Wedbush Increases Alphabet (NASDAQ:GOOGL) Price Target to $205.00

Alphabet (NASDAQ:GOOGL) had its price target boosted by analysts at Wedbush from $175.00 to $205.00 in a research report issued on Friday, Benzinga reports. The firm currently has an “outperform” rating on the information services provider’s stock. Wedbush’s price objective points to a potential upside of 19.22% from the company’s current price. Wedbush also issued estimates for Alphabet’s Q2 2024 earnings at $1.85 EPS, Q3 2024 earnings at $1.78 EPS, Q4 2024 earnings at $1.96 EPS and FY2025 earnings at $8.25 EPS.

GOOGL has been the topic of a number of other research reports. JMP Securities reissued a “market outperform” rating and set a $160.00 price objective on shares of Alphabet in a research report on Wednesday, April 10th. Wells Fargo & Company cut their price objective on shares of Alphabet from $144.00 to $141.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 3rd. Needham & Company LLC increased their price objective on shares of Alphabet from $160.00 to $210.00 and gave the stock a “buy” rating in a research report on Friday. Jefferies Financial Group increased their price objective on shares of Alphabet from $175.00 to $180.00 and gave the stock a “buy” rating in a research report on Friday, April 19th. Finally, KeyCorp increased their price objective on shares of Alphabet from $165.00 to $175.00 and gave the stock an “overweight” rating in a research report on Monday, April 22nd. 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. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $187.82.

Alphabet Stock Performance

Shares of Alphabet stock opened at $171.95 on Friday. 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 business has a 50-day moving average price of $147.85 and a two-hundred day moving average price of $141.42. Alphabet has a 1-year low of $103.54 and a 1-year high of $174.71. 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 (NASDAQ:GOOGL) last issued its quarterly earnings results on Tuesday, January 30th. The information services provider reported $1.64 earnings per share for the quarter, topping analysts’ consensus estimates of $1.60 by $0.04. Alphabet had a return on equity of 30.01% and a net margin of 25.90%. The firm had revenue of $86.31 billion during the quarter, compared to the consensus estimate of $70.77 billion. During the same period last year, the business posted $1.05 EPS. As a group, analysts anticipate that Alphabet will post 6.79 EPS for the current year.

Insider Transactions at Alphabet

In other news, CAO Amie Thuener O’toole sold 660 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $143.59, for a total transaction of $94,769.40. Following the completion of the sale, the chief accounting officer now owns 27,920 shares in the company, valued at approximately $4,009,032.80. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related 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 value of $35,433.80. Following the completion of the transaction, the director now directly owns 15,104 shares in the company, valued at approximately $2,326,922.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Amie Thuener O’toole sold 660 shares of Alphabet stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $143.59, for a total transaction of $94,769.40. Following the completion of the transaction, the chief accounting officer now owns 27,920 shares of the company’s stock, valued at $4,009,032.80. The disclosure for this sale can be found here. Insiders sold a total of 253,439 shares of company stock worth $36,746,578 in the last quarter. Insiders own 0.88% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of GOOGL. Norges Bank bought a new position in Alphabet in the 4th quarter valued at $15,441,917,000. FMR LLC boosted its holdings in Alphabet by 5.6% in the 3rd quarter. FMR LLC now owns 227,317,469 shares of the information services provider’s stock valued at $29,746,764,000 after purchasing an additional 12,070,681 shares during the period. Vanguard Group Inc. boosted its holdings in Alphabet by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 493,810,251 shares of the information services provider’s stock valued at $68,980,354,000 after purchasing an additional 6,374,756 shares during the period. Public Employees Retirement Association of Colorado boosted its holdings in Alphabet by 39,754.9% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 6,025,667 shares of the information services provider’s stock valued at $841,725,000 after purchasing an additional 6,010,548 shares during the period. Finally, International Assets Investment Management LLC boosted its holdings in Alphabet by 4,894.1% in the 4th quarter. International Assets Investment Management LLC now owns 5,445,396 shares of the information services provider’s stock valued at $7,606,670,000 after purchasing an additional 5,336,359 shares during the period. 40.03% of the stock is owned by institutional investors.

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.