Alphabet (NASDAQ:GOOGL) Price Target Raised to $200.00 at Robert W. Baird

Alphabet (NASDAQ:GOOGL) had its price objective lifted by Robert W. Baird from $160.00 to $200.00 in a report released on Friday, Benzinga reports. The firm presently has an “outperform” rating on the information services provider’s stock. Robert W. Baird’s price objective points to a potential upside of 16.31% from the stock’s current price.

GOOGL has been the topic of several other research reports. Sanford C. Bernstein lifted their price target on shares of Alphabet from $165.00 to $180.00 and gave the stock a “market perform” rating in a research report on Friday. Needham & Company LLC lifted their price objective on shares of Alphabet from $160.00 to $210.00 and gave the stock a “buy” rating in a research report on Friday. Morgan Stanley lifted their price objective on shares of Alphabet from $165.00 to $195.00 and gave the stock an “overweight” rating in a research report on Friday. KeyCorp lifted their price objective on shares of Alphabet from $165.00 to $175.00 and gave the stock an “overweight” rating in a research report on Monday, April 22nd. Finally, BMO Capital Markets reiterated an “outperform” rating and set a $185.00 price objective (up from $178.00) on shares of Alphabet in a research report on Wednesday, April 10th. Five investment analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Alphabet currently has a consensus rating of “Moderate Buy” and an average target price of $187.82.

Alphabet Trading Up 10.2 %

Alphabet stock opened at $171.95 on Friday. 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 $2.14 trillion, a price-to-earnings ratio of 26.37, a price-to-earnings-growth ratio of 1.43 and a beta of 1.05. Alphabet has a 1 year low of $103.54 and a 1 year high of $174.71. The firm’s 50 day moving average price is $147.85 and its two-hundred day moving average price is $141.42.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Tuesday, January 30th. The information services provider reported $1.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.60 by $0.04. The firm had revenue of $86.31 billion for the quarter, compared to analyst estimates of $70.77 billion. Alphabet had a net margin of 25.90% and a return on equity of 30.01%. During the same quarter in the previous year, the business posted $1.05 earnings per share. On average, research analysts predict that Alphabet will post 6.79 EPS for the current fiscal year.

Insider Transactions at Alphabet

In related news, SVP Prabhakar Raghavan sold 3,258 shares of the company’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $155.97, for a total value of $508,150.26. Following the sale, the senior vice president now owns 144,685 shares of the company’s stock, valued at $22,566,519.45. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Alphabet news, CAO Amie Thuener O’toole sold 660 shares of the business’s stock in a transaction dated Thursday, February 1st. The shares were 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 document filed with the SEC, which is available through this link. Also, SVP Prabhakar Raghavan sold 3,258 shares of the business’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $155.97, for a total transaction of $508,150.26. Following the completion of the transaction, the senior vice president now owns 144,685 shares in the company, valued at $22,566,519.45. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 253,439 shares of company stock worth $36,746,578. 0.88% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Alphabet

A number of institutional investors and hedge funds have recently added to or reduced their stakes in GOOGL. Chico Wealth RIA acquired a new position in shares of Alphabet during the third quarter worth approximately $330,000. Summit Global Investments lifted its position in shares of Alphabet by 67.7% during the third quarter. Summit Global Investments now owns 241,463 shares of the information services provider’s stock worth $31,598,000 after purchasing an additional 97,466 shares in the last quarter. Prentice Wealth Management LLC lifted its position in shares of Alphabet by 18.1% during the third quarter. Prentice Wealth Management LLC now owns 7,140 shares of the information services provider’s stock worth $934,000 after purchasing an additional 1,096 shares in the last quarter. Sunflower Bank N.A. lifted its position in shares of Alphabet by 6.3% during the third quarter. Sunflower Bank N.A. now owns 5,951 shares of the information services provider’s stock worth $779,000 after purchasing an additional 353 shares in the last quarter. Finally, David J Yvars Group lifted its position in shares of Alphabet by 10.3% during the third quarter. David J Yvars Group now owns 4,170 shares of the information services provider’s stock worth $546,000 after purchasing an additional 390 shares in the last quarter. 40.03% of the stock is currently 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.