KeyCorp Raises Alphabet (NASDAQ:GOOGL) Price Target to $175.00

Alphabet (NASDAQ:GOOGL) had its target price increased by KeyCorp from $165.00 to $175.00 in a report issued on Monday, Benzinga reports. KeyCorp currently has an overweight rating on the information services provider’s stock.

Several other equities research analysts have also weighed in on GOOGL. Wedbush reissued an outperform rating and set a $175.00 price objective on shares of Alphabet in a research note on Wednesday, April 10th. Wells Fargo & Company reduced their price objective on Alphabet from $144.00 to $141.00 and set an equal weight rating for the company in a research note on Wednesday, April 3rd. Susquehanna raised their price objective on Alphabet from $150.00 to $170.00 and gave the stock a positive rating in a research note on Wednesday, January 31st. JMP Securities reissued a market outperform rating and set a $160.00 price objective on shares of Alphabet in a research note on Wednesday, April 10th. Finally, Jefferies Financial Group raised their price objective on Alphabet from $175.00 to $180.00 and gave the stock a buy rating in a research note on Friday. Five research analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus price target of $158.71.

Alphabet Stock Performance

Shares of NASDAQ GOOGL opened at $156.28 on Monday. The stock has a fifty day moving average price of $146.43 and a two-hundred day moving average price of $140.78. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.10 and a current ratio of 2.10. The firm has a market cap of $1.94 trillion, a P/E ratio of 26.94, a PEG ratio of 1.42 and a beta of 1.05. Alphabet has a 1 year low of $102.63 and a 1 year high of $160.22.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Tuesday, January 30th. The information services provider reported $1.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.60 by $0.04. The firm had revenue of $86.31 billion during the quarter, compared to analyst estimates of $70.77 billion. Alphabet had a return on equity of 27.22% and a net margin of 24.01%. During the same period last year, the company posted $1.05 EPS. Research analysts forecast that Alphabet will post 6.78 EPS for the current fiscal year.

Insider Buying and Selling at Alphabet

In other Alphabet news, Director John L. Hennessy sold 800 shares of the firm’s stock in a transaction dated Friday, April 12th. The stock was sold at an average price of $159.56, for a total transaction of $127,648.00. Following the transaction, the director now directly owns 7,991 shares in the company, valued at $1,275,043.96. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, CAO Amie Thuener O’toole sold 660 shares of Alphabet stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $143.59, for a total value of $94,769.40. Following the transaction, the chief accounting officer now directly owns 27,920 shares in the company, valued at $4,009,032.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John L. Hennessy sold 800 shares of Alphabet stock in a transaction dated Friday, April 12th. The stock was sold at an average price of $159.56, for a total value of $127,648.00. Following the completion of the transaction, the director now owns 7,991 shares in the company, valued at $1,275,043.96. The disclosure for this sale can be found here. Insiders have sold a total of 251,339 shares of company stock worth $36,377,482 over the last three months. Corporate insiders own 0.88% of the company’s stock.

Hedge Funds Weigh In On Alphabet

Institutional investors have recently made changes to their positions in the business. RWQ Financial Management Services Inc. grew its position in Alphabet by 8.2% during the fourth quarter. RWQ Financial Management Services Inc. now owns 61,499 shares of the information services provider’s stock worth $8,591,000 after buying an additional 4,664 shares in the last quarter. Ballast Advisors LLC boosted its holdings in Alphabet by 9.6% during the third quarter. Ballast Advisors LLC now owns 15,747 shares of the information services provider’s stock valued at $2,061,000 after purchasing an additional 1,385 shares in the last quarter. Quantum Financial Advisors LLC boosted its holdings in Alphabet by 8.0% during the third quarter. Quantum Financial Advisors LLC now owns 7,623 shares of the information services provider’s stock valued at $998,000 after purchasing an additional 564 shares in the last quarter. Acadian Asset Management LLC boosted its holdings in Alphabet by 2.4% during the third quarter. Acadian Asset Management LLC now owns 4,416,533 shares of the information services provider’s stock valued at $577,908,000 after purchasing an additional 104,366 shares in the last quarter. Finally, NatWest Group plc boosted its holdings in Alphabet by 239.0% during the fourth quarter. NatWest Group plc now owns 100,793 shares of the information services provider’s stock valued at $14,080,000 after purchasing an additional 71,057 shares in the last quarter. 40.03% of the stock is currently owned by institutional investors.

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, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.