion of the sale, the director now owns 15,104 shares of the company's stock, valued at $2,326,922.24. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, Director Frances Arnold sold 230 shares of the firm's stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $154.06, for a total value of $35,433.80. Following the completion of the sale, the director now owns 15,104 shares of the company's stock, valued at $2,326,922.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John L. Hennessy sold 800 shares of the firm's stock in a transaction on Friday, April 12th. The shares were sold at an average price of $159.56, for a total value of $127,648.00. Following the transaction, the director now directly owns 7,991 shares of the company's stock, valued at approximately $1,275,043.96. The disclosure for this sale can be found here. Insiders have sold 251,339 shares of company stock worth $36,377,482 over the last ninety days. Insiders own 0.88% of the company's stock.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently bought and sold shares of GOOGL. Live Oak Investment Partners bought a new position in shares of Alphabet during the 4th quarter worth $26,000. Vermillion & White Wealth Management Group LLC bought a new stake in Alphabet during the fourth quarter valued at about $30,000. Tributary Capital Management LLC acquired a new stake in Alphabet in the first quarter worth about $30,000. Sanctuary Wealth Management L.L.C. acquired a new stake in Alphabet in the fourth quarter worth about $34,000. Finally, Turim 21 Investimentos Ltda. acquired a new stake in Alphabet in the third quarter worth about $38,000. 40.03% of the stock is owned by hedge funds and other institutional investors.
Alphabet Stock Performance
The company has a debt-to-equity ratio of 0.05, a current ratio of 2.10 and a quick ratio of 2.10. The firm has a market cap 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. The firm has a fifty day simple moving average of $146.16 and a two-hundred day simple moving average of $140.40.
Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its quarterly earnings results on Tuesday, January 30th. The information services provider reported $1.64 earnings per share for the quarter, topping the consensus estimate of $1.60 by $0.04. Alphabet had a return on equity of 27.22% and a net margin of 24.01%. The business had revenue of $86.31 billion during the quarter, compared to the consensus estimate of $70.77 billion. During the same quarter last year, the company earned $1.05 earnings per share. On average, analysts expect that Alphabet Inc. will post 6.78 EPS for the current year.
Alphabet Company Profile
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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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