Alphabet (NASDAQ:GOOGL) Price Target Raised to $220.00 at Evercore ISI

Alphabet (NASDAQ:GOOGL) had its price target hoisted by investment analysts at Evercore ISI from $160.00 to $220.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm presently has an “outperform” rating on the information services provider’s stock. Evercore ISI’s target price indicates a potential upside of 27.94% from the stock’s previous close.

Other equities research analysts also recently issued research reports about the stock. Roth Mkm cut their target price on shares of Alphabet from $166.00 to $164.00 and set a “buy” rating for the company in a research report on Wednesday, January 31st. Jefferies Financial Group lifted their price target on shares of Alphabet from $175.00 to $180.00 and gave the stock a “buy” rating in a research note on Friday, April 19th. Truist Financial lifted their price target on shares of Alphabet from $158.00 to $170.00 and gave the stock a “buy” rating in a research note on Wednesday, April 17th. Citigroup lifted their price target on shares of Alphabet from $168.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday. Finally, Wells Fargo & Company dropped their price target on shares of Alphabet from $144.00 to $141.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 3rd. Five 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 MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $187.82.

Alphabet Trading Up 10.2 %

NASDAQ:GOOGL opened at $171.95 on Friday. The company has a current ratio of 2.10, a quick ratio of 2.10 and a debt-to-equity ratio of 0.05. Alphabet has a 12 month low of $103.54 and a 12 month high of $174.71. The company has a market cap 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 company has a 50 day simple moving average of $147.85 and a two-hundred day simple moving average of $141.42.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Tuesday, January 30th. The information services provider reported $1.64 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 business 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 posted $1.05 EPS. Research analysts forecast that Alphabet will post 6.79 earnings per share for the current year.

Insider Transactions at Alphabet

In other news, Director John L. Hennessy sold 2,100 shares of the business’s 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 in the company, valued at approximately $1,035,402.16. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, Director John L. Hennessy sold 2,100 shares of the business’s 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 in the company, valued at approximately $1,035,402.16. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Ruth Porat sold 48,077 shares of the business’s stock in a transaction dated Friday, March 8th. The stock was 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 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 worth $36,746,578 in the last three months. Insiders own 0.88% of the company’s stock.

Institutional Trading of Alphabet

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GOOGL. Vermillion & White Wealth Management Group LLC purchased a new position in Alphabet during the 4th quarter valued at $30,000. Tributary Capital Management LLC bought a new stake in shares of Alphabet during the first quarter worth $30,000. DiNuzzo Private Wealth Inc. purchased a new stake in shares of Alphabet during the fourth quarter valued at $38,000. Meritage Group LP grew its holdings in shares of Alphabet by 1,061.5% in the third quarter. Meritage Group LP now owns 302 shares of the information services provider’s stock worth $40,000 after purchasing an additional 276 shares during the last quarter. Finally, Macroview Investment Management LLC increased its stake in Alphabet by 165.8% in the 3rd quarter. Macroview Investment Management LLC now owns 319 shares of the information services provider’s stock worth $42,000 after buying an additional 199 shares during the period. 40.03% of the stock is owned by hedge funds and other institutional investors.

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.