Alphabet (NASDAQ:GOOGL) Price Target Cut to $132.00

Alphabet (NASDAQ:GOOGLGet Rating) had its price objective cut by equities researchers at JMP Securities from $145.00 to $132.00 in a research note issued to investors on Wednesday, The Fly reports. JMP Securities’ target price would suggest a potential upside of 34.06% from the stock’s current price.

Several other research analysts have also weighed in on GOOGL. Robert W. Baird dropped their target price on Alphabet to $120.00 in a research report on Thursday, October 27th. Morgan Stanley dropped their target price on Alphabet from $125.00 to $120.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 15th. StockNews.com began coverage on Alphabet in a research report on Wednesday, October 12th. They issued a “hold” rating on the stock. Wells Fargo & Company dropped their target price on Alphabet from $160.00 to $145.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 26th. Finally, Evercore ISI dropped their target price on Alphabet from $140.00 to $130.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 26th. Five research analysts have rated the stock with a hold rating, thirty have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $133.90.

Alphabet Trading Up 1.5 %

Shares of NASDAQ GOOGL opened at $98.46 on Wednesday. Alphabet has a 12 month low of $83.34 and a 12 month high of $151.55. The company has a market cap of $1.27 trillion, a price-to-earnings ratio of 19.55, a P/E/G ratio of 1.84 and a beta of 1.05. The company has a quick ratio of 2.47, a current ratio of 2.52 and a debt-to-equity ratio of 0.06. The business has a fifty day simple moving average of $97.11 and a 200-day simple moving average of $107.37.

Alphabet (NASDAQ:GOOGLGet Rating) last announced its earnings results on Tuesday, October 25th. The information services provider reported $1.06 EPS for the quarter, missing the consensus estimate of $1.25 by ($0.19). The company had revenue of $57.27 billion for the quarter, compared to analysts’ expectations of $58.36 billion. Alphabet had a net margin of 23.75% and a return on equity of 26.41%. During the same period in the prior year, the company earned $1.40 earnings per share. Sell-side analysts predict that Alphabet will post 4.68 EPS for the current year.

Insiders Place Their Bets

In other Alphabet news, Director John L. Hennessy sold 1,500 shares of Alphabet stock in a transaction dated Friday, September 9th. The stock was sold at an average price of $110.00, for a total transaction of $165,000.00. Following the transaction, the director now directly owns 33,260 shares in the company, valued at $3,658,600. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Alphabet news, Director John L. Hennessy sold 1,500 shares of Alphabet stock in a transaction dated Friday, September 9th. The stock was sold at an average price of $110.00, for a total transaction of $165,000.00. Following the transaction, the director now directly owns 33,260 shares in the company, valued at $3,658,600. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CAO Amie Thuener O’toole sold 855 shares of Alphabet stock in a transaction dated Tuesday, October 4th. The shares were sold at an average price of $101.04, for a total value of $86,389.20. Following the completion of the sale, the chief accounting officer now directly owns 24,480 shares in the company, valued at approximately $2,473,459.20. The disclosure for this sale can be found here. Over the last ninety days, insiders have acquired 1,461,702 shares of company stock worth $36,999,217 and have sold 302,441 shares worth $20,007,551. Corporate insiders own 11.44% of the company’s stock.

Institutional Trading of Alphabet

Several hedge funds and other institutional investors have recently modified their holdings of GOOGL. IAG Wealth Partners LLC increased its position in Alphabet by 3,275.0% during the third quarter. IAG Wealth Partners LLC now owns 270 shares of the information services provider’s stock worth $26,000 after buying an additional 262 shares during the last quarter. Artemis Wealth Advisors LLC boosted its stake in shares of Alphabet by 1,900.0% in the third quarter. Artemis Wealth Advisors LLC now owns 280 shares of the information services provider’s stock valued at $27,000 after buying an additional 266 shares during the period. Dravo Bay LLC bought a new stake in shares of Alphabet in the first quarter valued at approximately $28,000. Laurel Wealth Planning LLC boosted its stake in shares of Alphabet by 1,900.0% in the third quarter. Laurel Wealth Planning LLC now owns 300 shares of the information services provider’s stock valued at $29,000 after buying an additional 285 shares during the period. Finally, Coston McIsaac & Partners boosted its stake in shares of Alphabet by 1,900.0% in the third quarter. Coston McIsaac & Partners now owns 320 shares of the information services provider’s stock valued at $30,000 after buying an additional 304 shares during the period. Institutional investors and hedge funds own 1.88% 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.

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