Alphabet (NASDAQ:GOOGL) PT Raised to $205.00 at Oppenheimer

Alphabet (NASDAQ:GOOGL) had its target price upped by equities research analysts at Oppenheimer from $185.00 to $205.00 in a report issued on Friday, Benzinga reports. The firm currently has an “outperform” rating on the information services provider’s stock. Oppenheimer’s target price suggests a potential upside of 19.22% from the company’s previous close.

Several other equities analysts have also weighed in on GOOGL. Robert W. Baird raised their target price on Alphabet from $160.00 to $200.00 and gave the company an “outperform” rating in a report on Friday. Stifel Nicolaus raised their target price on Alphabet from $174.00 to $196.00 and gave the company a “buy” rating in a report on Friday. BMO Capital Markets raised their target price on Alphabet from $185.00 to $215.00 and gave the company an “outperform” rating in a report on Friday. Raymond James raised their target price on Alphabet from $160.00 to $200.00 and gave the company an “outperform” rating in a report on Friday. Finally, Jefferies Financial Group raised their target price on Alphabet from $180.00 to $200.00 and gave the company a “buy” rating in a report on Friday. Five analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, Alphabet has an average rating of “Moderate Buy” and an average target price of $187.82.

Alphabet Price Performance

GOOGL opened at $171.95 on Friday. 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 has a 1 year low of $103.54 and a 1 year high of $174.71. 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 stock has a fifty day moving average price of $147.85 and a 200 day moving average price of $141.42.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Tuesday, January 30th. The information services provider reported $1.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.60 by $0.04. The firm had revenue of $86.31 billion during the quarter, compared to analysts’ expectations of $70.77 billion. Alphabet had a return on equity of 30.01% and a net margin of 25.90%. During the same quarter last year, the firm earned $1.05 earnings per share. Analysts forecast that Alphabet will post 6.79 EPS for the current fiscal year.

Insider Buying and Selling at Alphabet

In other news, CFO Ruth Porat sold 48,077 shares of the business’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 transaction, the chief financial officer now directly owns 1,777,106 shares of the company’s stock, valued at approximately $243,854,485.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, SVP Prabhakar Raghavan sold 3,258 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $155.97, for a total value of $508,150.26. Following the transaction, the senior vice president now directly owns 144,685 shares of the company’s stock, valued at approximately $22,566,519.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Ruth Porat sold 48,077 shares of the business’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 completion of the transaction, the chief financial officer now directly owns 1,777,106 shares in the company, valued at $243,854,485.32. 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 and hedge funds have recently modified their holdings of the business. Chico Wealth RIA bought a new position in Alphabet in the 3rd quarter worth approximately $330,000. Summit Global Investments raised its position in Alphabet by 67.7% in the 3rd 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 during the last quarter. Prentice Wealth Management LLC raised its position in Alphabet by 18.1% in the 3rd 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 during the last quarter. Sunflower Bank N.A. raised its position in shares of Alphabet by 6.3% during the 3rd quarter. Sunflower Bank N.A. now owns 5,951 shares of the information services provider’s stock valued at $779,000 after acquiring an additional 353 shares during the last quarter. Finally, David J Yvars Group raised its position in shares of Alphabet by 10.3% during the 3rd quarter. David J Yvars Group now owns 4,170 shares of the information services provider’s stock valued at $546,000 after acquiring an additional 390 shares during the last quarter. 40.03% of the stock is 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.