BMO Capital Markets Increases Alphabet (NASDAQ:GOOGL) Price Target to $215.00

Alphabet (NASDAQ:GOOGL) had its target price increased by stock analysts at BMO Capital Markets from $185.00 to $215.00 in a research note issued to investors on Friday, Benzinga reports. The firm presently has an “outperform” rating on the information services provider’s stock. BMO Capital Markets’ target price indicates a potential upside of 25.04% from the company’s current price.

A number of other analysts also recently issued reports on the stock. Rosenblatt Securities lifted their price target on shares of Alphabet from $172.00 to $182.00 and gave the company a “buy” rating in a report on Friday. JMP Securities lifted their price target on shares of Alphabet from $160.00 to $200.00 and gave the company a “market outperform” rating in a report on Friday. Canaccord Genuity Group lifted their price target on shares of Alphabet from $190.00 to $210.00 and gave the company a “buy” rating in a report on Friday. Stifel Nicolaus lifted their price target on shares of Alphabet from $174.00 to $196.00 and gave the company a “buy” rating in a report on Friday. Finally, Redburn Atlantic lifted their price target on shares of Alphabet from $150.00 to $165.00 and gave the company a “buy” rating in a report on Wednesday, January 31st. Five research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Alphabet has an average rating of “Moderate Buy” and a consensus target price of $187.82.

Alphabet Stock Up 10.2 %

Shares of GOOGL stock opened at $171.95 on Friday. The company has a market capitalization of $2.14 trillion, a price-to-earnings ratio of 26.37, a PEG ratio of 1.43 and a beta of 1.05. Alphabet has a one year low of $103.54 and a one year high of $174.71. The company’s fifty day moving average price is $147.85 and its 200-day moving average price is $141.42. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.10 and a quick ratio of 2.10.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Tuesday, January 30th. The information services provider reported $1.64 EPS for the quarter, beating the consensus estimate of $1.60 by $0.04. The firm had revenue of $86.31 billion for the quarter, compared to the consensus estimate of $70.77 billion. Alphabet had a net margin of 25.90% and a return on equity of 30.01%. During the same period last year, the firm earned $1.05 EPS. Sell-side analysts expect that Alphabet will post 6.79 EPS for the current fiscal year.

Insider Activity at Alphabet

In related news, Director Frances Arnold sold 230 shares of Alphabet stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $154.06, for a total transaction of $35,433.80. Following the completion of the sale, the director now owns 15,104 shares in the company, valued at approximately $2,326,922.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, Director Frances Arnold sold 230 shares of Alphabet stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $154.06, for a total transaction of $35,433.80. Following the completion of the sale, the director now owns 15,104 shares in the company, valued at approximately $2,326,922.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Prabhakar Raghavan sold 3,258 shares of the business’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $155.97, for a total transaction of $508,150.26. Following the completion of the sale, the senior vice president now owns 144,685 shares of the company’s stock, valued at approximately $22,566,519.45. The disclosure for this sale can be found here. Insiders sold 253,439 shares of company stock worth $36,746,578 in the last 90 days. 0.88% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Alphabet

Large investors have recently modified their holdings of the business. Tributary Capital Management LLC bought a new stake in shares of Alphabet in the 1st quarter valued at about $30,000. Vermillion & White Wealth Management Group LLC bought a new position in shares of Alphabet during the 4th quarter worth approximately $30,000. DiNuzzo Private Wealth Inc. bought a new position in shares of Alphabet during the 4th quarter worth approximately $38,000. Richardson Capital Management LLC raised its stake in shares of Alphabet by 87.5% during the 1st quarter. Richardson Capital Management LLC now owns 300 shares of the information services provider’s stock worth $45,000 after acquiring an additional 140 shares in the last quarter. Finally, Meritage Group LP raised its stake in shares of Alphabet by 1,061.5% during the 3rd quarter. Meritage Group LP now owns 302 shares of the information services provider’s stock worth $40,000 after acquiring an additional 276 shares in the last quarter. Institutional investors own 40.03% of the company’s stock.

Alphabet Company Profile

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.