DA Davidson Increases Alphabet (NASDAQ:GOOGL) Price Target to $200.00

Alphabet (NASDAQ:GOOGL) had its target price raised by research analysts at DA Davidson from $190.00 to $200.00 in a report released on Friday,Benzinga reports. The brokerage presently has a “neutral” rating on the information services provider’s stock. DA Davidson’s price target points to a potential downside of 0.10% from the company’s previous close.

Other equities analysts have also recently issued reports about the stock. KeyCorp lifted their price target on shares of Alphabet from $215.00 to $225.00 and gave the stock an “overweight” rating in a research report on Friday, January 10th. Phillip Securities upgraded Alphabet to a “strong-buy” rating in a report on Friday, November 1st. Evercore ISI raised their price target on Alphabet from $200.00 to $205.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Stifel Nicolaus boosted their price objective on Alphabet from $200.00 to $225.00 and gave the company a “buy” rating in a research report on Monday, January 13th. Finally, China Renaissance upgraded shares of Alphabet from a “hold” rating to a “buy” rating in a report on Thursday, October 31st. Nine investment analysts have rated the stock with a hold rating, thirty have assigned a buy rating and four have assigned a strong buy rating to the company. According to data from MarketBeat, Alphabet currently has a consensus rating of “Moderate Buy” and a consensus target price of $209.44.

Alphabet Trading Up 1.1 %

Shares of GOOGL opened at $200.21 on Friday. The stock’s fifty day simple moving average is $186.46 and its 200-day simple moving average is $173.80. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. The firm has a market capitalization of $2.45 trillion, a PE ratio of 26.55, a price-to-earnings-growth ratio of 1.27 and a beta of 0.98. Alphabet has a 12-month low of $130.66 and a 12-month high of $202.29.

Alphabet (NASDAQ:GOOGL) last issued its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.83 by $0.29. The company had revenue of $88.27 billion for the quarter, compared to analyst estimates of $72.85 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. During the same quarter last year, the firm earned $1.55 EPS. As a group, research analysts predict that Alphabet will post 8.02 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $177.36, for a total value of $3,990,600.00. Following the completion of the sale, the chief executive officer now directly owns 2,084,306 shares in the company, valued at approximately $369,672,512.16. The trade was a 1.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Amie Thuener O’toole sold 1,367 shares of the stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $171.42, for a total value of $234,331.14. Following the sale, the chief accounting officer now directly owns 26,349 shares in the company, valued at $4,516,745.58. This represents a 4.93 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 133,387 shares of company stock valued at $24,368,654. Insiders own 11.55% of the company’s stock.

Institutional Investors Weigh In On Alphabet

A number of large investors have recently bought and sold shares of the company. Bennett Selby Investments LP raised its stake in Alphabet by 4.0% in the 4th quarter. Bennett Selby Investments LP now owns 1,354 shares of the information services provider’s stock worth $256,000 after acquiring an additional 52 shares during the last quarter. Conrad Siegel Investment Advisors Inc. increased its holdings in shares of Alphabet by 0.5% in the fourth quarter. Conrad Siegel Investment Advisors Inc. now owns 9,845 shares of the information services provider’s stock valued at $1,864,000 after purchasing an additional 53 shares during the period. Denver PWM LLC raised its stake in shares of Alphabet by 25.4% in the third quarter. Denver PWM LLC now owns 281 shares of the information services provider’s stock worth $47,000 after purchasing an additional 57 shares during the last quarter. Ignite Planners LLC raised its stake in shares of Alphabet by 0.4% in the fourth quarter. Ignite Planners LLC now owns 15,078 shares of the information services provider’s stock worth $2,892,000 after purchasing an additional 57 shares during the last quarter. Finally, Fermata Advisors LLC lifted its holdings in shares of Alphabet by 0.8% during the fourth quarter. Fermata Advisors LLC now owns 7,433 shares of the information services provider’s stock worth $1,407,000 after purchasing an additional 57 shares during the period. 40.03% of the stock is currently owned by institutional investors and hedge funds.

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.