Alphabet (NASDAQ:GOOG) Price Target Raised to $216.00

by · The Markets Daily

Alphabet (NASDAQ:GOOG – Get Free Report) had its price objective boosted by stock analysts at Citigroup from $212.00 to $216.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the information services provider’s stock. Citigroup’s price objective points to a potential upside of 18.14% from the stock’s current price.

Several other research analysts also recently weighed in on GOOG. Cantor Fitzgerald raised shares of Alphabet to a “hold” rating in a research note on Thursday, September 5th. Wolfe Research raised shares of Alphabet to a “strong-buy” rating in a research note on Tuesday, July 16th. Jefferies Financial Group boosted their target price on shares of Alphabet from $220.00 to $235.00 and gave the company a “buy” rating in a research note on Wednesday. TD Cowen boosted their target price on shares of Alphabet from $200.00 to $220.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. Finally, Oppenheimer cut their target price on shares of Alphabet from $210.00 to $185.00 and set an “outperform” rating for the company in a research note on Wednesday, September 25th. Five analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $198.69.

Read Our Latest Stock Report on GOOG

Alphabet Trading Up 6.8 %

NASDAQ:GOOG opened at $182.83 on Wednesday. The company has a market capitalization of $2.26 trillion, a PE ratio of 26.25, a price-to-earnings-growth ratio of 1.27 and a beta of 1.04. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04. Alphabet has a 52-week low of $123.93 and a 52-week high of $193.31. The stock has a fifty day simple moving average of $163.39 and a 200-day simple moving average of $170.26.

Alphabet (NASDAQ:GOOG – Get Free Report) last released its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.83 by $0.29. The business had revenue of $88.27 billion during the quarter, compared to the consensus estimate of $86.39 billion. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The business’s revenue was up 15.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.55 EPS. On average, equities research analysts expect that Alphabet will post 7.64 earnings per share for the current fiscal year.

Insider Transactions at Alphabet

In other news, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $168.00, for a total transaction of $114,576.00. Following the completion of the sale, the chief accounting officer now owns 31,334 shares in the company, valued at approximately $5,264,112. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $168.00, for a total value of $114,576.00. Following the completion of the transaction, the chief accounting officer now owns 31,334 shares in the company, valued at $5,264,112. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $162.35, for a total value of $3,652,875.00. Following the completion of the transaction, the chief executive officer now owns 2,182,385 shares of the company’s stock, valued at approximately $354,310,204.75. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 220,426 shares of company stock worth $35,993,340. 12.99% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Alphabet

A number of institutional investors have recently made changes to their positions in GOOG. Abich Financial Wealth Management LLC raised its position in shares of Alphabet by 9,200.0% in the 2nd quarter. Abich Financial Wealth Management LLC now owns 186 shares of the information services provider’s stock valued at $34,000 after purchasing an additional 184 shares in the last quarter. 1620 Investment Advisors Inc. acquired a new stake in Alphabet in the second quarter worth $37,000. HWG Holdings LP acquired a new stake in Alphabet in the second quarter worth $40,000. Slocum Gordon & Co LLP acquired a new stake in Alphabet in the second quarter worth $44,000. Finally, Hoese & Co LLP increased its position in Alphabet by 62.5% in the second quarter. Hoese & Co LLP now owns 260 shares of the information services provider’s stock worth $45,000 after buying an additional 100 shares during the period. 27.26% of the stock is owned by institutional investors and hedge funds.

Alphabet Company Profile

(Get Free Report)

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.

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