Susquehanna Lowers Alphabet (NASDAQ:GOOG) Price Target to $150.00

Alphabet (NASDAQ:GOOGGet Rating) had its price objective decreased by Susquehanna from $187.00 to $150.00 in a research report sent to investors on Wednesday morning, The Fly reports.

Other research analysts have also recently issued reports about the company. Raymond James lowered their price objective on Alphabet from $159.00 to $143.00 and set a maintains rating on the stock in a research report on Wednesday. Citigroup decreased their target price on Alphabet from $158.75 to $145.00 and set a buy rating on the stock in a research note on Thursday, July 14th. Credit Suisse Group set a $143.00 target price on Alphabet in a research note on Tuesday, July 19th. Cowen decreased their target price on Alphabet from $300.00 to $150.00 in a research note on Monday, July 25th. Finally, Canaccord Genuity Group decreased their target price on Alphabet from $175.00 to $165.00 and set a buy rating on the stock in a research note on Wednesday, April 27th. One research analyst has rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average price target of $157.71.

Alphabet Trading Up 1.8 %

Shares of NASDAQ:GOOG opened at $116.64 on Wednesday. The stock has a market capitalization of $1.54 trillion, a price-to-earnings ratio of 21.10, a PEG ratio of 1.13 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. The stock’s 50-day simple moving average is $155.33 and its two-hundred day simple moving average is $139.20. Alphabet has a 52-week low of $102.21 and a 52-week high of $152.10.

Alphabet (NASDAQ:GOOGGet 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 $26.24 by ($25.03). 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 firm earned $27.26 earnings per share. Analysts expect that Alphabet will post 5.37 EPS for the current year.

Insider Activity at Alphabet

In related news, SVP Prabhakar Raghavan sold 490 shares of the business’s stock in a transaction on 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 completion of the transaction, the senior vice president now owns 497 shares in the company, valued at approximately $1,160,644.10. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, Director Frances Arnold sold 1,230 shares of the business’s stock in a transaction on Friday, July 29th. The stock was sold at an average price of $116.44, for a total transaction of $143,221.20. Following the completion of the transaction, the director now owns 9,230 shares in the company, valued at approximately $1,074,741.20. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Prabhakar Raghavan sold 490 shares of the business’s stock in a transaction on Tuesday, May 3rd. The shares were sold at an average price of $2,335.30, for a total value of $1,144,297.00. Following the transaction, the senior vice president now owns 497 shares of the company’s stock, valued at approximately $1,160,644.10. The disclosure for this sale can be found here. Insiders sold a total of 7,269 shares of company stock worth $12,792,226 in the last quarter. 12.99% of the stock is owned by company insiders.

Institutional Investors Weigh In On Alphabet

Several hedge funds have recently made changes to their positions in the company. Woodward Diversified Capital LLC lifted its holdings in shares of Alphabet by 0.8% in the 4th quarter. Woodward Diversified Capital LLC now owns 509 shares of the information services provider’s stock worth $1,473,000 after buying an additional 4 shares during the period. Valley Brook Capital Group Inc. lifted its holdings in shares of Alphabet by 2.5% in the 4th quarter. Valley Brook Capital Group Inc. now owns 166 shares of the information services provider’s stock worth $480,000 after buying an additional 4 shares during the period. Roffman Miller Associates Inc. PA lifted its holdings in shares of Alphabet by 0.4% in the 4th quarter. Roffman Miller Associates Inc. PA now owns 901 shares of the information services provider’s stock worth $2,607,000 after buying an additional 4 shares during the period. Coyle Financial Counsel LLC lifted its holdings in shares of Alphabet by 1.3% in the 4th quarter. Coyle Financial Counsel LLC now owns 310 shares of the information services provider’s stock worth $897,000 after buying an additional 4 shares during the period. Finally, Hanseatic Management Services Inc. lifted its stake in shares of Alphabet by 1.1% during the 4th quarter. Hanseatic Management Services Inc. now owns 365 shares of the information services provider’s stock worth $1,056,000 after purchasing an additional 4 shares during the last quarter. 31.20% of the stock is currently owned by hedge funds and other institutional investors.

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.

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