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Alphabet (NASDAQ:GOOGL – Get Free Report) had its target price lifted by DA Davidson from $180.00 to $190.00 in a research note issued on Tuesday,Benzinga reports. The firm currently has a “neutral” rating on the information services provider’s stock. DA Davidson’s target price points to a potential downside of 17.63% from the company’s current price.
Several other equities analysts also recently commented on GOOGL. Sanford C. Bernstein upped their price objective on Alphabet from $185.00 to $195.00 and gave the company a “market perform” rating in a research report on Tuesday, July 22nd. Westpark Capital upped their target price on Alphabet from $210.00 to $220.00 and gave the stock a “buy” rating in a report on Thursday, July 24th. Roth Capital upped their target price on Alphabet from $205.00 to $210.00 and gave the stock a “buy” rating in a report on Thursday, July 24th. Wells Fargo & Company upped their target price on Alphabet from $184.00 to $187.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 29th. Finally, Bank of America upped their target price on Alphabet from $210.00 to $217.00 and gave the stock a “buy” rating in a report on Thursday, July 24th. Four research analysts have rated the stock with a Strong Buy rating, thirty have issued a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $219.11.
View Our Latest Stock Analysis on GOOGL
Alphabet Stock Performance
Shares of Alphabet stock opened at $230.66 on Tuesday. The stock’s fifty day moving average is $193.49 and its two-hundred day moving average is $174.80. The company has a market capitalization of $2.79 trillion, a PE ratio of 24.56, a price-to-earnings-growth ratio of 1.43 and a beta of 1.01. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. Alphabet has a 52 week low of $140.53 and a 52 week high of $231.31.
Alphabet (NASDAQ:GOOGL – Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, beating the consensus estimate of $2.15 by $0.16. The company had revenue of $96.43 billion for the quarter, compared to the consensus estimate of $93.60 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. As a group, analysts expect that Alphabet will post 8.9 earnings per share for the current year.
Insider Buying and Selling
In related news, Director Kavitark Ram Shriram sold 15,000 shares of the company’s stock in a transaction on Friday, July 18th. The stock was sold at an average price of $185.76, for a total transaction of $2,786,400.00. Following the completion of the sale, the director directly owned 240,400 shares in the company, valued at $44,656,704. This represents a 5.87% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director John L. Hennessy sold 600 shares of the company’s stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $203.79, for a total value of $122,274.00. Following the sale, the director owned 6,316 shares of the company’s stock, valued at $1,287,137.64. This trade represents a 8.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 222,210 shares of company stock valued at $41,742,155. Company insiders own 11.55% of the company’s stock.
Institutional Investors Weigh In On Alphabet
A number of hedge funds have recently made changes to their positions in the stock. American Trust lifted its stake in shares of Alphabet by 18.2% during the 2nd quarter. American Trust now owns 24,751 shares of the information services provider’s stock worth $4,362,000 after purchasing an additional 3,810 shares during the last quarter. Evolution Wealth Management Inc. purchased a new stake in Alphabet in the second quarter valued at about $135,000. Lavaca Capital LLC raised its stake in Alphabet by 6.2% in the second quarter. Lavaca Capital LLC now owns 6,860 shares of the information services provider’s stock valued at $1,209,000 after buying an additional 400 shares during the last quarter. Midwestern Financial LLC IA purchased a new stake in Alphabet in the second quarter valued at about $217,000. Finally, Tribridge Partners Financial LLC purchased a new stake in Alphabet in the second quarter valued at about $266,000. 40.03% of the stock is currently owned by hedge funds and other institutional investors.
About Alphabet
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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