Alphabet (NASDAQ:GOOG) PT Raised to $210.00

Alphabet (NASDAQ:GOOG) had its price target raised by research analysts at Oppenheimer from $205.00 to $210.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage presently has an “outperform” rating on the information services provider’s stock. Oppenheimer’s price objective points to a potential upside of 24.14% from the stock’s current price.

Other equities research analysts have also issued research reports about the company. Rosenblatt Securities lowered Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 target price on the stock. in a research note on Friday, June 28th. TD Cowen upped their price objective on Alphabet from $200.00 to $220.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. Morgan Stanley reiterated an “overweight” rating and set a $165.00 price objective on shares of Alphabet in a research report on Thursday, April 11th. Stifel Nicolaus upped their target price on shares of Alphabet from $154.00 to $174.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. Finally, Wolfe Research upgraded shares of Alphabet to a “strong-buy” rating in a report on Tuesday, July 16th. One research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Alphabet presently has a consensus rating of “Buy” and a consensus price target of $177.50.

Alphabet Trading Down 3.0 %

Shares of GOOG stock opened at $169.16 on Wednesday. The stock has a market cap of $2.09 trillion, a P/E ratio of 25.94, a P/E/G ratio of 1.36 and a beta of 1.05. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.05. Alphabet has a fifty-two week low of $121.46 and a fifty-two week high of $193.31. The business has a fifty day simple moving average of $180.74 and a 200-day simple moving average of $161.58.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, beating analysts’ consensus estimates of $1.85 by $0.04. The firm had revenue of $84.74 billion for the quarter, compared to analysts’ expectations of $84.22 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.96%. The firm’s revenue was up 13.6% on a year-over-year basis. During the same period in the prior year, the company earned $1.44 EPS. On average, analysts forecast that Alphabet will post 7.62 earnings per share for the current fiscal year.

Insider Activity

In related news, SVP Prabhakar Raghavan sold 3,262 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $183.99, for a total value of $600,175.38. Following the sale, the senior vice president now directly owns 9 shares of the company’s stock, valued at $1,655.91. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, SVP Prabhakar Raghavan sold 3,262 shares of the company’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $183.99, for a total transaction of $600,175.38. Following the completion of the sale, the senior vice president now directly owns 9 shares in the company, valued at approximately $1,655.91. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction on Wednesday, July 17th. The shares were sold at an average price of $182.84, for a total value of $4,113,900.00. Following the completion of the transaction, the chief executive officer now owns 2,204,885 shares in the company, valued at approximately $403,141,173.40. The disclosure for this sale can be found here. Insiders sold a total of 144,888 shares of company stock valued at $25,699,259 in the last 90 days. 12.99% of the stock is currently owned by insiders.

Institutional Trading of Alphabet

Institutional investors and hedge funds have recently bought and sold shares of the business. Partnership Wealth Management LLC purchased a new stake in Alphabet during the fourth quarter worth approximately $26,000. Equitec Proprietary Markets LLC acquired a new position in shares of Alphabet during the 4th quarter valued at $28,000. DiNuzzo Private Wealth Inc. purchased a new stake in Alphabet during the 4th quarter worth $32,000. Pacific Capital Wealth Advisors Inc. acquired a new stake in Alphabet in the 4th quarter valued at $34,000. Finally, Richardson Financial Services Inc. purchased a new position in Alphabet in the fourth quarter valued at about $34,000. Institutional investors and hedge funds own 27.26% of the company’s stock.

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.