Oppenheimer Cuts Alphabet (NASDAQ:GOOGL) Price Target to $155.00

Alphabet (NASDAQ:GOOGLGet Rating) had its price target lowered by Oppenheimer to $155.00 in a research note published on Wednesday, Stock Target Advisor reports. Oppenheimer currently has an outperform rating on the information services provider’s stock.

GOOGL has been the topic of a number of other research reports. Susquehanna Bancshares lowered their price target on Alphabet from $187.50 to $150.00 and set a positive rating on the stock in a research report on Wednesday. Wedbush lowered their price target on Alphabet from $190.00 to $155.65 in a research report on Wednesday, April 27th. Evercore ISI lowered their price target on Alphabet from $155.50 to $140.00 and set an outperform rating on the stock in a research report on Wednesday. Itau BBA Securities began coverage on Alphabet in a research report on Tuesday. They set a market perform rating and a $113.00 price target on the stock. Finally, UBS Group lowered their price target on Alphabet from $133.00 to $132.00 and set a buy rating on the stock in a research report on Wednesday. Five analysts have rated the stock with a hold rating, thirty-five have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Alphabet currently has a consensus rating of Moderate Buy and a consensus target price of $149.08.

Alphabet Trading Up 7.7 %

Shares of GOOGL stock opened at $113.06 on Wednesday. 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 has a 52-week low of $101.88 and a 52-week high of $151.55. The company 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 business’s fifty day moving average is $154.24 and its 200 day moving average is $139.07.

Alphabet (NASDAQ:GOOGLGet Rating) last issued its quarterly earnings data on Tuesday, July 26th. The information services provider reported $1.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 period in the previous year, the company posted $27.26 earnings per share. On average, equities research analysts anticipate that Alphabet will post 5.37 EPS for the current fiscal year.

Insider Buying and Selling at Alphabet

In other Alphabet news, major shareholder 2021 Gp L.L.C. Gv bought 255,647 shares of the stock in a transaction dated Tuesday, May 10th. The stock was purchased at an average cost 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 $16,621,431.75. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Alphabet news, major shareholder 2021 Gp L.L.C. Gv bought 255,647 shares of the stock in a transaction dated Tuesday, May 10th. The stock was purchased at an average cost 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 $16,621,431.75. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Amie Thuener O’toole sold 42 shares of Alphabet 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 transaction of $98,082.60. Following the transaction, the chief accounting officer now owns 1,170 shares of the company’s stock, valued at $2,732,301. The disclosure for this sale can be found here. In the last three months, insiders have sold 6,039 shares of company stock valued at $12,649,005. 11.44% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Alphabet

A number of hedge funds have recently added to or reduced their stakes in GOOGL. Amplius Wealth Advisors LLC purchased a new stake in Alphabet during the 4th quarter valued at $1,422,000. International Assets Investment Management LLC raised its stake in Alphabet by 6.1% during the 4th quarter. International Assets Investment Management LLC now owns 3,356 shares of the information services provider’s stock valued at $9,717,000 after buying an additional 192 shares during the last quarter. Relyea Zuckerberg Hanson LLC raised its stake in Alphabet by 12.7% during the 4th quarter. Relyea Zuckerberg Hanson LLC now owns 470 shares of the information services provider’s stock valued at $1,225,000 after buying an additional 53 shares during the last quarter. Capital Advisors Inc. OK raised its stake in Alphabet by 2.9% during the 4th quarter. Capital Advisors Inc. OK now owns 1,033 shares of the information services provider’s stock valued at $2,993,000 after buying an additional 29 shares during the last quarter. Finally, Asset Advisors Investment Management LLC grew its position in shares of Alphabet by 0.4% during the 4th quarter. Asset Advisors Investment Management LLC now owns 6,129 shares of the information services provider’s stock valued at $17,756,000 after acquiring an additional 25 shares during the period. 41.70% of the stock is currently owned by hedge funds and other institutional investors.

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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