Robert W. Baird Raises Alphabet (NASDAQ:GOOGL) Price Target to $275.00

Key Points

• Robert W. Baird has raised its price target for Alphabet (NASDAQ:GOOGL) from $215.00 to $275.00, indicating a potential upside of 8.07% from the previous close.
• Other analysts have also adjusted their targets, with Wedbush setting it at $245.00 and KeyCorp at $265.00, reflecting positive sentiment with an average rating of Moderate Buy.
• Insider actions include significant sales by CEO Sundar Pichai and Director John L. Hennessy, with insiders having sold over $52 million worth of shares in the last ninety days.

Alphabet (NASDAQ:GOOGL - Get Free Report) had its target price increased by equities research analysts at Robert W. Baird from $215.00 to $275.00 in a research report issued to clients and investors on Monday,MarketScreener reports. The firm presently has an "outperform" rating on the information services provider's stock. Robert W. Baird's price objective suggests a potential upside of 8.07% from the stock's previous close.

Other analysts also recently issued research reports about the company. Wedbush lifted their target price on Alphabet from $225.00 to $245.00 and gave the company an "outperform" rating in a research note on Wednesday, September 3rd. Westpark Capital increased their target price on shares of Alphabet from $210.00 to $220.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. KeyCorp lifted their target price on Alphabet from $230.00 to $265.00 and gave the company an "overweight" rating in a research report on Wednesday, September 3rd. Wall Street Zen lowered shares of Alphabet from a "buy" rating to a "hold" rating in a research note on Sunday. Finally, Susquehanna lifted their target price on shares of Alphabet from $220.00 to $225.00 and gave the stock a "positive" rating in a research report on Thursday, July 24th. Three equities research 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 company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $231.31.

Alphabet Price Performance

Shares of GOOGL stock opened at $254.46 on Monday. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. The stock's 50-day moving average is $209.36 and its 200 day moving average is $180.41. Alphabet has a 1-year low of $140.53 and a 1-year high of $256.00. The company has a market cap of $3.08 trillion, a P/E ratio of 27.10, a PEG ratio of 1.72 and a beta of 1.01.

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

Insider Buying and Selling at Alphabet

In related news, Director John L. Hennessy sold 600 shares of the stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $249.44, for a total transaction of $149,664.00. Following the completion of the transaction, the director directly owned 5,716 shares of the company's stock, valued at approximately $1,425,799.04. This represents a 9.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Sundar Pichai sold 32,500 shares of the company's stock in a transaction that occurred on Wednesday, September 17th. The shares were sold at an average price of $249.50, for a total value of $8,108,750.00. Following the completion of the sale, the chief executive officer owned 2,397,392 shares in the company, valued at approximately $598,149,304. This represents a 1.34% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 258,088 shares of company stock valued at $52,405,304 in the last ninety days. 11.55% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Alphabet

A number of institutional investors have recently made changes to their positions in the business. Guardian Wealth Management Inc. grew its holdings in Alphabet by 242.9% during the first quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider's stock valued at $26,000 after purchasing an additional 119 shares during the last quarter. von Borstel & Associates Inc. purchased a new stake in Alphabet during the first quarter valued at about $28,000. IMA Advisory Services Inc. bought a new position in shares of Alphabet during the 1st quarter valued at $28,000. NBZ Investment Advisors LLC boosted its position in shares of 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 in the last quarter. Finally, Financial Gravity Companies Inc. purchased a new position in shares of Alphabet in the second quarter worth $31,000. 40.03% of the stock is owned by institutional investors and hedge funds.

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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