Canaccord Genuity Group Raises Alphabet (NASDAQ:GOOGL) Price Target to $210.00

Alphabet (NASDAQ:GOOGL) had its price target increased by analysts at Canaccord Genuity Group from $190.00 to $210.00 in a research report issued on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the information services provider’s stock. Canaccord Genuity Group’s price target points to a potential upside of 22.13% from the company’s previous close.

Other equities analysts also recently issued research reports about the stock. Wedbush increased their price target on shares of Alphabet from $175.00 to $205.00 and gave the company an “outperform” rating in a report on Friday. Robert W. Baird increased their price target on shares of Alphabet from $160.00 to $200.00 and gave the company an “outperform” rating in a report on Friday. JMP Securities increased their price target on shares of Alphabet from $160.00 to $200.00 and gave the company a “market outperform” rating in a report on Friday. Evercore ISI raised their target price on shares of Alphabet from $160.00 to $220.00 and gave the company an “outperform” rating in a report on Friday. Finally, BMO Capital Markets restated an “outperform” rating and set a $185.00 target price (up from $178.00) on shares of Alphabet in a report on Wednesday, April 10th. 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 stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $187.82.

Alphabet Stock Up 10.2 %

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

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results 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 business had revenue of $86.31 billion during the quarter, compared to the consensus estimate of $70.77 billion. Alphabet had a net margin of 25.90% and a return on equity of 30.01%. During the same quarter last year, the firm posted $1.05 EPS. On average, analysts forecast that Alphabet will post 6.79 earnings per share for the current year.

Insider Buying and Selling at Alphabet

In other Alphabet news, Director Frances Arnold sold 230 shares of Alphabet stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $154.06, for a total transaction of $35,433.80. Following the transaction, the director now directly owns 15,104 shares of the company’s stock, valued at $2,326,922.24. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, SVP Prabhakar Raghavan sold 3,258 shares of Alphabet stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $155.97, for a total transaction of $508,150.26. Following the sale, the senior vice president now owns 144,685 shares in the company, valued at $22,566,519.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Frances Arnold sold 230 shares of Alphabet stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $154.06, for a total transaction of $35,433.80. Following the sale, the director now owns 15,104 shares in the company, valued at approximately $2,326,922.24. The disclosure for this sale can be found here. Insiders have sold a total of 253,439 shares of company stock valued at $36,746,578 over the last ninety days. Corporate insiders own 0.88% of the company’s stock.

Institutional Trading of Alphabet

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Kellett Wealth Advisors LLC increased its stake in shares of Alphabet by 5.1% in the first quarter. Kellett Wealth Advisors LLC now owns 2,688 shares of the information services provider’s stock worth $406,000 after buying an additional 130 shares during the last quarter. Phoenix Wealth Advisors increased its stake in shares of Alphabet by 4.5% in the first quarter. Phoenix Wealth Advisors now owns 2,785 shares of the information services provider’s stock worth $420,000 after buying an additional 120 shares during the last quarter. Fonville Wealth Management LLC increased its stake in Alphabet by 6.7% during the first quarter. Fonville Wealth Management LLC now owns 1,598 shares of the information services provider’s stock valued at $241,000 after purchasing an additional 100 shares during the last quarter. Finer Wealth Management Inc. increased its stake in Alphabet by 4.0% during the first quarter. Finer Wealth Management Inc. now owns 36,365 shares of the information services provider’s stock valued at $5,489,000 after purchasing an additional 1,396 shares during the last quarter. Finally, Foster Victor Wealth Advisors LLC increased its stake in Alphabet by 4.8% during the first quarter. Foster Victor Wealth Advisors LLC now owns 132,521 shares of the information services provider’s stock valued at $21,125,000 after purchasing an additional 6,082 shares during the last quarter. 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.