Alphabet (NASDAQ:GOOGL) Given New $220.00 Price Target at Westpark Capital

Alphabet (NASDAQ:GOOGL - Get Free Report) had its price target upped by Westpark Capital from $210.00 to $220.00 in a report released on Thursday,Benzinga reports. The firm currently has a "buy" rating on the information services provider's stock. Westpark Capital's price objective would suggest a potential upside of 13.88% from the stock's current price.

Other research analysts have also recently issued research reports about the company. Truist Financial reissued a "buy" rating and issued a $200.00 price objective on shares of Alphabet in a research note on Wednesday, July 2nd. Royal Bank Of Canada restated an "outperform" rating and set a $200.00 target price on shares of Alphabet in a report on Wednesday, April 23rd. Piper Sandler upped their target price on Alphabet from $185.00 to $195.00 and gave the stock an "overweight" rating in a report on Friday, April 25th. JMP Securities upgraded Alphabet from a "market perform" rating to a "market outperform" rating and set a $220.00 target price for the company in a report on Friday, June 27th. Finally, Cantor Fitzgerald upped their target price on Alphabet from $171.00 to $196.00 and gave the stock a "neutral" rating in a report on Wednesday, July 16th. Ten research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $211.32.

Alphabet Trading Up 0.5%

NASDAQ:GOOGL traded up $1.01 during midday trading on Thursday, hitting $193.18. The stock had a trading volume of 39,738,342 shares, compared to its average volume of 41,427,228. Alphabet has a one year low of $140.53 and a one year high of $207.05. The company has a market capitalization of $2.34 trillion, a price-to-earnings ratio of 20.57, a PEG ratio of 1.33 and a beta of 1.00. The stock has a 50-day moving average of $175.77 and a 200 day moving average of $172.93. The company has a quick ratio of 1.77, a current ratio of 1.90 and a debt-to-equity ratio of 0.07.

Alphabet (NASDAQ:GOOGL - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.02 by $0.79. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. The company had revenue of $76.49 billion for the quarter, compared to analysts' expectations of $89.30 billion. During the same quarter in the prior year, the firm earned $1.89 earnings per share. As a group, sell-side analysts forecast that Alphabet will post 8.9 EPS for the current year.

Insider Buying and Selling

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the firm's stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $178.52, for a total value of $5,801,900.00. Following the transaction, the chief executive officer directly owned 2,559,892 shares of the company's stock, valued at $456,991,919.84. This trade represents a 1.25% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Kavitark Ram Shriram sold 18,566 shares of the firm's stock in a transaction that occurred on Friday, July 18th. The stock was sold at an average price of $185.76, for a total transaction of $3,448,820.16. Following the completion of the transaction, the director directly owned 243,400 shares in the company, valued at $45,213,984. This trade represents a 7.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 249,409 shares of company stock worth $43,523,710 over the last three months. Corporate insiders own 11.64% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of GOOGL. Vanguard Group Inc. raised its position in shares of Alphabet by 2.9% during the 1st quarter. Vanguard Group Inc. now owns 509,826,331 shares of the information services provider's stock valued at $78,839,544,000 after buying an additional 14,307,345 shares during the period. FMR LLC raised its position in shares of Alphabet by 9.8% during the 4th quarter. FMR LLC now owns 248,416,916 shares of the information services provider's stock valued at $47,025,322,000 after buying an additional 22,100,902 shares during the period. Norges Bank purchased a new stake in shares of Alphabet during the 4th quarter valued at approximately $24,383,677,000. Price T Rowe Associates Inc. MD raised its position in shares of Alphabet by 8.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 98,638,127 shares of the information services provider's stock valued at $18,672,198,000 after buying an additional 7,574,417 shares during the period. Finally, Capital Research Global Investors raised its position in Alphabet by 16.2% in the fourth quarter. Capital Research Global Investors now owns 72,033,086 shares of the information services provider's stock valued at $13,635,878,000 after purchasing an additional 10,037,685 shares during the period. 40.03% of the stock is 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.