Alphabet (NASDAQ:GOOGL) PT Lowered to $200.00 at Evercore ISI

Alphabet (NASDAQ:GOOGL) had its price objective dropped by Evercore ISI from $225.00 to $200.00 in a note issued to investors on Monday, Benzinga reports. The firm currently has an “outperform” rating on the information services provider’s stock. Evercore ISI’s price target would indicate a potential upside of 27.02% from the stock’s previous close.

Other equities research analysts have also issued research reports about the stock. Wedbush reissued an “outperform” rating and set a $205.00 price objective on shares of Alphabet in a report on Thursday, September 5th. UBS Group increased their price objective on shares of Alphabet from $200.00 to $204.00 and gave the stock a “neutral” rating in a report on Wednesday, July 24th. Mizuho increased their price objective on shares of Alphabet from $205.00 to $210.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. Jefferies Financial Group upped their target price on shares of Alphabet from $215.00 to $220.00 in a research report on Tuesday, July 9th. Finally, Morgan Stanley cut their target price on shares of Alphabet from $205.00 to $190.00 and set an “overweight” rating on the stock in a research report on Tuesday, September 3rd. Eight investment 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.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $201.08.

Alphabet Stock Up 1.8 %

GOOGL opened at $157.46 on Monday. The firm’s 50-day simple moving average is $167.46 and its 200-day simple moving average is $164.87. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 2.08. Alphabet has a twelve month low of $120.21 and a twelve month high of $191.75. The firm has a market cap of $1.94 trillion, a price-to-earnings ratio of 24.15, a PEG ratio of 1.13 and a beta of 1.04.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.85 by $0.04. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The business had revenue of $84.74 billion for the quarter, compared to analyst estimates of $70.60 billion. During the same quarter in the prior year, the firm earned $1.44 EPS. Equities research analysts anticipate that Alphabet will post 7.64 EPS for the current fiscal year.

Insider Buying and Selling

In other Alphabet news, CAO Amie Thuener O’toole sold 2,835 shares of the company’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $151.53, for a total value of $429,587.55. Following the transaction, the chief accounting officer now directly owns 29,182 shares in the company, valued at $4,421,948.46. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CAO Amie Thuener O’toole sold 2,835 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $151.53, for a total value of $429,587.55. Following the transaction, the chief accounting officer now owns 29,182 shares of the company’s stock, valued at $4,421,948.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Prabhakar Raghavan sold 3,262 shares of the business’s stock in a transaction 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 completion of the sale, the senior vice president now owns 9 shares of the company’s stock, valued at $1,655.91. The disclosure for this sale can be found here. Over the last three months, insiders have sold 179,367 shares of company stock worth $30,016,931. Insiders own 11.55% of the company’s stock.

Institutional Trading of Alphabet

Hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its holdings in shares of Alphabet by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 497,874,324 shares of the information services provider’s stock worth $75,144,172,000 after purchasing an additional 4,064,073 shares in the last quarter. Norges Bank acquired a new stake in shares of Alphabet during the 4th quarter worth $15,441,917,000. Capital Research Global Investors grew its holdings in shares of Alphabet by 14.4% during the 1st quarter. Capital Research Global Investors now owns 57,803,291 shares of the information services provider’s stock worth $8,724,251,000 after purchasing an additional 7,275,757 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Alphabet by 0.5% during 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 purchasing an additional 238,403 shares in the last quarter. Finally, Fisher Asset Management LLC grew its holdings in shares of Alphabet by 3.3% during the 4th quarter. Fisher Asset Management LLC now owns 45,178,075 shares of the information services provider’s stock worth $6,310,925,000 after purchasing an additional 1,429,261 shares in the last quarter. Institutional investors and hedge funds own 40.03% 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.