Alphabet (NASDAQ:GOOGL – Get Rating) had its price objective lowered by research analysts at Moffett Nathanson to $2,650.00 in a research report issued to clients and investors on Thursday, Stock Target Advisor reports. Moffett Nathanson’s target price would suggest a potential upside of 23.13% from the stock’s current price.
A number of other equities analysts have also commented on GOOGL. Susquehanna Bancshares lifted their price target on shares of Alphabet from $3,600.00 to $3,750.00 and gave the company a “positive” rating in a research report on Wednesday, February 2nd. Guggenheim lowered their price objective on Alphabet from $3,350.00 to $3,000.00 in a research report on Wednesday, April 27th. Sanford C. Bernstein lifted their price objective on Alphabet from $3,250.00 to $3,500.00 and gave the company an “outperform” rating in a research report on Wednesday, February 2nd. Barclays reduced their target price on shares of Alphabet from $3,300.00 to $3,200.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 27th. Finally, MKM Partners dropped their target price on shares of Alphabet from $3,375.00 to $3,300.00 and set a “buy” rating for the company in a research report on Thursday, April 14th. Two investment analysts have rated the stock with a hold rating, thirty-five have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Alphabet has an average rating of “Buy” and an average price target of $3,312.41.
NASDAQ GOOGL traded up $36.15 during mid-day trading on Thursday, hitting $2,152.25. The stock had a trading volume of 61,485 shares, compared to its average volume of 1,955,168. The company has a quick ratio of 2.85, a current ratio of 2.87 and a debt-to-equity ratio of 0.06. Alphabet has a 52-week low of $2,037.69 and a 52-week high of $3,030.93. The company has a 50 day simple moving average of $2,506.43 and a 200 day simple moving average of $2,693.65. The company has a market cap of $1.42 trillion, a price-to-earnings ratio of 19.49, a P/E/G ratio of 1.03 and a beta of 1.13.
Alphabet (NASDAQ:GOOGL – Get Rating) last announced its quarterly earnings results on Tuesday, April 26th. The information services provider reported $24.62 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $25.51 by ($0.89). Alphabet had a return on equity of 30.18% and a net margin of 27.57%. During the same period last year, the business posted $26.29 EPS. As a group, equities analysts anticipate that Alphabet will post 112.62 earnings per share for the current fiscal year.
In related news, major shareholder 2016 Gp L.L.C. Gv sold 544,249 shares of the stock in a transaction on Monday, April 11th. The stock was sold at an average price of $11.16, for a total value of $6,073,818.84. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Prabhakar Raghavan sold 490 shares of the business’s stock in a transaction dated Tuesday, May 3rd. The stock was sold at an average price of $2,335.30, for a total transaction of $1,144,297.00. Following the sale, the senior vice president now directly owns 497 shares of the company’s stock, valued at $1,160,644.10. The disclosure for this sale can be found here. Over the last quarter, insiders sold 550,261 shares of company stock valued at $21,637,779. 13.20% of the stock is currently owned by corporate insiders.
Institutional investors have recently made changes to their positions in the company. Wagner Wealth Management LLC grew its holdings in shares of Alphabet by 4.5% during the third quarter. Wagner Wealth Management LLC now owns 92 shares of the information services provider’s stock worth $272,000 after purchasing an additional 4 shares in the last quarter. Boltwood Capital Management lifted its position in Alphabet by 0.3% during the fourth quarter. Boltwood Capital Management now owns 1,333 shares of the information services provider’s stock valued at $3,862,000 after purchasing an additional 4 shares during the last quarter. Latitude Advisors LLC grew its stake in Alphabet by 0.4% in the 4th quarter. Latitude Advisors LLC now owns 1,108 shares of the information services provider’s stock worth $3,210,000 after buying an additional 4 shares in the last quarter. Brave Asset Management Inc. grew its stake in Alphabet by 0.6% in the 4th quarter. Brave Asset Management Inc. now owns 628 shares of the information services provider’s stock worth $1,819,000 after buying an additional 4 shares in the last quarter. Finally, Smithbridge Asset Management Inc. DE increased its holdings in shares of Alphabet by 1.5% in the 4th quarter. Smithbridge Asset Management Inc. DE now owns 263 shares of the information services provider’s stock worth $762,000 after buying an additional 4 shares during the last quarter. 41.70% of the stock is owned by hedge funds and other institutional investors.
About Alphabet (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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