Alphabet (NASDAQ:GOOGL) Price Target Raised to $175.00

Alphabet (NASDAQ:GOOGL) had its price target increased by KeyCorp from $165.00 to $175.00 in a research report report published on Monday, Benzinga reports. KeyCorp currently has an overweight rating on the information services provider’s stock.

Several other equities research analysts have also recently issued reports on the company. Roth Mkm lowered their price objective on Alphabet from $166.00 to $164.00 and set a buy rating on the stock in a report on Wednesday, January 31st. Redburn Atlantic boosted their target price on Alphabet from $150.00 to $165.00 and gave the stock a buy rating in a report on Wednesday, January 31st. Canaccord Genuity Group boosted their target price on Alphabet from $180.00 to $190.00 and gave the stock a buy rating in a report on Wednesday, April 17th. JMP Securities restated a market outperform rating and set a $160.00 target price on shares of Alphabet in a report on Wednesday, April 10th. Finally, Rosenblatt Securities lowered their target price on Alphabet from $174.00 to $172.00 and set a buy rating on the stock in a report on Wednesday, January 31st. Five research analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus price target of $158.71.

Alphabet Stock Performance

NASDAQ GOOGL opened at $159.13 on Monday. The stock has a 50-day simple moving average of $146.96 and a two-hundred day simple moving average of $141.06. The firm has a market capitalization of $1.98 trillion, a P/E ratio of 27.44, a PEG ratio of 1.44 and a beta of 1.05. Alphabet has a fifty-two week low of $102.63 and a fifty-two week high of $160.22. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.10 and a current ratio of 2.10.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Tuesday, January 30th. The information services provider reported $1.64 earnings per share for the quarter, beating analysts’ consensus estimates of $1.60 by $0.04. The business had revenue of $86.31 billion during the quarter, compared to analyst estimates of $70.77 billion. Alphabet had a return on equity of 27.22% and a net margin of 24.01%. During the same quarter last year, the business posted $1.05 EPS. On average, equities analysts forecast that Alphabet will post 6.78 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $132.70, for a total transaction of $2,985,750.00. Following the completion of the transaction, the chief executive officer now owns 2,332,691 shares in the company, valued at $309,548,095.70. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Alphabet news, Director John L. Hennessy sold 800 shares of the company’s stock in a transaction on Friday, April 12th. The shares were sold at an average price of $159.56, for a total value of $127,648.00. Following the completion of the transaction, the director now owns 7,991 shares in the company, valued at $1,275,043.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $132.70, for a total transaction of $2,985,750.00. Following the completion of the transaction, the chief executive officer now owns 2,332,691 shares of the company’s stock, valued at approximately $309,548,095.70. The disclosure for this sale can be found here. Over the last quarter, insiders sold 251,339 shares of company stock worth $36,377,482. Corporate insiders own 0.88% of the company’s stock.

Institutional Investors Weigh In On Alphabet

Several hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. boosted its stake in shares of Alphabet by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 493,810,251 shares of the information services provider’s stock worth $68,980,354,000 after buying an additional 6,374,756 shares during the period. FMR LLC raised its holdings in Alphabet by 5.6% during the third quarter. FMR LLC now owns 227,317,469 shares of the information services provider’s stock worth $29,746,764,000 after purchasing an additional 12,070,681 shares in the last quarter. Norges Bank purchased a new position in Alphabet during the fourth quarter worth about $15,441,917,000. Northern Trust Corp raised its holdings in Alphabet by 3.7% during the third quarter. Northern Trust Corp now owns 67,684,197 shares of the information services provider’s stock worth $8,857,154,000 after purchasing an additional 2,416,328 shares in the last quarter. Finally, Fisher Asset Management LLC raised its holdings in Alphabet by 3.4% during the fourth quarter. Fisher Asset Management LLC now owns 45,220,857 shares of the information services provider’s stock worth $6,316,902,000 after purchasing an additional 1,472,043 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

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.