Rosenblatt Securities Boosts Alphabet (NASDAQ:GOOGL) Price Target to $182.00

Alphabet (NASDAQ:GOOGL) had its price target raised by research analysts at Rosenblatt Securities from $172.00 to $182.00 in a report released on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the information services provider’s stock. Rosenblatt Securities’ price objective points to a potential upside of 5.84% from the stock’s previous close.

Several other research analysts also recently weighed in on GOOGL. Wolfe Research upped their price target on Alphabet from $170.00 to $180.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 31st. Mizuho upped their price target on Alphabet from $155.00 to $170.00 and gave the stock a “buy” rating in a research note on Wednesday, January 17th. Barclays dropped their price target on Alphabet from $180.00 to $173.00 and set an “overweight” rating for the company in a research note on Wednesday, January 31st. Jefferies Financial Group upped their price target on Alphabet from $175.00 to $180.00 and gave the stock a “buy” rating in a research note on Friday, April 19th. Finally, Truist Financial upped their price target on Alphabet from $158.00 to $170.00 and gave the stock a “buy” rating in a research note on Wednesday, April 17th. Five analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $187.82.

Alphabet Trading Up 10.2 %

Shares of NASDAQ:GOOGL opened at $171.95 on Friday. The stock has a 50 day moving average of $147.85 and a 200 day moving average of $141.42. 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 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 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 company had revenue of $86.31 billion during the quarter, compared to the consensus estimate of $70.77 billion. Alphabet had a return on equity of 30.01% and a net margin of 25.90%. During the same period in the previous year, the company posted $1.05 EPS. As a group, equities research analysts expect that Alphabet will post 6.79 EPS for the current year.

Insiders Place Their Bets

In other Alphabet news, Director John L. Hennessy sold 2,100 shares of the stock in a transaction 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 $1,035,402.16. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, SVP Prabhakar Raghavan sold 3,258 shares of the firm’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $155.97, for a total transaction of $508,150.26. Following the transaction, the senior vice president now owns 144,685 shares in the company, valued at $22,566,519.45. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director John L. Hennessy sold 2,100 shares of the firm’s stock in a transaction on Friday, April 26th. The shares were sold at an average price of $175.76, for a total value of $369,096.00. Following the transaction, 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. Insiders have sold a total of 253,439 shares of company stock worth $36,746,578 over the last quarter. Company insiders own 0.88% of the company’s stock.

Hedge Funds Weigh In On Alphabet

Institutional investors have recently made changes to their positions in the company. M. Kraus & Co raised its stake in shares of Alphabet by 1.1% in the first quarter. M. Kraus & Co now owns 6,267 shares of the information services provider’s stock worth $946,000 after purchasing an additional 66 shares during the last quarter. Wynn Capital LLC raised its stake in shares of Alphabet by 3.9% in the first quarter. Wynn Capital LLC now owns 1,767 shares of the information services provider’s stock worth $267,000 after purchasing an additional 67 shares during the last quarter. Aire Advisors LLC raised its stake in shares of Alphabet by 0.6% in the fourth quarter. Aire Advisors LLC now owns 11,772 shares of the information services provider’s stock worth $1,645,000 after purchasing an additional 68 shares during the last quarter. Henrickson Nauta Wealth Advisors Inc. raised its stake in shares of Alphabet by 2.1% in the first quarter. Henrickson Nauta Wealth Advisors Inc. now owns 3,274 shares of the information services provider’s stock worth $511,000 after purchasing an additional 68 shares during the last quarter. Finally, Penbrook Management LLC raised its stake in shares of Alphabet by 0.3% in the first quarter. Penbrook Management LLC now owns 23,170 shares of the information services provider’s stock worth $3,497,000 after purchasing an additional 70 shares during the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

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.