Alphabet (NASDAQ:GOOGL) PT Raised to $168.00

Alphabet (NASDAQ:GOOGL) had its target price lifted by equities research analysts at Wells Fargo & Company from $141.00 to $168.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm currently has an “equal weight” rating on the information services provider’s stock. Wells Fargo & Company‘s price objective suggests a potential downside of 2.30% from the stock’s previous close.

Several other equities research analysts have also issued reports on the company. Barclays lifted their price target on Alphabet from $173.00 to $200.00 and gave the stock an “overweight” rating in a research note on Friday. Susquehanna lifted their price target on Alphabet from $150.00 to $170.00 and gave the stock a “positive” rating in a research note on Wednesday, January 31st. JMP Securities lifted their price target on Alphabet from $160.00 to $200.00 and gave the stock a “market outperform” rating in a research note on Friday. Evercore ISI lifted their price target on Alphabet from $160.00 to $220.00 and gave the stock an “outperform” rating in a research note on Friday. Finally, Redburn Atlantic lifted their price target on Alphabet from $150.00 to $165.00 and gave the stock a “buy” rating in a research note on Wednesday, January 31st. 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 company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $187.82.

Alphabet Price Performance

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 business has a 50-day simple moving average of $147.85 and a 200 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. The stock has a market cap of $2.14 trillion, a price-to-earnings ratio of 26.37, a PEG ratio of 1.43 and a beta of 1.05.

Alphabet (NASDAQ:GOOGL) last posted its earnings results 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. 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 analysts’ expectations of $70.77 billion. During the same period in the previous year, the business earned $1.05 earnings per share. On average, research analysts forecast that Alphabet will post 6.79 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director John L. Hennessy sold 2,100 shares of the company’s stock in a transaction that occurred 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 in the company, valued at approximately $1,035,402.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CFO Ruth Porat sold 48,077 shares of the company’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $137.22, for a total value of $6,597,125.94. Following the sale, the chief financial officer now owns 1,777,106 shares in the company, valued at approximately $243,854,485.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director John L. Hennessy sold 2,100 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the director now owns 5,891 shares in the company, valued at approximately $1,035,402.16. The disclosure for this sale can be found here. In the last quarter, insiders have sold 253,439 shares of company stock worth $36,746,578. Company insiders own 0.88% of the company’s stock.

Institutional Trading of Alphabet

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Kellett Wealth Advisors LLC grew its stake in Alphabet by 5.1% during 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 in the last quarter. Phoenix Wealth Advisors grew its stake in Alphabet by 4.5% during 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 in the last quarter. Fonville Wealth Management LLC grew its stake in shares of 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 buying an additional 100 shares during the period. Finer Wealth Management Inc. grew its stake in shares of 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 buying an additional 1,396 shares during the period. Finally, Foster Victor Wealth Advisors LLC grew its stake in shares of 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 buying an additional 6,082 shares during the period. Hedge funds and other institutional investors own 40.03% of the company’s stock.

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.