UBS Group Increases Alphabet (NASDAQ:GOOGL) Price Target to $255.00

Key Points

• UBS Group has raised its price target for Alphabet (GOOGL) from $237.00 to $255.00, maintaining a "neutral" rating on the stock, which suggests a potential upside of 5.05% from its previous close.
• Several analysts have provided updated ratings for Alphabet, with targets ranging from $210.00 to $294.00, leading to a consensus rating of "Moderate Buy" and an average target price of $245.88.
• In the latest quarter, Alphabet reported earnings per share of $2.31, surpassing expectations, and achieved a revenue of $96.43 billion, exceeding estimates by $2.83 billion.

Alphabet (NASDAQ:GOOGL - Get Free Report) had its target price increased by equities research analysts at UBS Group from $237.00 to $255.00 in a research report issued to clients and investors on Thursday,MarketScreener reports. The brokerage presently has a "neutral" rating on the information services provider's stock. UBS Group's price objective points to a potential upside of 5.05% from the stock's previous close.

GOOGL has been the subject of a number of other reports. BMO Capital Markets set a $294.00 price target on Alphabet and gave the company an "outperform" rating in a report on Thursday. Susquehanna boosted their price objective 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. Roth Capital upped their target price on shares of Alphabet from $205.00 to $210.00 and gave the company a "buy" rating in a report on Thursday, July 24th. Barclays increased their target price on shares of Alphabet from $235.00 to $250.00 and gave the company an "overweight" rating in a research report on Wednesday, September 3rd. Finally, Tigress Financial boosted their price target on shares of Alphabet from $240.00 to $280.00 and gave the company a "strong-buy" rating in a research report on Friday, September 5th. Five analysts have rated the stock with a Strong Buy rating, thirty-four have given a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat, Alphabet has a consensus rating of "Moderate Buy" and an average target price of $245.88.

Alphabet Trading Up 0.5%

NASDAQ GOOGL opened at $242.74 on Thursday. Alphabet has a 52 week low of $140.53 and a 52 week high of $256.00. The firm has a 50 day moving average of $225.37 and a two-hundred day moving average of $188.04. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. The stock has a market capitalization of $2.94 trillion, a PE ratio of 25.71, a price-to-earnings-growth ratio of 1.65 and a beta of 1.00.

Alphabet (NASDAQ:GOOGL - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, topping 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 company had revenue of $96.43 billion during the quarter, compared to the consensus estimate of $93.60 billion. As a group, research analysts expect that Alphabet will post 8.9 EPS for the current fiscal year.

Insider Buying and Selling at Alphabet

In other news, Director John L. Hennessy sold 600 shares of the firm's stock in a transaction on Monday, September 15th. The shares were sold at an average price of $249.44, for a total value of $149,664.00. Following the completion of the sale, the director owned 5,716 shares in the company, valued at approximately $1,425,799.04. This trade represents a 9.50% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Amie Thuener O'toole sold 953 shares of Alphabet stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $241.20, for a total transaction of $229,863.60. Following the completion of the sale, the chief accounting officer directly owned 17,294 shares in the company, valued at approximately $4,171,312.80. The trade was a 5.22% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 276,738 shares of company stock valued at $59,135,475. Corporate insiders own 11.64% of the company's stock.

Institutional Investors Weigh In On Alphabet

A number of institutional investors have recently added to or reduced their stakes in GOOGL. Guardian Wealth Management Inc. grew its holdings in shares of Alphabet by 242.9% in the 1st quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider's stock worth $26,000 after acquiring an additional 119 shares during the period. von Borstel & Associates Inc. purchased a new stake in Alphabet during the first quarter worth $28,000. IMA Advisory Services Inc. acquired a new stake in Alphabet in the first quarter valued at $28,000. NBZ Investment Advisors LLC grew its holdings in Alphabet by 85.7% in the first quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider's stock valued at $30,000 after purchasing an additional 90 shares during the last quarter. Finally, Financial Gravity Companies Inc. purchased a new position in shares of Alphabet in the second quarter valued at $31,000. Hedge funds and other 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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