Alphabet (NASDAQ:GOOGL) PT Raised to $129.00 at Wells Fargo & Company

Alphabet (NASDAQ:GOOGL) had its price objective boosted by research analysts at Wells Fargo & Company from $126.00 to $129.00 in a research note issued on Thursday, Benzinga reports. The firm currently has an “equal weight” rating on the information services provider’s stock. Wells Fargo & Company‘s price objective points to a potential downside of 4.66% from the stock’s current price.

A number of other brokerages also recently commented on GOOGL. JPMorgan Chase & Co. lifted their price objective on Alphabet from $121.00 to $150.00 in a research report on Wednesday, July 26th. Monness Crespi & Hardt cut Alphabet from a “buy” rating to a “neutral” rating in a research note on Wednesday, October 25th. Roth Mkm boosted their price objective on Alphabet from $146.00 to $152.00 and gave the stock a “buy” rating in a research note on Wednesday, October 25th. Sanford C. Bernstein boosted their price objective on Alphabet from $130.00 to $135.00 in a research note on Wednesday, July 26th. Finally, Stifel Nicolaus boosted their price objective on Alphabet from $130.00 to $135.00 and gave the stock a “buy” rating in a research note on Friday, July 21st. Five equities research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Alphabet has a consensus rating of “Moderate Buy” and an average target price of $147.00.

Alphabet Stock Performance

Alphabet stock opened at $135.31 on Thursday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.01 and a current ratio of 2.04. The stock has a fifty day moving average of $133.44 and a two-hundred day moving average of $127.34. The company has a market capitalization of $1.69 trillion, a price-to-earnings ratio of 25.97, a PEG ratio of 1.51 and a beta of 1.05. Alphabet has a fifty-two week low of $84.86 and a fifty-two week high of $141.22.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Tuesday, October 24th. The information services provider reported $1.55 earnings per share for the quarter, topping the consensus estimate of $1.45 by $0.10. The company had revenue of $64.05 billion during the quarter, compared to the consensus estimate of $63.13 billion. Alphabet had a return on equity of 25.24% and a net margin of 22.46%. On average, analysts anticipate that Alphabet will post 5.74 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director John L. Hennessy sold 200 shares of the stock in a transaction on Friday, November 10th. The stock was sold at an average price of $132.92, for a total transaction of $26,584.00. Following the completion of the sale, the director now owns 7,184 shares in the company, valued at approximately $954,897.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Alphabet news, SVP Prabhakar Raghavan sold 16,083 shares of the business’s stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $133.82, for a total transaction of $2,152,227.06. Following the sale, the senior vice president now directly owns 75,621 shares of the company’s stock, valued at approximately $10,119,602.22. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director John L. Hennessy sold 200 shares of the business’s stock in a transaction on Friday, November 10th. The shares were sold at an average price of $132.92, for a total transaction of $26,584.00. Following the sale, the director now directly owns 7,184 shares in the company, valued at $954,897.28. The disclosure for this sale can be found here. Insiders sold 176,576 shares of company stock worth $23,425,367 over the last ninety days. Company insiders own 0.88% of the company’s stock.

Hedge Funds Weigh In On Alphabet

A number of hedge funds have recently modified their holdings of the stock. Modera Wealth Management LLC increased its position in Alphabet by 11.4% during the first quarter. Modera Wealth Management LLC now owns 43,230 shares of the information services provider’s stock worth $4,484,000 after buying an additional 4,420 shares during the last quarter. Atria Investments Inc boosted its holdings in Alphabet by 7.4% during the first quarter. Atria Investments Inc now owns 316,800 shares of the information services provider’s stock valued at $32,918,000 after acquiring an additional 21,907 shares during the period. Cadent Capital Advisors LLC boosted its holdings in Alphabet by 3.4% during the second quarter. Cadent Capital Advisors LLC now owns 4,158 shares of the information services provider’s stock valued at $498,000 after acquiring an additional 136 shares during the period. Hallmark Capital Management Inc. boosted its holdings in Alphabet by 8.9% during the first quarter. Hallmark Capital Management Inc. now owns 167,148 shares of the information services provider’s stock valued at $17,338,000 after acquiring an additional 13,605 shares during the period. Finally, Soltis Investment Advisors LLC boosted its holdings in Alphabet by 17.1% during the first quarter. Soltis Investment Advisors LLC now owns 46,675 shares of the information services provider’s stock valued at $4,842,000 after acquiring an additional 6,825 shares during the period. 35.08% of the stock is owned by institutional investors and hedge funds.

Alphabet Company Profile

Alphabet Inc offers 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 provides products and services, including ads, Android, Chrome, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.