Alphabet (NASDAQ:GOOGL) Price Target Raised to $225.00

Alphabet (NASDAQ:GOOGL) had its price target raised by Truist Financial from $220.00 to $225.00 in a research note published on Wednesday, Benzinga reports. Truist Financial currently has a buy rating on the information services provider’s stock.

A number of other research analysts have also weighed in on the company. Scotiabank raised Alphabet to a “strong-buy” rating in a report on Friday, October 11th. Guggenheim lifted their target price on Alphabet from $195.00 to $205.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Roth Mkm reaffirmed a “buy” rating and set a $206.00 target price on shares of Alphabet in a report on Thursday, August 29th. Argus lifted their target price on Alphabet from $200.00 to $215.00 and gave the company a “buy” rating in a report on Tuesday, July 16th. Finally, Wolfe Research initiated coverage on Alphabet in a research report on Tuesday, July 16th. They set an “outperform” rating and a $240.00 price target for the company. Seven research analysts have rated the stock with a hold rating, thirty have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Alphabet currently has an average rating of “Moderate Buy” and a consensus price target of $205.51.

Alphabet Trading Up 2.8 %

Shares of GOOGL opened at $174.46 on Wednesday. The business has a 50-day moving average of $162.17 and a 200 day moving average of $168.78. Alphabet has a fifty-two week low of $122.68 and a fifty-two week high of $191.75. The firm has a market cap of $2.16 trillion, a P/E ratio of 26.76, a price-to-earnings-growth ratio of 1.27 and a beta of 1.04. 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 (NASDAQ:GOOGL) last announced its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, topping the consensus estimate of $1.83 by $0.29. The company had revenue of $88.27 billion during the quarter, compared to analyst estimates of $72.85 billion. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. During the same quarter last year, the firm posted $1.55 EPS. As a group, research analysts forecast that Alphabet will post 7.65 EPS for the current year.

Insider Activity

In other news, CAO Amie Thuener O’toole sold 1,367 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $168.84, for a total transaction of $230,804.28. Following the transaction, the chief accounting officer now directly owns 29,183 shares of the company’s stock, valued at approximately $4,927,257.72. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider John Kent Walker sold 21,467 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $160.35, for a total transaction of $3,442,233.45. Following the transaction, the insider now directly owns 39,334 shares of the company’s stock, valued at approximately $6,307,206.90. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Amie Thuener O’toole sold 1,367 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $168.84, for a total value of $230,804.28. Following the transaction, the chief accounting officer now directly owns 29,183 shares in the company, valued at $4,927,257.72. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 220,426 shares of company stock valued at $35,993,340. Company insiders own 11.55% of the company’s stock.

Institutional Investors Weigh In On Alphabet

Several hedge funds and other institutional investors have recently added to or reduced their stakes in GOOGL. MorganRosel Wealth Management LLC lifted its holdings in Alphabet by 3.6% in the second quarter. MorganRosel Wealth Management LLC now owns 1,620 shares of the information services provider’s stock valued at $295,000 after acquiring an additional 57 shares during the period. Hengehold Capital Management LLC lifted its holdings in Alphabet by 0.8% in the second quarter. Hengehold Capital Management LLC now owns 7,224 shares of the information services provider’s stock valued at $1,316,000 after acquiring an additional 60 shares during the period. Christopher J. Hasenberg Inc lifted its holdings in Alphabet by 75.0% in the second quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock valued at $26,000 after acquiring an additional 60 shares during the period. First PREMIER Bank lifted its holdings in Alphabet by 3.8% in the third quarter. First PREMIER Bank now owns 1,655 shares of the information services provider’s stock valued at $275,000 after acquiring an additional 61 shares during the period. Finally, MKT Advisors LLC lifted its holdings in Alphabet by 0.8% in the third quarter. MKT Advisors LLC now owns 7,363 shares of the information services provider’s stock valued at $1,221,000 after acquiring an additional 62 shares during the period. 40.03% of the stock is 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.