Alphabet (NASDAQ:GOOG) Price Target Increased to $235.00 by Analysts at Jefferies Financial Group

by · The Markets Daily

Alphabet (NASDAQ:GOOG – Get Free Report) had its price objective upped by Jefferies Financial Group from $220.00 to $235.00 in a report issued on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the information services provider’s stock. Jefferies Financial Group’s price objective points to a potential upside of 29.05% from the company’s current price.

A number of other research firms also recently weighed in on GOOG. Cantor Fitzgerald upgraded shares of Alphabet to a “hold” rating in a report on Thursday, September 5th. Scotiabank began coverage on Alphabet in a research report on Friday, October 11th. They set a “sector outperform” rating and a $212.00 price objective on the stock. Wolfe Research upgraded Alphabet to a “strong-buy” rating in a report on Tuesday, July 16th. TD Cowen increased their price target on Alphabet from $200.00 to $220.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. Finally, Pivotal Research initiated coverage on Alphabet in a research report on Tuesday, October 1st. They issued a “buy” rating and a $215.00 price target for the company. Five research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $198.69.

View Our Latest Report on Alphabet

Alphabet Stock Performance

NASDAQ GOOG opened at $182.10 on Wednesday. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08 and a quick ratio of 2.08. Alphabet has a 1-year low of $123.93 and a 1-year high of $193.31. The business has a 50 day simple moving average of $163.39 and a two-hundred day simple moving average of $170.26. The stock has a market capitalization of $2.25 trillion, a PE ratio of 26.25, a P/E/G ratio of 1.27 and a beta of 1.04.

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

Insider Buying and Selling at Alphabet

In other news, SVP Prabhakar Raghavan sold 34,257 shares of Alphabet stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $162.60, for a total transaction of $5,570,188.20. Following the completion of the sale, the senior vice president now owns 312,210 shares of the company’s stock, valued at approximately $50,765,346. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, SVP Prabhakar Raghavan sold 34,257 shares of the stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $162.60, for a total transaction of $5,570,188.20. Following the transaction, the senior vice president now owns 312,210 shares of the company’s stock, valued at approximately $50,765,346. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $168.00, for a total value of $114,576.00. Following the completion of the sale, the chief accounting officer now owns 31,334 shares of the company’s stock, valued at $5,264,112. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 220,426 shares of company stock valued at $35,993,340 in the last three months. Company insiders own 12.99% of the company’s stock.

Hedge Funds Weigh In On Alphabet

Institutional investors have recently bought and sold shares of the business. Capital International Investors increased its holdings in shares of Alphabet by 9.3% in the 1st quarter. Capital International Investors now owns 87,716,562 shares of the information services provider’s stock valued at $13,355,724,000 after acquiring an additional 7,470,042 shares during the period. JPMorgan Chase & Co. boosted its position in Alphabet by 19.7% during the first quarter. JPMorgan Chase & Co. now owns 84,171,721 shares of the information services provider’s stock valued at $12,815,986,000 after purchasing an additional 13,876,534 shares in the last quarter. Capital World Investors grew its stake in Alphabet by 2.2% in the first quarter. Capital World Investors now owns 45,731,826 shares of the information services provider’s stock valued at $6,963,128,000 after purchasing an additional 979,083 shares during the last quarter. Capital Research Global Investors grew its stake in Alphabet by 2.0% in the first quarter. Capital Research Global Investors now owns 35,558,778 shares of the information services provider’s stock valued at $5,414,179,000 after purchasing an additional 684,968 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in Alphabet by 4.5% in the second quarter. Dimensional Fund Advisors LP now owns 14,657,421 shares of the information services provider’s stock worth $2,688,743,000 after purchasing an additional 636,008 shares in the last quarter. 27.26% of the stock is owned by hedge funds and other institutional investors.

Alphabet Company Profile

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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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