Alphabet (NASDAQ:GOOGL) Price Target Increased to $200.00 by Analysts at Argus

Alphabet (NASDAQ:GOOGL) had its price target increased by investment analysts at Argus from $170.00 to $200.00 in a note issued to investors on Tuesday, Benzinga reports. The brokerage currently has a “buy” rating on the information services provider’s stock. Argus’ price target would indicate a potential upside of 22.06% from the company’s current price.

Several other brokerages also recently issued reports on GOOGL. Raymond James upped their price objective on Alphabet from $160.00 to $200.00 and gave the company an “outperform” rating in a research report on Friday, April 26th. Citigroup upped their price objective on Alphabet from $168.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, April 26th. Needham & Company LLC upped their price objective on Alphabet from $160.00 to $210.00 and gave the company a “buy” rating in a research report on Friday, April 26th. Robert W. Baird increased their target price on Alphabet from $160.00 to $200.00 and gave the stock an “outperform” rating in a research report on Friday, April 26th. Finally, Royal Bank of Canada increased their target price on Alphabet from $155.00 to $200.00 and gave the stock an “outperform” rating in a research report on Friday, April 26th. Five investment analysts have rated the stock with a hold rating, thirty have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $190.60.

Alphabet Stock Up 0.7 %

GOOGL opened at $163.86 on Tuesday. The business’s fifty day moving average is $149.22 and its two-hundred day moving average is $141.95. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.10 and a current ratio of 2.15. The company has a market cap of $2.04 trillion, a price-to-earnings ratio of 25.13, a PEG ratio of 1.29 and a beta of 1.05. Alphabet has a one year low of $103.71 and a one year high of $174.71.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Thursday, April 25th. The information services provider reported $1.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.49 by $0.40. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. The business had revenue of $80.54 billion for the quarter, compared to the consensus estimate of $66.04 billion. During the same period in the prior year, the business earned $1.17 earnings per share. Analysts anticipate that Alphabet will post 7.49 EPS for the current fiscal year.

Insider Activity

In other news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $166.80, for a total value of $3,753,000.00. Following the completion of the sale, the chief executive officer now owns 2,280,511 shares in the company, valued at $380,389,234.80. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $166.80, for a total value of $3,753,000.00. Following the transaction, the chief executive officer now directly owns 2,280,511 shares of the company’s stock, valued at approximately $380,389,234.80. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Ruth Porat sold 48,077 shares of the stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $137.22, for a total value of $6,597,125.94. Following the transaction, the chief financial officer now owns 1,777,106 shares of the company’s stock, valued at $243,854,485.32. The disclosure for this sale can be found here. Over the last quarter, insiders sold 275,129 shares of company stock worth $40,382,765. 0.88% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Alphabet

Several hedge funds and other institutional investors have recently modified their holdings of GOOGL. Vanguard Group Inc. raised its stake in Alphabet by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 493,810,251 shares of the information services provider’s stock valued at $68,980,354,000 after buying an additional 6,374,756 shares in the last quarter. FMR LLC raised its stake in Alphabet by 5.6% during the third quarter. FMR LLC now owns 227,317,469 shares of the information services provider’s stock valued at $29,746,764,000 after buying an additional 12,070,681 shares in the last quarter. Norges Bank acquired a new stake in Alphabet during the fourth quarter valued at approximately $15,441,917,000. Northern Trust Corp raised its stake 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 valued at $8,857,154,000 after buying an additional 2,416,328 shares in the last quarter. Finally, Fisher Asset Management LLC raised its stake 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 valued at $6,316,902,000 after buying an additional 1,472,043 shares in the last quarter. Institutional investors 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.