Alphabet (NASDAQ:GOOGL) Given New $200.00 Price Target at Raymond James

Alphabet (NASDAQ:GOOGL) had its price target hoisted by Raymond James from $160.00 to $200.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage presently has an “outperform” rating on the information services provider’s stock. Raymond James’ target price suggests a potential upside of 16.31% from the company’s previous close.

A number of other research analysts also recently issued reports on the stock. Stifel Nicolaus lifted their price target on shares of Alphabet from $174.00 to $196.00 and gave the stock a “buy” rating in a research note on Friday. Wedbush boosted their price objective on shares of Alphabet from $175.00 to $205.00 and gave the stock an “outperform” rating in a research report on Friday. UBS Group boosted their price objective on shares of Alphabet from $150.00 to $166.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 16th. Mizuho boosted their price objective on shares of Alphabet from $170.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday. Finally, Redburn Atlantic boosted their price objective on shares of Alphabet from $150.00 to $165.00 and gave the stock a “buy” rating in a research report on Wednesday, January 31st. Five equities research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $187.82.

Alphabet Stock Up 10.2 %

Shares of Alphabet stock opened at $171.95 on Friday. Alphabet has a 52-week low of $103.54 and a 52-week high of $174.71. The company has a 50 day moving average of $147.85 and a 200 day moving average of $141.42. The company has a quick ratio of 2.10, a current ratio of 2.10 and a debt-to-equity ratio of 0.05. The company has a market capitalization of $2.14 trillion, a P/E ratio of 26.37, a P/E/G ratio of 1.43 and a beta of 1.05.

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, topping analysts’ consensus estimates of $1.60 by $0.04. Alphabet had a net margin of 25.90% and a return on equity of 30.01%. The company had revenue of $86.31 billion during the quarter, compared to the consensus estimate of $70.77 billion. During the same quarter in the previous year, the firm earned $1.05 earnings per share. As a group, research analysts forecast that Alphabet will post 6.79 EPS for the current fiscal year.

Insider Transactions at Alphabet

In other news, Director John L. Hennessy sold 2,100 shares of the company’s stock in a transaction on Friday, April 26th. The shares were sold at an average price of $175.76, for a total transaction of $369,096.00. Following the transaction, the director now directly owns 5,891 shares of the company’s stock, valued at approximately $1,035,402.16. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, Director John L. Hennessy sold 2,100 shares of the stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $175.76, for a total value of $369,096.00. Following the sale, the director now directly owns 5,891 shares of the company’s stock, valued at approximately $1,035,402.16. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Ruth Porat sold 48,077 shares of the stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $137.22, for a total transaction of $6,597,125.94. Following the completion of the sale, the chief financial officer now directly owns 1,777,106 shares in the company, valued at $243,854,485.32. The disclosure for this sale can be found here. Insiders have sold a total of 253,439 shares of company stock valued at $36,746,578 in the last ninety days. 0.88% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Alphabet

A number of large investors have recently added to or reduced their stakes in the business. Kellett Wealth Advisors LLC grew its stake in Alphabet by 5.1% in the 1st quarter. Kellett Wealth Advisors LLC now owns 2,688 shares of the information services provider’s stock valued at $406,000 after acquiring an additional 130 shares during the last quarter. Phoenix Wealth Advisors grew its stake in Alphabet by 4.5% in the 1st quarter. Phoenix Wealth Advisors now owns 2,785 shares of the information services provider’s stock valued at $420,000 after acquiring an additional 120 shares during the last quarter. Fonville Wealth Management LLC grew its stake in Alphabet by 6.7% in the 1st quarter. Fonville Wealth Management LLC now owns 1,598 shares of the information services provider’s stock valued at $241,000 after acquiring an additional 100 shares during the last quarter. Finer Wealth Management Inc. lifted its holdings in Alphabet by 4.0% in the 1st quarter. Finer Wealth Management Inc. now owns 36,365 shares of the information services provider’s stock valued at $5,489,000 after purchasing an additional 1,396 shares in the last quarter. Finally, Foster Victor Wealth Advisors LLC lifted its holdings in Alphabet by 4.8% in the 1st quarter. Foster Victor Wealth Advisors LLC now owns 132,521 shares of the information services provider’s stock valued at $21,125,000 after purchasing an additional 6,082 shares in the last quarter. 40.03% of the stock is owned by institutional investors and hedge funds.

About Alphabet

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.