Alphabet (NASDAQ:GOOGL – Get Rating) had its target price dropped by investment analysts at Piper Sandler from $2,900.00 to $2,775.00 in a research note issued on Thursday, The Fly reports. Piper Sandler’s price objective indicates a potential upside of 21.83% from the company’s previous close.
Several other brokerages have also recently weighed in on GOOGL. Wolfe Research reduced their price target on Alphabet from $3,500.00 to $2,900.00 and set an “outperform” rating for the company in a research report on Wednesday, April 27th. Sanford C. Bernstein lifted their price target on Alphabet from $3,250.00 to $3,500.00 and gave the company an “outperform” rating in a research report on Wednesday, February 2nd. Jefferies Financial Group cut their price objective on Alphabet from $3,400.00 to $3,100.00 in a research report on Tuesday, May 24th. UBS Group cut their price objective on Alphabet from $3,850.00 to $3,600.00 and set a “buy” rating for the company in a research report on Wednesday, April 27th. Finally, Tigress Financial boosted their price objective on Alphabet from $3,540.00 to $3,670.00 and gave the company a “strong-buy” rating in a research report on Friday, March 18th. Two analysts have rated the stock with a hold rating, thirty-five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $3,302.28.
Shares of NASDAQ GOOGL opened at $2,277.84 on Thursday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.85 and a current ratio of 2.87. The company has a market cap of $1.50 trillion, a PE ratio of 20.60, a P/E/G ratio of 1.06 and a beta of 1.13. The business has a 50-day simple moving average of $2,465.61 and a two-hundred 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 (NASDAQ:GOOGL – Get Rating) last released its earnings results on Tuesday, April 26th. The information services provider reported $24.62 EPS for the quarter, missing analysts’ consensus estimates of $25.51 by ($0.89). Alphabet had a return on equity of 30.18% and a net margin of 27.57%. During the same period last year, the company posted $26.29 EPS. On average, sell-side analysts predict that Alphabet will post 112.46 earnings per share for the current fiscal year.
In other news, Director Ann Mather sold 21 shares of the firm’s 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 sale, the director now owns 565 shares in the company, valued at $1,188,104.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Amie Thuener O’toole sold 42 shares of the firm’s stock in a transaction on Tuesday, May 3rd. The stock was sold at an average price of $2,335.30, for a total value of $98,082.60. Following the sale, the chief accounting officer now owns 1,170 shares in the company, valued at approximately $2,732,301. The disclosure for this sale can be found here. Insiders have sold 550,282 shares of company stock valued at $21,681,939 in the last three months. 11.44% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Morling Financial Advisors LLC bought a new stake in Alphabet in the fourth quarter valued at about $29,000. West Bancorporation Inc. acquired a new stake in Alphabet in the fourth quarter worth approximately $29,000. Dravo Bay LLC acquired a new stake in Alphabet in the first quarter worth approximately $28,000. Wealthgate Family Office LLC acquired a new stake in Alphabet in the fourth quarter worth approximately $32,000. Finally, Financial Enhancement Group LLC acquired a new stake in Alphabet in the first quarter worth approximately $31,000. 41.70% of the stock is currently owned by institutional investors and hedge funds.
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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