Alphabet (NASDAQ:GOOGL) Price Target Raised to $200.00 at Royal Bank of Canada

Alphabet (NASDAQ:GOOGL) had its price target raised by analysts at Royal Bank of Canada from $155.00 to $200.00 in a research note issued on Friday, Benzinga reports. The brokerage presently has an “outperform” rating on the information services provider’s stock. Royal Bank of Canada’s target price suggests a potential upside of 16.31% from the stock’s current price.

Several other equities research analysts have also commented on the company. Morgan Stanley upped their price objective on Alphabet from $165.00 to $195.00 and gave the stock an “overweight” rating in a research note on Friday. Redburn Atlantic upped their price objective on Alphabet from $150.00 to $165.00 and gave the stock a “buy” rating in a research note on Wednesday, January 31st. KeyCorp upped their price objective on Alphabet from $165.00 to $175.00 and gave the stock an “overweight” rating in a research note on Monday, April 22nd. Canaccord Genuity Group upped their price objective on Alphabet from $190.00 to $210.00 and gave the stock a “buy” rating in a research note on Friday. Finally, Susquehanna upped their target price on shares of Alphabet from $150.00 to $170.00 and gave the stock a “positive” rating in a report on Wednesday, January 31st. Five investment 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 stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $187.82.

Alphabet Price Performance

Shares of GOOGL opened at $171.95 on Friday. The firm has a market cap of $2.14 trillion, a PE ratio of 26.37, a P/E/G ratio of 1.43 and a beta of 1.05. The company has a current ratio of 2.10, a quick ratio of 2.10 and a debt-to-equity ratio of 0.05. The firm has a fifty day simple moving average of $147.85 and a two-hundred day simple moving average of $141.42. Alphabet has a 1-year low of $103.54 and a 1-year high of $174.71.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data on Tuesday, January 30th. The information services provider reported $1.64 EPS for the quarter, topping the consensus estimate 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 30.01% and a net margin of 25.90%. During the same period in the prior year, the business posted $1.05 EPS. On average, equities analysts anticipate that Alphabet will post 6.79 EPS for the current year.

Insider Activity

In related news, Director Frances Arnold sold 230 shares of the stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $154.06, for a total value of $35,433.80. Following the sale, the director now directly owns 15,104 shares of the company’s stock, valued at approximately $2,326,922.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Frances Arnold sold 230 shares of the stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $154.06, for a total value of $35,433.80. Following the sale, the director now directly owns 15,104 shares of the company’s stock, valued at approximately $2,326,922.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Amie Thuener O’toole sold 660 shares of the stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $143.59, for a total transaction of $94,769.40. Following the completion of the sale, the chief accounting officer now directly owns 27,920 shares in the company, valued at $4,009,032.80. The disclosure for this sale can be found here. In the last three months, insiders have sold 253,439 shares of company stock worth $36,746,578. 0.88% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Alphabet

Institutional investors have recently modified their holdings of the stock. Vermillion & White Wealth Management Group LLC purchased a new position in shares of Alphabet during the fourth quarter worth approximately $30,000. Tributary Capital Management LLC purchased a new position in shares of Alphabet during the first quarter worth approximately $30,000. DiNuzzo Private Wealth Inc. purchased a new position in shares of Alphabet during the fourth quarter worth approximately $38,000. Meritage Group LP increased its position in shares of Alphabet by 1,061.5% during the third quarter. Meritage Group LP now owns 302 shares of the information services provider’s stock worth $40,000 after acquiring an additional 276 shares during the period. Finally, Macroview Investment Management LLC increased its position in shares of Alphabet by 165.8% during the third quarter. Macroview Investment Management LLC now owns 319 shares of the information services provider’s stock worth $42,000 after acquiring an additional 199 shares during the period. 40.03% of the stock is owned by hedge funds and other 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.