Alphabet (NASDAQ:GOOGL – Get Rating) had its price target decreased by Barclays from $3,300.00 to $3,200.00 in a research note issued to investors on Wednesday, The Fly reports. Barclays‘s price objective would suggest a potential upside of 34.85% from the company’s current price.
A number of other brokerages also recently commented on GOOGL. Jefferies Financial Group assumed coverage on Alphabet in a research note on Thursday, April 21st. They set a “buy” rating and a $3,600.00 price objective for the company. Rosenblatt Securities assumed coverage on Alphabet in a report on Tuesday, April 19th. They issued a “buy” rating and a $4,183.00 price objective for the company. JPMorgan Chase & Co. upped their target price on Alphabet from $3,250.00 to $3,450.00 and gave the company an “overweight” rating in a report on Wednesday, February 2nd. Sanford C. Bernstein upped their target price on Alphabet from $3,250.00 to $3,500.00 and gave the company an “outperform” rating in a report on Wednesday, February 2nd. Finally, Citigroup reduced their price objective on Alphabet from $3,500.00 to $3,175.00 in a research note on Wednesday. Three investment analysts have rated the stock with a hold rating, thirty-five have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Alphabet has a consensus rating of “Buy” and a consensus target price of $3,314.08.
Shares of NASDAQ GOOGL opened at $2,373.00 on Wednesday. Alphabet has a 1-year low of $2,193.62 and a 1-year high of $3,030.93. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.93 and a quick ratio of 2.91. The stock has a fifty day moving average price of $2,653.92 and a 200 day moving average price of $2,777.11. The company has a market cap of $1.57 trillion, a PE ratio of 21.14, a P/E/G ratio of 1.08 and a beta of 1.06.
Alphabet (NASDAQ:GOOGL – Get Rating) last posted its quarterly earnings results on Tuesday, April 26th. The information services provider reported $24.62 EPS for the quarter, missing the consensus estimate of $25.51 by ($0.89). Alphabet had a net margin of 29.51% and a return on equity of 31.56%. During the same period in the previous year, the firm posted $26.29 earnings per share. Analysts anticipate that Alphabet will post 117.05 earnings per share for the current fiscal year.
In other Alphabet news, Director Brin Sergey sold 2,639 shares of the company’s stock in a transaction on Monday, April 11th. The shares were sold at an average price of $2,632.28, for a total value of $6,946,586.92. Following the sale, the director now directly owns 18,599,842 shares of the company’s stock, valued at $48,959,992,099.76. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Lawrence Page sold 100 shares of the firm’s stock in a transaction that occurred on Monday, April 18th. The shares were sold at an average price of $2,574.16, for a total value of $257,416.00. Following the completion of the sale, the director now directly owns 19,527,502 shares in the company, valued at $50,266,914,548.32. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 549,698 shares of company stock worth $20,324,689. Insiders own 13.20% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the company. Strategic Asset Management LLC acquired a new position in shares of Alphabet during the third quarter worth $28,000. Morling Financial Advisors LLC purchased a new stake in shares of Alphabet in the fourth quarter valued at about $29,000. West Bancorporation Inc. purchased a new stake in shares of Alphabet in the fourth quarter valued at about $29,000. Wealthgate Family Office LLC purchased a new position in Alphabet during the fourth quarter worth about $32,000. Finally, Disciplined Investments LLC raised its holdings in Alphabet by 200.0% during the third quarter. Disciplined Investments LLC now owns 15 shares of the information services provider’s stock worth $40,000 after purchasing an additional 10 shares in the last quarter. 34.47% of the stock is currently owned by hedge funds and other institutional investors.
Alphabet Company Profile (Get Rating)
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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