Alphabet (NASDAQ:GOOGL) Given New $175.00 Price Target at Wells Fargo & Company

Alphabet (NASDAQ:GOOGL - Get Free Report) had its price objective raised by equities researchers at Wells Fargo & Company from $167.00 to $175.00 in a research note issued on Friday, Marketbeat.com reports. The firm currently has an "equal weight" rating on the information services provider's stock. Wells Fargo & Company's price target would suggest a potential upside of 9.13% from the company's current price.

Other analysts have also recently issued research reports about the stock. Roth Mkm reissued a "buy" rating and issued a $220.00 price objective on shares of Alphabet in a research note on Wednesday, March 19th. Needham & Company LLC restated a "buy" rating and set a $178.00 price objective on shares of Alphabet in a research report on Wednesday, April 16th. Royal Bank of Canada reiterated an "outperform" rating and issued a $200.00 target price on shares of Alphabet in a report on Wednesday, April 23rd. UBS Group set a $190.00 price target on shares of Alphabet in a report on Thursday, March 27th. Finally, Mizuho lowered their target price on shares of Alphabet from $230.00 to $205.00 and set an "outperform" rating for the company in a research note on Wednesday, April 9th. Ten research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and five have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $198.89.

Alphabet Price Performance

Shares of GOOGL stock traded down $0.25 on Friday, hitting $160.36. 17,819,430 shares of the company's stock were exchanged, compared to its average volume of 28,257,097. The company has a 50 day moving average of $161.69 and a 200 day moving average of $175.60. The stock has a market cap of $1.95 trillion, a P/E ratio of 19.93, a price-to-earnings-growth ratio of 1.34 and a beta of 1.03. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84. Alphabet has a 12 month low of $140.53 and a 12 month high of $207.05.

Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, beating analysts' consensus estimates of $2.02 by $0.79. The company had revenue of $76.49 billion for the quarter, compared to the consensus estimate of $89.30 billion. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. During the same period last year, the company posted $1.89 EPS. On average, equities research analysts predict that Alphabet will post 8.9 EPS for the current year.

Insider Transactions at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the business's stock in a transaction on Wednesday, April 16th. The stock was sold at an average price of $156.16, for a total value of $5,075,200.00. Following the sale, the chief executive officer now directly owns 2,685,196 shares in the company, valued at $419,320,207.36. The trade was a 1.20 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director John L. Hennessy sold 200 shares of the stock in a transaction on Monday, April 14th. The stock was sold at an average price of $161.90, for a total value of $32,380.00. Following the transaction, the director now owns 7,613 shares of the company's stock, valued at $1,232,544.70. The trade was a 2.56 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 148,163 shares of company stock worth $25,361,647 in the last ninety days. Company insiders own 11.55% of the company's stock.

Institutional Trading of Alphabet

A number of institutional investors have recently modified their holdings of GOOGL. Principal Financial Group Inc. grew its holdings in Alphabet by 3.1% during the 3rd quarter. Principal Financial Group Inc. now owns 11,283,594 shares of the information services provider's stock valued at $1,871,384,000 after buying an additional 337,031 shares in the last quarter. Passumpsic Savings Bank boosted its holdings in Alphabet by 38.0% in the 3rd quarter. Passumpsic Savings Bank now owns 4,700 shares of the information services provider's stock valued at $779,000 after purchasing an additional 1,294 shares during the period. SOA Wealth Advisors LLC. grew its position in Alphabet by 0.5% during the third quarter. SOA Wealth Advisors LLC. now owns 37,379 shares of the information services provider's stock worth $6,199,000 after buying an additional 202 shares in the last quarter. SkyView Investment Advisors LLC grew its holdings in shares of Alphabet by 6.0% during the third quarter. SkyView Investment Advisors LLC now owns 2,306 shares of the information services provider's stock worth $382,000 after purchasing an additional 130 shares in the last quarter. Finally, Te Ahumairangi Investment Management Ltd raised its stake in Alphabet by 19.2% in the third quarter. Te Ahumairangi Investment Management Ltd now owns 137,669 shares of the information services provider's stock valued at $22,703,000 after purchasing an additional 22,169 shares in the last quarter. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

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.