Alphabet (NASDAQ:GOOGL) PT Lowered to $3,000.00

Alphabet (NASDAQ:GOOGLGet Rating) had its price objective dropped by analysts at Morgan Stanley from $3,270.00 to $3,000.00 in a note issued to investors on Wednesday, The Fly reports. Morgan Stanley’s price target would indicate a potential upside of 31.85% from the company’s current price.

Several other brokerages have also weighed in on GOOGL. StockNews.com lowered Alphabet from a “buy” rating to a “hold” rating in a research report on Friday, April 29th. Stifel Nicolaus dropped their target price on Alphabet from $3,500.00 to $3,100.00 and set a “buy” rating on the stock in a research report on Wednesday, April 27th. MKM Partners dropped their target price on Alphabet from $3,375.00 to $3,300.00 and set a “buy” rating on the stock in a research report on Thursday, April 14th. Citigroup dropped their target price on Alphabet from $3,500.00 to $3,175.00 in a research report on Wednesday, April 27th. Finally, Truist Financial dropped their target price on Alphabet from $3,600.00 to $3,500.00 and set a “buy” rating on the stock in a research report on Wednesday, April 27th. Two analysts have rated the stock with a hold rating, thirty-five have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $3,305.49.

Shares of Alphabet stock opened at $2,275.24 on Wednesday. The company has a quick ratio of 2.85, a current ratio of 2.87 and a debt-to-equity ratio of 0.06. The firm has a market cap of $1.50 trillion, a price-to-earnings ratio of 20.58, a price-to-earnings-growth ratio of 1.05 and a beta of 1.13. The business has a fifty day simple moving average of $2,465.61 and a 200-day simple moving average of $2,671.63. Alphabet has a fifty-two week low of $2,037.69 and a fifty-two week high of $3,030.93.

Alphabet’s stock is going to split on Monday, July 18th. The 20-1 split was announced on Tuesday, February 1st. The newly created shares will be issued to shareholders after the market closes on Friday, July 15th.

Alphabet (NASDAQ:GOOGLGet Rating) last announced its earnings results on Tuesday, April 26th. The information services provider reported $24.62 EPS for the quarter, missing the consensus estimate of $25.51 by ($0.89). Alphabet had a net margin of 27.57% and a return on equity of 30.18%. During the same period in the previous year, the company earned $26.29 EPS. Analysts anticipate that Alphabet will post 112.46 earnings per share for the current fiscal year.

In related news, Director Ann Mather sold 21 shares of Alphabet stock in a transaction on Wednesday, May 25th. The stock was sold at an average price of $2,102.84, for a total transaction of $44,159.64. Following the completion of the sale, the director now directly owns 565 shares of the company’s stock, valued at $1,188,104.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, major shareholder 2016 Gp L.L.C. Gv sold 544,249 shares of Alphabet stock in a transaction on Monday, April 11th. The stock was sold at an average price of $11.16, for a total value of $6,073,818.84. The disclosure for this sale can be found here. Insiders sold a total of 550,282 shares of company stock valued at $21,681,939 over the last three months. Insiders own 11.44% of the company’s stock.

A number of hedge funds have recently bought and sold shares of GOOGL. Wagner Wealth Management LLC increased its position in shares of Alphabet by 4.5% during the third quarter. Wagner Wealth Management LLC now owns 92 shares of the information services provider’s stock valued at $272,000 after buying an additional 4 shares during the period. Boltwood Capital Management increased its position in shares of Alphabet by 0.3% during the fourth quarter. Boltwood Capital Management now owns 1,333 shares of the information services provider’s stock valued at $3,862,000 after buying an additional 4 shares during the period. Latitude Advisors LLC increased its position in shares of Alphabet by 0.4% during the fourth quarter. Latitude Advisors LLC now owns 1,108 shares of the information services provider’s stock valued at $3,210,000 after buying an additional 4 shares during the period. Brave Asset Management Inc. increased its position in shares of Alphabet by 0.6% during the fourth quarter. Brave Asset Management Inc. now owns 628 shares of the information services provider’s stock valued at $1,819,000 after buying an additional 4 shares during the period. Finally, Smithbridge Asset Management Inc. DE increased its position in shares of Alphabet by 1.5% during the fourth quarter. Smithbridge Asset Management Inc. DE now owns 263 shares of the information services provider’s stock valued at $762,000 after buying an additional 4 shares during the period. Hedge funds and other institutional investors own 41.70% of the company’s stock.

Alphabet Company Profile (Get Rating)

Alphabet Inc provides 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 offers products and services, including ads, Android, Chrome, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.

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