Alphabet (NASDAQ:GOOGL – Get Rating) had its price target decreased by stock analysts at UBS Group from $3,600.00 to $2,650.00 in a report issued on Thursday, The Fly reports. UBS Group’s target price indicates a potential upside of 20.71% from the company’s previous close.
Several other equities analysts also recently commented on GOOGL. MKM Partners dropped their price target on shares of Alphabet from $3,375.00 to $3,300.00 and set a “buy” rating for the company in a research note on Thursday, April 14th. KeyCorp dropped their price target on shares of Alphabet from $3,400.00 to $3,075.00 and set an “overweight” rating for the company in a research note on Wednesday, April 20th. Barclays dropped their price target on shares of Alphabet from $3,300.00 to $3,200.00 and set an “overweight” rating for the company in a research note on Wednesday, April 27th. BMO Capital Markets lowered their target price on shares of Alphabet from $3,300.00 to $3,000.00 and set an “outperform” rating for the company in a research note on Wednesday, April 27th. Finally, Morgan Stanley lowered their target price on shares of Alphabet from $3,270.00 to $3,000.00 in a research note on Wednesday, June 1st. One research analyst has rated the stock with a hold rating, thirty-four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $3,297.86.
Alphabet stock opened at $2,195.29 on Thursday. Alphabet has a fifty-two week low of $2,037.69 and a fifty-two week high of $3,030.93. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.85 and a current ratio of 2.87. The firm has a 50 day moving average price of $2,345.35 and a 200 day moving average price of $2,622.03. The company has a market capitalization of $1.45 trillion, a PE ratio of 19.86, a price-to-earnings-growth ratio of 1.05 and a beta of 1.13.
Alphabet (NASDAQ:GOOGL – Get Rating) last posted its earnings results on Tuesday, April 26th. The information services provider reported $24.62 earnings per share for the quarter, missing the consensus estimate of $25.51 by ($0.89). Alphabet had a net margin of 27.57% and a return on equity of 30.18%. During the same quarter last year, the company posted $26.29 earnings per share. As a group, equities research analysts forecast that Alphabet will post 111.86 earnings per share for the current year.
In other news, CAO Amie Thuener O’toole sold 42 shares of the stock in a transaction that occurred on Tuesday, May 3rd. The shares were sold at an average price of $2,335.30, for a total value of $98,082.60. Following the sale, the chief accounting officer now directly owns 1,170 shares in the company, valued at $2,732,301. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder 2016 Gp L.L.C. Gv sold 544,249 shares of the stock in a transaction that occurred on Monday, April 11th. The shares were sold at an average price of $11.16, for a total transaction of $6,073,818.84. The disclosure for this sale can be found here. Insiders have sold 550,357 shares of company stock worth $21,855,978 over the last 90 days. 11.44% of the stock is currently owned by company insiders.
Several hedge funds have recently added to or reduced their stakes in GOOGL. Vanguard Group Inc. raised its holdings in Alphabet by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 23,304,411 shares of the information services provider’s stock valued at $64,817,723,000 after acquiring an additional 331,945 shares during the last quarter. State Street Corp boosted its holdings in shares of Alphabet by 1.4% during the fourth quarter. State Street Corp now owns 11,252,792 shares of the information services provider’s stock worth $32,599,789,000 after purchasing an additional 157,280 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Alphabet by 2.2% during the fourth quarter. Geode Capital Management LLC now owns 5,322,633 shares of the information services provider’s stock worth $15,381,257,000 after purchasing an additional 116,084 shares during the last quarter. Norges Bank acquired a new stake in shares of Alphabet during the fourth quarter worth $14,477,662,000. Finally, Aaron Wealth Advisors LLC boosted its holdings in shares of Alphabet by 699,790.2% during the first quarter. Aaron Wealth Advisors LLC now owns 4,703,262 shares of the information services provider’s stock worth $1,691,000 after purchasing an additional 4,702,590 shares during the last quarter. Institutional investors and hedge funds own 41.70% 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.
- Get a free copy of the StockNews.com research report on Alphabet (GOOGL)
- Allstate: A Safe Stock During Volatile Times, Which Will Benefit From Rising Rates
- Wix.com Stock Nearing a Bottom Wick
- Home Depot May Have Value In The Long Term:
- A Game-Changing Deal For Blink Charging
- The Insiders Are Selling Chevron But You Shouldn’t
Receive News & Ratings for Alphabet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alphabet and related companies with MarketBeat.com's FREE daily email newsletter.