Guggenheim Increases Alphabet (NASDAQ:GOOGL) Price Target to $205.00

Alphabet (NASDAQ:GOOGL) had its target price hoisted by research analysts at Guggenheim from $195.00 to $205.00 in a research report issued on Wednesday, MarketBeat Ratings reports. The firm presently has a “buy” rating on the information services provider’s stock. Guggenheim’s price objective would suggest a potential upside of 22.55% from the company’s current price.

Other equities analysts have also issued research reports about the company. Mizuho dropped their price objective on Alphabet from $290.00 to $205.00 in a research note on Thursday, July 18th. Robert W. Baird lifted their price objective on shares of Alphabet from $160.00 to $200.00 and gave the company an “outperform” rating in a research report on Friday, April 26th. Roth Mkm upped their target price on shares of Alphabet from $164.00 to $202.00 and gave the stock a “buy” rating in a research report on Friday, April 26th. TD Securities lifted their price target on shares of Alphabet from $200.00 to $220.00 in a report on Wednesday, July 10th. Finally, Needham & Company LLC reissued a “buy” rating and set a $210.00 price objective on shares of Alphabet in a report on Tuesday. Six equities research analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $203.74.

Alphabet Price Performance

NASDAQ GOOGL opened at $167.28 on Wednesday. The stock has a market cap of $2.07 trillion, a price-to-earnings ratio of 25.66, a PEG ratio of 1.36 and a beta of 1.05. Alphabet has a 12 month low of $120.21 and a 12 month high of $191.75. The company’s 50 day moving average is $179.22 and its two-hundred day moving average is $160.15. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.05.

Alphabet (NASDAQ:GOOGL) last announced 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 for the quarter, compared to the consensus estimate of $70.60 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.96%. During the same period last year, the firm earned $1.44 EPS. As a group, research analysts anticipate that Alphabet will post 7.62 earnings per share for the current year.

Insiders Place Their Bets

In related news, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $166.67, for a total value of $113,668.94. Following the completion of the sale, the chief accounting officer now owns 29,284 shares in the company, valued at $4,880,764.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Alphabet news, Director John L. Hennessy sold 1,500 shares of the stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $185.85, for a total transaction of $278,775.00. Following the transaction, the director now directly owns 30,824 shares in the company, valued at approximately $5,728,640.40. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $166.67, for a total transaction of $113,668.94. Following the completion of the sale, the chief accounting officer now owns 29,284 shares of the company’s stock, valued at approximately $4,880,764.28. The disclosure for this sale can be found here. Insiders have sold 122,388 shares of company stock worth $21,497,609 in the last three months. Corporate insiders own 11.55% of the company’s stock.

Hedge Funds Weigh In On Alphabet

Several institutional investors have recently bought and sold shares of GOOGL. Alpha Omega Wealth Management LLC lifted its stake in shares of Alphabet by 0.5% during the 2nd quarter. Alpha Omega Wealth Management LLC now owns 19,932 shares of the information services provider’s stock worth $3,631,000 after purchasing an additional 109 shares during the last quarter. Pegasus Asset Management Inc. lifted its position in shares of Alphabet by 50.9% during the second quarter. Pegasus Asset Management Inc. now owns 5,095 shares of the information services provider’s stock valued at $928,000 after buying an additional 1,719 shares during the last quarter. Rational Advisors LLC boosted its holdings in shares of Alphabet by 81.5% in the 2nd quarter. Rational Advisors LLC now owns 37,200 shares of the information services provider’s stock valued at $6,776,000 after buying an additional 16,707 shares in the last quarter. Verdence Capital Advisors LLC grew its position in shares of Alphabet by 5.6% in the 2nd quarter. Verdence Capital Advisors LLC now owns 69,390 shares of the information services provider’s stock worth $12,639,000 after buying an additional 3,652 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its position in shares of Alphabet by 0.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 49,472,478 shares of the information services provider’s stock worth $9,011,412,000 after buying an additional 238,403 shares during 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.