Alphabet (NASDAQ:GOOGL) PT Raised to $190.00 at Wells Fargo & Company

Alphabet (NASDAQ:GOOGL) had its price target raised by research analysts at Wells Fargo & Company from $187.00 to $190.00 in a research report issued on Wednesday, MarketBeat Ratings reports. The firm currently has an “equal weight” rating on the information services provider’s stock. Wells Fargo & Company‘s price target points to a potential upside of 13.58% from the stock’s current price.

GOOGL has been the subject of a number of other reports. Wedbush reissued an “outperform” rating and set a $205.00 target price on shares of Alphabet in a research note on Monday. KeyCorp increased their target price on Alphabet from $165.00 to $175.00 and gave the stock an “overweight” rating in a research note on Monday, April 22nd. Citigroup increased their target price on Alphabet from $168.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday, April 26th. Morgan Stanley increased their target price on Alphabet from $195.00 to $210.00 and gave the stock an “overweight” rating in a research note on Tuesday. Finally, Tigress Financial increased their target price on Alphabet from $176.00 to $210.00 and gave the stock a “strong-buy” rating in a research note on Friday, May 24th. Six analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $203.74.

Alphabet Stock Down 3.1 %

Shares of NASDAQ GOOGL opened at $167.28 on Wednesday. The stock has a market cap of $2.07 trillion, a PE ratio of 25.66, a price-to-earnings-growth 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 52-week low of $120.21 and a 52-week high of $191.75. The business has a 50-day moving average price of $179.22 and a 200 day moving average price of $160.15.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, beating the consensus estimate of $1.85 by $0.04. The firm had revenue of $84.74 billion during the quarter, compared to the consensus estimate of $70.60 billion. Alphabet had a return on equity of 30.96% and a net margin of 26.70%. During the same period in the prior year, the business earned $1.44 EPS. Equities research analysts forecast that Alphabet will post 7.62 earnings per share for the current year.

Insider Buying and Selling at Alphabet

In other news, SVP Prabhakar Raghavan sold 3,262 shares of Alphabet stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $183.99, for a total transaction 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 sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, SVP Prabhakar Raghavan sold 3,262 shares of Alphabet stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $183.99, for a total transaction 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 sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $166.67, for a total value of $113,668.94. Following the sale, the chief accounting officer now directly owns 29,284 shares in the company, valued at $4,880,764.28. The disclosure for this sale can be found here. Insiders have sold 122,388 shares of company stock valued at $21,497,609 over the last three months. 11.55% of the stock is owned by company insiders.

Institutional Trading of Alphabet

Hedge funds and other institutional investors have recently modified their holdings of the business. Bristlecone Advisors LLC grew its stake in Alphabet by 0.7% in the second quarter. Bristlecone Advisors LLC now owns 116,465 shares of the information services provider’s stock worth $21,214,000 after purchasing an additional 860 shares in the last quarter. TFG Advisers LLC grew its stake in Alphabet by 2.9% in the second quarter. TFG Advisers LLC now owns 22,829 shares of the information services provider’s stock worth $4,158,000 after purchasing an additional 634 shares in the last quarter. Townsend Asset Management Corp NC ADV grew its stake in Alphabet by 0.9% in the second quarter. Townsend Asset Management Corp NC ADV now owns 27,118 shares of the information services provider’s stock worth $4,940,000 after purchasing an additional 235 shares in the last quarter. Proficio Capital Partners LLC grew its stake in Alphabet by 2.2% in the second quarter. Proficio Capital Partners LLC now owns 38,065 shares of the information services provider’s stock worth $6,934,000 after purchasing an additional 809 shares in the last quarter. Finally, Christopher J. Hasenberg Inc grew its stake in Alphabet by 75.0% in the second quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock worth $26,000 after purchasing an additional 60 shares in the last quarter. 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.