Alphabet (NASDAQ:GOOGL) PT Raised to $182.00

Alphabet (NASDAQ:GOOGL) had its target price raised by research analysts at Rosenblatt Securities from $172.00 to $182.00 in a research note issued on Friday, Benzinga reports. The firm currently has a “buy” rating on the information services provider’s stock. Rosenblatt Securities’ price target would indicate a potential upside of 5.84% from the stock’s previous close.

A number of other analysts also recently issued reports on the stock. Roth Mkm decreased their price objective on shares of Alphabet from $166.00 to $164.00 and set a “buy” rating for the company in a report on Wednesday, January 31st. Mizuho increased their target price on shares of Alphabet from $155.00 to $170.00 and gave the stock a “buy” rating in a research report on Wednesday, January 17th. Canaccord Genuity Group increased their target price on shares of Alphabet from $180.00 to $190.00 and gave the stock a “buy” rating in a research report on Wednesday, April 17th. Royal Bank of Canada reiterated an “outperform” rating and set a $155.00 target price on shares of Alphabet in a research report on Wednesday, January 31st. Finally, Truist Financial increased their target price on shares of Alphabet from $158.00 to $170.00 and gave the stock a “buy” rating in a research report on Wednesday, April 17th. Five investment analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $187.82.

Alphabet Stock Performance

NASDAQ GOOGL opened at $171.95 on Friday. Alphabet has a 52-week low of $103.54 and a 52-week high of $174.71. The company has a 50-day simple moving average of $147.85 and a 200 day simple moving average of $141.42. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.10 and a current ratio of 2.10. The company has a market capitalization of $2.14 trillion, a PE ratio of 26.37, a price-to-earnings-growth ratio of 1.43 and a beta of 1.05.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data on Tuesday, January 30th. The information services provider reported $1.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.60 by $0.04. Alphabet had a net margin of 25.90% and a return on equity of 30.01%. The business had revenue of $86.31 billion during the quarter, compared to the consensus estimate of $70.77 billion. During the same quarter last year, the company posted $1.05 earnings per share. On average, research analysts predict that Alphabet will post 6.79 EPS for the current year.

Insiders Place Their Bets

In other Alphabet news, Director John L. Hennessy sold 2,100 shares of Alphabet stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $175.76, for a total transaction of $369,096.00. Following the transaction, the director now directly owns 5,891 shares of the company’s stock, valued at $1,035,402.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Alphabet news, Director John L. Hennessy sold 2,100 shares of Alphabet stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $175.76, for a total transaction of $369,096.00. Following the transaction, the director now directly owns 5,891 shares of the company’s stock, valued at $1,035,402.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Frances Arnold sold 230 shares of Alphabet stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $154.06, for a total transaction of $35,433.80. Following the transaction, the director now directly owns 15,104 shares in the company, valued at $2,326,922.24. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 253,439 shares of company stock valued at $36,746,578. 0.88% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in GOOGL. Norges Bank purchased a new position in shares of Alphabet in the fourth quarter worth $15,441,917,000. FMR LLC increased its stake in shares of Alphabet by 5.6% in the third quarter. FMR LLC now owns 227,317,469 shares of the information services provider’s stock worth $29,746,764,000 after buying an additional 12,070,681 shares during the period. Vanguard Group Inc. increased its stake in shares of Alphabet by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 493,810,251 shares of the information services provider’s stock worth $68,980,354,000 after buying an additional 6,374,756 shares during the period. Public Employees Retirement Association of Colorado increased its stake in shares of Alphabet by 39,754.9% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 6,025,667 shares of the information services provider’s stock worth $841,725,000 after buying an additional 6,010,548 shares during the period. Finally, International Assets Investment Management LLC increased its stake in shares of Alphabet by 4,894.1% in the fourth quarter. International Assets Investment Management LLC now owns 5,445,396 shares of the information services provider’s stock worth $7,606,670,000 after buying an additional 5,336,359 shares during the period. 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.