Alphabet (NASDAQ:GOOGL) PT Raised to $202.00

Alphabet (NASDAQ:GOOGL) had its price target lifted by analysts at Roth Mkm from $164.00 to $202.00 in a research note issued on Friday, Benzinga reports. The firm presently has a “buy” rating on the information services provider’s stock. Roth Mkm’s price objective suggests a potential upside of 17.48% from the stock’s previous close.

Several other analysts have also issued reports on the stock. UBS Group upped their target price on shares of Alphabet from $150.00 to $166.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 16th. Barclays upped their target price on shares of Alphabet from $173.00 to $200.00 and gave the stock an “overweight” rating in a research note on Friday. Needham & Company LLC upped their target price on shares of Alphabet from $160.00 to $210.00 and gave the stock a “buy” rating in a research note on Friday. JMP Securities upped their target price on shares of Alphabet from $160.00 to $200.00 and gave the stock a “market outperform” rating in a research note on Friday. Finally, Truist Financial upped their target price on shares of Alphabet from $170.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday. 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 stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $187.82.

Alphabet Stock Performance

Shares of GOOGL stock opened at $171.95 on Friday. The firm 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 firm 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 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.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Tuesday, January 30th. The information services provider reported $1.64 EPS for the quarter, beating 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 analyst estimates of $70.77 billion. During the same quarter in the previous year, the business posted $1.05 EPS. Analysts forecast that Alphabet will post 6.79 EPS for the current fiscal year.

Insider Transactions at Alphabet

In other news, CAO Amie Thuener O’toole sold 660 shares of the 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 sale, the chief accounting officer now directly owns 27,920 shares of the company’s stock, valued at $4,009,032.80. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, CAO Amie Thuener O’toole sold 660 shares of the 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 sale, the chief accounting officer now directly owns 27,920 shares of the company’s stock, valued at $4,009,032.80. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $146.29, for a total transaction of $3,291,525.00. Following the completion of the sale, the chief executive officer now directly owns 2,377,691 shares in the company, valued at $347,832,416.39. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 253,439 shares of company stock valued at $36,746,578. 0.88% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Tributary Capital Management LLC bought a new position in shares of Alphabet in the first quarter worth approximately $30,000. Vermillion & White Wealth Management Group LLC bought a new position in shares of Alphabet in the fourth quarter worth approximately $30,000. DiNuzzo Private Wealth Inc. bought a new position in shares of Alphabet in the fourth quarter worth approximately $38,000. Richardson Capital Management LLC increased its position in shares of Alphabet by 87.5% in the first quarter. Richardson Capital Management LLC now owns 300 shares of the information services provider’s stock worth $45,000 after purchasing an additional 140 shares during the last quarter. Finally, Meritage Group LP increased its position 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. 40.03% of the stock is currently owned by 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.