Alphabet (NASDAQ:GOOGL) Price Target Lowered to $140.00 at Credit Suisse Group

Alphabet (NASDAQ:GOOGL – Get Rating) had its target price cut by stock analysts at Credit Suisse Group from $143.00 to $140.00 in a report released on Wednesday, MarketBeat.com reports. The brokerage currently has an “outperform” rating on the information services provider’s stock. Credit Suisse Group’s price target suggests a potential upside of 22.57% from the stock’s previous close.

Other analysts have also recently issued reports about the stock. Wells Fargo & Company decreased their price target on shares of Alphabet from $180.00 to $170.00 in a research note on Wednesday, April 27th. JPMorgan Chase & Co. decreased their price target on shares of Alphabet from $160.00 to $140.00 and set an “overweight” rating on the stock in a research note on Wednesday, June 29th. Wolfe Research decreased their price target on shares of Alphabet from $175.00 to $145.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 27th. Jefferies Financial Group decreased their price target on shares of Alphabet from $170.00 to $155.00 in a research note on Tuesday, May 24th. Finally, JMP Securities decreased their price target on shares of Alphabet from $165.00 to $160.00 and set a “market outperform” rating on the stock in a research note on Thursday, June 30th. Five research analysts have rated the stock with a hold rating, thirty-four have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Alphabet has an average rating of “Moderate Buy” and an average target price of $148.80.

Alphabet Price Performance

Shares of Alphabet stock opened at $114.22 on Wednesday. The company has a current ratio of 2.87, a quick ratio of 2.85 and a debt-to-equity ratio of 0.06. The stock has a market capitalization of $1.50 trillion, a price-to-earnings ratio of 20.66, a P/E/G ratio of 1.12 and a beta of 1.10. Alphabet has a 1-year low of $101.88 and a 1-year high of $151.55. The firm’s 50-day moving average price is $154.31 and its two-hundred day moving average price is $138.90.

Alphabet (NASDAQ:GOOGL – Get Rating) last issued its quarterly earnings data on Tuesday, July 26th. The information services provider reported $1.21 earnings per share 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 prior year, the firm earned $27.26 EPS. On average, equities analysts predict that Alphabet will post 5.37 earnings per share for the current fiscal year.

Insider Buying and Selling at Alphabet

In other Alphabet news, major shareholder 2021 Gp L.L.C. Gv purchased 255,647 shares of the stock in a transaction on Tuesday, May 10th. The shares were purchased at an average cost of $34.65 per share, for a total transaction of $8,858,168.55. Following the purchase, 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 can be accessed through this hyperlink. In other news, CAO Amie Thuener O’toole sold 42 shares of Alphabet stock in a transaction dated 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 completion of the transaction, the chief accounting officer now owns 1,170 shares of the company’s stock, valued at approximately $2,732,301. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, major shareholder 2021 Gp L.L.C. Gv acquired 255,647 shares of the firm’s stock in a transaction dated Tuesday, May 10th. The stock was purchased at an average cost of $34.65 per share, with a total value of $8,858,168.55. Following the transaction, the insider now owns 479,695 shares in the company, valued at $16,621,431.75. The disclosure for this purchase can be found here. In the last three months, insiders have sold 6,039 shares of company stock worth $12,649,005. Insiders own 11.44% of the company’s stock.

Institutional Trading of Alphabet

Hedge funds and other institutional investors have recently modified their holdings of the stock. Dravo Bay LLC bought a new stake in shares of Alphabet during the 1st quarter worth about $28,000. Morling Financial Advisors LLC acquired a new stake in Alphabet in the 4th quarter worth about $29,000. West Bancorporation Inc. acquired a new stake in Alphabet in the 4th quarter worth about $29,000. Financial Enhancement Group LLC acquired a new stake in Alphabet in the 1st quarter worth about $31,000. Finally, Wealthgate Family Office LLC acquired a new stake in Alphabet in the 4th quarter worth about $32,000. Institutional investors own 41.70% of the company’s stock.

About Alphabet

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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.