Alphabet - GOOGL Stock Forecast, Price & News

Alphabet Inc. provides 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 offers products and services, including ads, Android, Chrome, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube. It is also involved in the sale of apps and in-app purchases and digital content in the Google Play store; and Fitbit wearable devices, Google Nest home products, Pixel phones, and other devices, as well as in the provision of YouTube non-advertising services. The Google Cloud segment offers infrastructure, platform, and other services; Google Workspace that include cloud-based collaboration tools for enterprises, such as Gmail, Docs, Drive, Calendar, and Meet; and other services for enterprise customers. The Other Bets segment sells health technology and internet services. The company was founded in 1998 and is headquartered in Mountain View, California.

Alphabet Stock Down 1.8 %

GOOGL Stock opened at $119.55 on Thursday. Alphabet has a twelve month low of $101.88 and a twelve month high of $151.55. The company has a quick ratio of 2.78, a current ratio of 2.81 and a debt-to-equity ratio of 0.06. The firm has a market cap of $1.57 trillion, a PE ratio of 22.24, a price-to-earnings-growth ratio of 1.97 and a beta of 1.08. The business has a 50 day moving average of $155.95 and a 200 day moving average of $137.34.

Alphabet (NASDAQ:GOOGL - Get Rating) last posted its quarterly earnings data on Tuesday, July 26th. The information services provider reported $1.21 earnings per share for the quarter, missing analysts' consensus estimates of $1.32 by ($0.11). Alphabet had a net margin of 25.89% and a return on equity of 28.65%. During the same period in the prior year, the business posted $27.26 EPS. On average, research analysts forecast that Alphabet will post 5.22 EPS for the current fiscal year.

Wall Street Analyst Weigh In

GOOGL has been the subject of several recent research reports. Piper Sandler reduced their price target on Alphabet from $139.00 to $135.00 and set an "overweight" rating for the company in a research report on Wednesday, July 27th. StockNews.com lowered Alphabet from a "buy" rating to a "hold" rating in a research note on Friday, April 29th. BMO Capital Markets dropped their price objective on Alphabet from $165.00 to $150.00 and set an "outperform" rating for the company in a research note on Wednesday, April 27th. Itau BBA Securities began coverage on Alphabet in a research note on Tuesday, July 26th. They set a "market perform" rating and a $113.00 price objective for the company. Finally, Jefferies Financial Group dropped their price objective on Alphabet from $155.00 to $130.00 and set a "buy" rating for the company in a research note on Wednesday, July 27th. Five investment analysts have rated the stock with a hold rating, thirty-four have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $147.36.

Insider Activity at Alphabet

In related news, insider John Kent Walker sold 34,799 shares of the stock in a transaction on Thursday, August 4th. The stock was sold at an average price of $118.25, for a total transaction of $4,114,981.75. Following the sale, the insider now directly owns 18,484 shares of the company's stock, valued at $2,185,733. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Alphabet news, insider John Kent Walker sold 34,799 shares of the firm's stock in a transaction dated Thursday, August 4th. The stock was sold at an average price of $118.25, for a total value of $4,114,981.75. Following the transaction, the insider now directly owns 18,484 shares of the company's stock, valued at $2,185,733. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder 2021 Gp L.L.C. Gv bought 13,528 shares of the company's stock in a transaction on Tuesday, May 24th. The stock was purchased at an average cost of $33.72 per share, for a total transaction of $456,164.16. Following the completion of the transaction, the insider now directly owns 593,402 shares of the company's stock, valued at approximately $20,009,515.44. The disclosure for this purchase can be found here. Insiders have sold 42,852 shares of company stock valued at $15,750,955 over the last ninety days. Insiders own 11.44% of the company's stock.