Alphabet (NASDAQ:GOOGL – Get Rating) had its price objective cut by stock analysts at Truist Financial from $3,600.00 to $3,500.00 in a report released on Wednesday, The Fly reports. Truist Financial’s price target suggests a potential upside of 47.49% from the company’s previous close.
A number of other analysts also recently weighed in on the stock. Piper Sandler reduced their target price on shares of Alphabet from $3,475.00 to $2,900.00 in a research report on Wednesday. Susquehanna upped their price target on shares of Alphabet from $3,600.00 to $3,750.00 and gave the stock a “positive” rating in a research note on Wednesday, February 2nd. Royal Bank of Canada upped their price target on shares of Alphabet from $3,400.00 to $3,500.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 2nd. Wolfe Research dropped their price target on shares of Alphabet from $3,500.00 to $2,900.00 in a research note on Wednesday. Finally, Barclays lowered their target price on shares of Alphabet from $3,300.00 to $3,200.00 in a research note on Wednesday. Three 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. Based on data from MarketBeat, Alphabet currently has an average rating of “Buy” and a consensus target price of $3,311.51.
Shares of Alphabet stock opened at $2,373.00 on Wednesday. The company has a current ratio of 2.93, a quick ratio of 2.91 and a debt-to-equity ratio of 0.06. The company’s fifty day simple moving average is $2,653.92 and its two-hundred day simple moving average is $2,777.11. The company has a market cap of $1.57 trillion, a P/E ratio of 21.14, a PEG ratio of 1.08 and a beta of 1.06. Alphabet has a 12-month low of $2,193.62 and a 12-month high of $3,030.93.
Alphabet (NASDAQ:GOOGL – Get Rating) last released its earnings results on Tuesday, April 26th. The information services provider reported $24.62 earnings per share for the quarter, missing the Zacks’ consensus estimate of $25.51 by ($0.89). Alphabet had a return on equity of 31.56% and a net margin of 29.51%. During the same quarter in the previous year, the company earned $26.29 earnings per share. Analysts predict that Alphabet will post 117.05 EPS for the current fiscal year.
In other Alphabet news, Director Brin Sergey sold 2,639 shares of Alphabet stock in a transaction dated Monday, April 11th. The stock was sold at an average price of $2,632.28, for a total value of $6,946,586.92. Following the transaction, the director now owns 18,599,842 shares in the company, valued at $48,959,992,099.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Lawrence Page sold 100 shares of Alphabet stock in a transaction dated 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 transaction, the director now owns 19,527,502 shares in the company, valued at approximately $50,266,914,548.32. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 549,698 shares of company stock valued at $20,324,689. Corporate insiders own 13.20% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of GOOGL. Avantax Advisory Services Inc. boosted its holdings in Alphabet by 12.8% in the first quarter. Avantax Advisory Services Inc. now owns 6,750 shares of the information services provider’s stock worth $18,840,000 after acquiring an additional 768 shares in the last quarter. Tiedemann Advisors LLC lifted its holdings in shares of Alphabet by 0.3% during the first quarter. Tiedemann Advisors LLC now owns 10,407 shares of the information services provider’s stock worth $28,942,000 after purchasing an additional 31 shares during the period. McKinley Carter Wealth Services Inc. lifted its holdings in Alphabet by 2.3% in the first quarter. McKinley Carter Wealth Services Inc. now owns 3,663 shares of the information services provider’s stock valued at $10,188,000 after acquiring an additional 83 shares during the period. Advisor Partners LLC lifted its holdings in Alphabet by 1.7% in the first quarter. Advisor Partners LLC now owns 10,160 shares of the information services provider’s stock valued at $28,259,000 after acquiring an additional 170 shares during the period. Finally, Barnes Pettey Financial Advisors LLC increased its position in shares of Alphabet by 16.9% in the first quarter. Barnes Pettey Financial Advisors LLC now owns 276 shares of the information services provider’s stock valued at $768,000 after buying an additional 40 shares in the last quarter. Institutional investors own 34.47% of the company’s stock.
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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