Alphabet (NASDAQ:GOOGL) Price Target Cut to $130.00

Alphabet (NASDAQ:GOOGLGet Rating) had its price target trimmed by Guggenheim to $130.00 in a research note issued to investors on Wednesday, Stock Target Advisor reports. They currently have an outperform rating on the information services provider’s stock.

Several other analysts have also issued reports on the stock. Rosenblatt Securities cut their price target on shares of Alphabet to $205.00 and set a buy rating for the company in a research report on Monday. Citigroup cut their price target on shares of Alphabet from $145.00 to $140.00 and set a buy rating for the company in a research report on Wednesday. Itaú Unibanco began coverage on shares of Alphabet in a research report on Tuesday. They set a market perform rating and a $113.00 price target for the company. Credit Suisse Group cut their price target on shares of Alphabet from $143.00 to $140.00 and set an outperform rating for the company in a research report on Wednesday. Finally, BMO Capital Markets dropped their target price on shares of Alphabet from $165.00 to $150.00 and set an outperform rating for the company in a report on Wednesday, April 27th. Five equities research analysts have rated the stock with a hold rating, thirty-five have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Alphabet has an average rating of Moderate Buy and an average price target of $149.08.

Alphabet Stock Up 7.7 %

Shares of NASDAQ:GOOGL opened at $113.06 on Wednesday. Alphabet has a 52-week low of $101.88 and a 52-week high of $151.55. The firm has a fifty day moving average of $154.24 and a 200 day moving average of $139.07. The firm has a market capitalization of $1.49 trillion, a PE ratio of 20.45, a price-to-earnings-growth ratio of 1.12 and a beta of 1.10. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.85 and a current ratio of 2.87.

Alphabet (NASDAQ:GOOGLGet Rating) last announced its earnings results on Tuesday, July 26th. The information services provider reported $1.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.32 by ($0.11). Alphabet had a return on equity of 30.18% and a net margin of 27.57%. During the same quarter in the previous year, the business earned $27.26 earnings per share. As a group, research analysts anticipate that Alphabet will post 5.37 EPS for the current fiscal year.

Insider Activity at Alphabet

In other news, major shareholder 2021 Gp L.L.C. Gv purchased 255,647 shares of Alphabet stock in a transaction that occurred on Tuesday, May 10th. The stock was bought at an average price of $34.65 per share, with a total value of $8,858,168.55. Following the completion of the transaction, the insider now directly owns 479,695 shares of the company’s stock, valued at $16,621,431.75. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, major shareholder 2021 Gp L.L.C. Gv bought 255,647 shares of the company’s stock in a transaction that occurred on Tuesday, May 10th. The shares were bought at an average price of $34.65 per share, for a total transaction of $8,858,168.55. Following the completion of the acquisition, the insider now owns 479,695 shares of the company’s stock, valued at approximately $16,621,431.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ann Mather sold 20 shares of the firm’s stock in a transaction that occurred on Monday, June 27th. The stock was sold at an average price of $2,383.32, for a total transaction of $47,666.40. Following the completion of the sale, the director now owns 565 shares in the company, valued at approximately $1,346,575.80. The disclosure for this sale can be found here. Insiders sold 6,039 shares of company stock valued at $12,649,005 over the last 90 days. Corporate insiders own 11.44% of the company’s stock.

Institutional Investors Weigh In On Alphabet

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Affinity Capital Advisors LLC lifted its holdings in shares of Alphabet by 1.3% during the fourth quarter. Affinity Capital Advisors LLC now owns 310 shares of the information services provider’s stock worth $898,000 after buying an additional 4 shares during the last quarter. Summit Financial Strategies Inc. raised its stake in shares of Alphabet by 1.3% in the fourth quarter. Summit Financial Strategies Inc. now owns 322 shares of the information services provider’s stock valued at $933,000 after purchasing an additional 4 shares in the last quarter. Palisades Hudson Asset Management L.P. raised its stake in shares of Alphabet by 1.1% in the fourth quarter. Palisades Hudson Asset Management L.P. now owns 361 shares of the information services provider’s stock valued at $1,046,000 after purchasing an additional 4 shares in the last quarter. AFT Forsyth & Company Inc. raised its stake in shares of Alphabet by 0.3% in the fourth quarter. AFT Forsyth & Company Inc. now owns 1,183 shares of the information services provider’s stock valued at $3,427,000 after purchasing an additional 4 shares in the last quarter. Finally, Bay Harbor Wealth Management LLC raised its stake in shares of Alphabet by 6.8% in the fourth quarter. Bay Harbor Wealth Management LLC now owns 63 shares of the information services provider’s stock valued at $175,000 after purchasing an additional 4 shares in the last quarter. Hedge funds and other institutional investors own 41.70% of the company’s stock.

Alphabet Company Profile

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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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