TD Cowen Raises Alphabet (NASDAQ:GOOGL) Price Target to $200.00

Alphabet (NASDAQ:GOOGL) had its price objective hoisted by analysts at TD Cowen from $170.00 to $200.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the information services provider’s stock. TD Cowen’s target price indicates a potential upside of 16.31% from the stock’s current price.

Other equities research analysts have also recently issued reports about the company. Citigroup raised their price target on Alphabet from $168.00 to $190.00 and gave the company a “buy” rating in a report on Friday. Needham & Company LLC increased their price objective on Alphabet from $160.00 to $210.00 and gave the company a “buy” rating in a research report on Friday. BMO Capital Markets reiterated an “outperform” rating and issued a $185.00 price objective (up from $178.00) on shares of Alphabet in a research report on Wednesday, April 10th. Stifel Nicolaus raised their price target on Alphabet from $174.00 to $196.00 and gave the stock a “buy” rating in a research report on Friday. Finally, Susquehanna raised their price target on Alphabet from $150.00 to $170.00 and gave the stock a “positive” rating in a research report on Wednesday, January 31st. Five research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $187.82.

Alphabet Stock Performance

GOOGL opened at $171.95 on Friday. 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 stock has a 50-day moving average of $147.85 and a 200-day moving average of $141.42. Alphabet has a 52-week low of $103.54 and a 52-week high of $174.71. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.10 and a current ratio of 2.10.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Tuesday, January 30th. The information services provider reported $1.64 earnings per share for the quarter, beating the consensus estimate of $1.60 by $0.04. The firm 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 quarter in the prior year, the company earned $1.05 EPS. As a group, equities research analysts forecast that Alphabet will post 6.79 earnings per share for the current fiscal year.

Insider Activity at Alphabet

In related news, Director John L. Hennessy sold 2,100 shares of Alphabet stock in a transaction dated 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 of the company’s stock, valued at $1,035,402.16. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, Director John L. Hennessy sold 2,100 shares of Alphabet stock in a transaction dated 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 of the company’s stock, valued at $1,035,402.16. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $146.29, for a total value 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 approximately $347,832,416.39. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 253,439 shares of company stock valued at $36,746,578. 0.88% of the stock is owned by insiders.

Hedge Funds Weigh In On Alphabet

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Kellett Wealth Advisors LLC grew its holdings in Alphabet by 5.1% during the first quarter. Kellett Wealth Advisors LLC now owns 2,688 shares of the information services provider’s stock worth $406,000 after purchasing an additional 130 shares during the period. Phoenix Wealth Advisors grew its holdings in Alphabet by 4.5% during the first quarter. Phoenix Wealth Advisors now owns 2,785 shares of the information services provider’s stock worth $420,000 after purchasing an additional 120 shares during the period. Fonville Wealth Management LLC grew its holdings 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 worth $241,000 after purchasing an additional 100 shares during the period. Finer Wealth Management Inc. grew its holdings 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 worth $5,489,000 after purchasing an additional 1,396 shares during the period. Finally, Foster Victor Wealth Advisors LLC grew its holdings 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 worth $21,125,000 after purchasing an additional 6,082 shares during the period. 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.