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 Trading Up 0.3 %

GOOGL Stock opened at $122.08 on Tuesday. The company's 50-day simple moving average is $155.82 and its 200-day simple moving average is $137.57. The company has a quick ratio of 2.78, a current ratio of 2.81 and a debt-to-equity ratio of 0.06. Alphabet has a 52-week low of $101.88 and a 52-week high of $151.55. The firm has a market cap of $1.61 trillion, a P/E ratio of 22.71, a PEG ratio of 1.97 and a beta of 1.08.

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

Wall Street Analyst Weigh In

A number of research firms recently commented on GOOGL. UBS Group cut their price objective on Alphabet from $133.00 to $132.00 and set a "buy" rating on the stock in a research note on Wednesday, July 27th. StockNews.com downgraded Alphabet from a "buy" rating to a "hold" rating in a report on Friday, April 29th. Piper Sandler lowered their target price on Alphabet from $139.00 to $135.00 and set an "overweight" rating for the company in a report on Wednesday, July 27th. Canaccord Genuity Group lowered their target price on Alphabet from $175.00 to $165.00 and set a "buy" rating for the company in a report on Wednesday, April 27th. Finally, Exane BNP Paribas downgraded Alphabet from an "outperform" rating to a "neutral" rating in a report on Wednesday, July 20th. Five investment analysts have rated the stock with a hold rating, thirty-four have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Alphabet currently has an average rating of "Moderate Buy" and a consensus price target of $147.36.

Insider Activity at Alphabet

In other Alphabet news, major shareholder 2021 Gp L.L.C. Gv acquired 13,528 shares of the company's stock in a transaction on Tuesday, May 24th. The shares were bought at an average cost of $33.72 per share, for a total transaction of $456,164.16. Following the completion of the purchase, the insider now owns 593,402 shares in the company, valued at approximately $20,009,515.44. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, major shareholder 2021 Gp L.L.C. Gv bought 13,528 shares of the stock in a transaction on Tuesday, May 24th. The shares were bought 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 owns 593,402 shares of the company's stock, valued at approximately $20,009,515.44. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Prabhakar Raghavan sold 1,109 shares of the company's stock in a transaction dated Friday, July 1st. The shares were sold at an average price of $2,166.74, for a total transaction of $2,402,914.66. Following the completion of the sale, the senior vice president now directly owns 1,608 shares in the company, valued at approximately $3,484,117.92. The disclosure for this sale can be found here. Insiders sold a total of 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.