Cantor Fitzgerald Reaffirms Neutral Rating for Alphabet (NASDAQ:GOOGL)

Alphabet (NASDAQ:GOOGL)‘s stock had its “neutral” rating reiterated by equities research analysts at Cantor Fitzgerald in a research note issued to investors on Monday, Benzinga reports. They presently have a $190.00 price target on the information services provider’s stock. Cantor Fitzgerald’s price target would suggest a potential upside of 13.78% from the stock’s current price.

Other research analysts have also issued reports about the company. Needham & Company LLC restated a “buy” rating and issued a $210.00 price target on shares of Alphabet in a research report on Friday, August 30th. JMP Securities reiterated a “market outperform” rating and set a $200.00 target price on shares of Alphabet in a report on Wednesday, September 25th. DA Davidson initiated coverage on shares of Alphabet in a report on Tuesday, September 10th. They issued a “neutral” rating and a $170.00 price objective on the stock. Wedbush restated an “outperform” rating and issued a $205.00 price target on shares of Alphabet in a research report on Thursday, September 5th. Finally, Bank of America increased their target price on shares of Alphabet from $200.00 to $206.00 and gave the stock a “buy” rating in a report on Wednesday, July 17th. Eight research 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 company’s stock. According to data from MarketBeat.com, Alphabet presently has a consensus rating of “Moderate Buy” and an average target price of $201.35.

Alphabet Stock Up 0.7 %

Shares of GOOGL opened at $166.99 on Monday. The firm has a market capitalization of $2.06 trillion, a P/E ratio of 25.61, a P/E/G ratio of 1.21 and a beta of 1.04. Alphabet has a 52 week low of $120.21 and a 52 week high of $191.75. The company has a 50-day simple moving average of $162.22 and a 200-day simple moving average of $167.02. 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 issued its quarterly earnings data 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. The firm had revenue of $84.74 billion for the quarter, compared to analysts’ expectations of $70.60 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. During the same period in the prior year, the firm earned $1.44 earnings per share. On average, equities research analysts expect that Alphabet will post 7.63 earnings per share for the current year.

Insider Activity

In related news, Director John L. Hennessy sold 1,500 shares of the firm’s stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $185.85, for a total value of $278,775.00. Following the completion of the sale, the director now directly owns 30,824 shares in the company, valued at approximately $5,728,640.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director John L. Hennessy sold 1,500 shares of Alphabet stock in a transaction on Friday, July 12th. The shares were sold at an average price of $185.85, for a total transaction of $278,775.00. Following the transaction, the director now owns 30,824 shares in the company, valued at $5,728,640.40. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $168.00, for a total transaction of $114,576.00. Following the completion of the transaction, the chief accounting officer now owns 31,334 shares in the company, valued at approximately $5,264,112. The disclosure for this sale can be found here. Insiders sold 193,725 shares of company stock valued at $31,933,031 in the last quarter. Company insiders own 11.55% of the company’s stock.

Institutional Investors Weigh In On Alphabet

A number of institutional investors and hedge funds have recently modified their holdings of GOOGL. Davis Capital Management boosted its holdings in Alphabet by 35.4% during the 3rd quarter. Davis Capital Management now owns 2,060 shares of the information services provider’s stock valued at $342,000 after acquiring an additional 539 shares during the period. Jacobs & Co. CA grew its holdings in Alphabet by 1.8% in the third quarter. Jacobs & Co. CA now owns 95,512 shares of the information services provider’s stock worth $15,840,000 after purchasing an additional 1,662 shares during the period. Global Wealth Strategies & Associates grew its holdings in Alphabet by 20.4% in the third quarter. Global Wealth Strategies & Associates now owns 1,841 shares of the information services provider’s stock worth $305,000 after purchasing an additional 312 shares during the period. Ashburton Jersey Ltd bought a new position in Alphabet during the second quarter valued at approximately $1,328,000. Finally, Sage Advisors LLC bought a new position in Alphabet during the second quarter valued at approximately $234,000. 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.