Alphabet (NASDAQ:GOOGL) Price Target Raised to $180.00 at Sanford C. Bernstein

Alphabet (NASDAQ:GOOGL) had its target price lifted by equities research analysts at Sanford C. Bernstein from $165.00 to $180.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage currently has a “market perform” rating on the information services provider’s stock. Sanford C. Bernstein’s price objective suggests a potential upside of 4.68% from the company’s current price.

A number of other analysts also recently issued reports on the company. Redburn Atlantic raised their price objective on Alphabet from $150.00 to $165.00 and gave the stock a “buy” rating in a research report on Wednesday, January 31st. UBS Group raised their price objective on Alphabet from $150.00 to $166.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 16th. Canaccord Genuity Group raised their price objective on Alphabet from $180.00 to $190.00 and gave the stock a “buy” rating in a research report on Wednesday, April 17th. KeyCorp raised their price objective on Alphabet from $165.00 to $175.00 and gave the stock an “overweight” rating in a research report on Monday, April 22nd. Finally, Wedbush reissued an “outperform” rating and set a $175.00 price objective on shares of Alphabet in a research report on Wednesday, April 10th. Five research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Alphabet has an average rating of “Moderate Buy” and an average price target of $187.82.

Alphabet Stock Up 10.2 %

Shares of GOOGL 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 market capitalization of $2.14 trillion, a PE ratio of 26.37, a price-to-earnings-growth ratio of 1.43 and a beta of 1.05. The stock has a fifty day simple moving average of $147.85 and a two-hundred day simple 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.

Alphabet (NASDAQ:GOOGL) last issued its 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 return on equity of 30.01% and a net margin of 25.90%. The business had revenue of $86.31 billion during the quarter, compared to the consensus estimate of $70.77 billion. During the same period last year, the company earned $1.05 EPS. As a group, equities analysts forecast that Alphabet will post 6.79 EPS for the current year.

Insider Buying and Selling at Alphabet

In other Alphabet news, Director John L. Hennessy sold 2,100 shares of the company’s stock in a transaction on Friday, April 26th. The stock was sold at an average price of $175.76, for a total value of $369,096.00. Following the sale, the director now owns 5,891 shares of the company’s stock, valued at $1,035,402.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director John L. Hennessy sold 2,100 shares of the stock in a transaction on Friday, April 26th. The stock was sold at an average price of $175.76, for a total transaction of $369,096.00. Following the sale, the director now owns 5,891 shares of the company’s stock, valued at $1,035,402.16. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CAO Amie Thuener O’toole sold 660 shares of the stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $143.59, for a total value of $94,769.40. Following the sale, the chief accounting officer now directly owns 27,920 shares in the company, valued at approximately $4,009,032.80. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 253,439 shares of company stock valued at $36,746,578. Insiders own 0.88% of the company’s stock.

Institutional Trading of Alphabet

Hedge funds have recently added to or reduced their stakes in the business. Tributary Capital Management LLC acquired a new stake in Alphabet in the 1st quarter worth about $30,000. Vermillion & White Wealth Management Group LLC acquired a new stake in Alphabet in the 4th quarter worth about $30,000. DiNuzzo Private Wealth Inc. acquired a new stake in Alphabet in the 4th quarter worth about $38,000. Richardson Capital Management LLC boosted its stake in Alphabet by 87.5% in the 1st quarter. Richardson Capital Management LLC now owns 300 shares of the information services provider’s stock worth $45,000 after buying an additional 140 shares during the last quarter. Finally, Meritage Group LP boosted its stake in Alphabet by 1,061.5% in the 3rd quarter. Meritage Group LP now owns 302 shares of the information services provider’s stock worth $40,000 after buying an additional 276 shares during 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.