Alphabet (NASDAQ:GOOGL) PT Raised to $125.00 at Morgan Stanley

Alphabet (NASDAQ:GOOGLGet Rating) had its target price raised by equities researchers at Morgan Stanley from $120.00 to $125.00 in a research note issued on Wednesday, Benzinga reports. The brokerage currently has an “overweight” rating on the information services provider’s stock. Morgan Stanley’s target price would indicate a potential upside of 34.34% from the company’s previous close.

Several other research firms have also commented on GOOGL. Sanford C. Bernstein lowered their target price on Alphabet from $130.00 to $120.00 and set an “outperform” rating for the company in a report on Wednesday, October 26th. MKM Partners cut their target price on Alphabet from $140.00 to $134.00 and set a “buy” rating on the stock in a research note on Wednesday, October 19th. Susquehanna reduced their price target on shares of Alphabet from $150.00 to $120.00 and set a “positive” rating for the company in a report on Wednesday, October 26th. Credit Suisse Group cut their price objective on shares of Alphabet from $134.00 to $128.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 26th. Finally, Rosenblatt Securities decreased their target price on shares of Alphabet from $156.00 to $130.00 and set a “buy” rating for the company in a research report on Wednesday, October 26th. Five analysts have rated the stock with a hold rating, thirty-two have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $132.13.

Alphabet Stock Performance

Alphabet stock opened at $93.05 on Wednesday. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.52 and a quick ratio of 2.47. Alphabet has a 12 month low of $83.34 and a 12 month high of $151.55. The company has a fifty day moving average price of $93.00 and a two-hundred day moving average price of $101.63. The company has a market cap of $1.20 trillion, a PE ratio of 18.48, a P/E/G ratio of 1.62 and a beta of 1.09.

Alphabet (NASDAQ:GOOGLGet Rating) last posted its quarterly earnings results on Tuesday, October 25th. The information services provider reported $1.06 EPS for the quarter, missing the consensus estimate of $1.25 by ($0.19). The business had revenue of $57.27 billion during the quarter, compared to analyst estimates of $58.36 billion. Alphabet had a net margin of 23.75% and a return on equity of 26.41%. During the same period last year, the firm posted $1.40 earnings per share. Research analysts expect that Alphabet will post 4.68 earnings per share for the current year.

Insider Activity at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 855 shares of the business’s stock in a transaction dated Wednesday, January 4th. The stock was sold at an average price of $91.15, for a total transaction of $77,933.25. Following the sale, the chief accounting officer now owns 25,122 shares in the company, valued at approximately $2,289,870.30. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, major shareholder 2019 Gp L.L.C. Gv acquired 800,000 shares of the firm’s stock in a transaction that occurred on Monday, October 24th. The stock was purchased at an average price of $17.00 per share, with a total value of $13,600,000.00. Following the purchase, the insider now owns 11,522,248 shares of the company’s stock, valued at approximately $195,878,216. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Amie Thuener O’toole sold 855 shares of the business’s stock in a transaction on Wednesday, January 4th. The shares were sold at an average price of $91.15, for a total transaction of $77,933.25. Following the sale, the chief accounting officer now directly owns 25,122 shares in the company, valued at $2,289,870.30. The disclosure for this sale can be found here. In the last quarter, insiders purchased 1,461,702 shares of company stock worth $36,999,217 and sold 190,744 shares worth $8,564,640. 11.44% of the stock is currently owned by corporate insiders.

Institutional Trading of Alphabet

Several hedge funds and other institutional investors have recently modified their holdings of GOOGL. Vanguard Group Inc. lifted its position in shares of Alphabet by 1,919.4% in the third quarter. Vanguard Group Inc. now owns 477,035,902 shares of the information services provider’s stock worth $45,628,484,000 after purchasing an additional 453,413,389 shares in the last quarter. State Street Corp increased its stake in Alphabet by 1,900.6% in the 3rd quarter. State Street Corp now owns 217,154,306 shares of the information services provider’s stock valued at $20,770,809,000 after buying an additional 206,300,042 shares during the period. Price T Rowe Associates Inc. MD lifted its position in Alphabet by 1,759.2% in the 3rd quarter. Price T Rowe Associates Inc. MD now owns 116,116,066 shares of the information services provider’s stock worth $11,106,502,000 after buying an additional 109,870,525 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in shares of Alphabet by 1,955.0% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 61,134,061 shares of the information services provider’s stock valued at $5,847,474,000 after buying an additional 58,159,150 shares during the period. Finally, Bank of New York Mellon Corp grew its holdings in shares of Alphabet by 1,896.9% during the 3rd quarter. Bank of New York Mellon Corp now owns 58,060,946 shares of the information services provider’s stock valued at $5,553,529,000 after acquiring an additional 55,153,448 shares in the last quarter. Institutional investors and hedge funds own 34.06% of the company’s stock.

About Alphabet

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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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