Wolfe Research Increases Alphabet (NASDAQ:GOOGL) Price Target to $200.00

Alphabet (NASDAQ:GOOGL) had its target price increased by equities research analysts at Wolfe Research from $180.00 to $200.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage currently has an “outperform” rating on the information services provider’s stock. Wolfe Research’s target price suggests a potential upside of 16.31% from the company’s current price.

A number of other equities analysts also recently weighed in on GOOGL. Susquehanna upped 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. 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 report on Friday, April 19th. Roth Mkm reduced their price target on Alphabet from $166.00 to $164.00 and set a “buy” rating for the company in a research report on Wednesday, January 31st. Redburn Atlantic upped their price target on Alphabet from $150.00 to $165.00 and gave the stock a “buy” rating in a research report on Wednesday, January 31st. Finally, UBS Group upped their price target on Alphabet from $150.00 to $166.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 16th. Five equities research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $187.82.

Alphabet Price Performance

Shares of GOOGL opened at $171.95 on Friday. 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 stock has a 50 day simple moving average of $147.85 and a 200 day simple moving average of $141.42. Alphabet has a 52-week low of $103.54 and a 52-week high of $174.71. The firm has a market capitalization of $2.14 trillion, a PE ratio of 26.37, a P/E/G ratio of 1.43 and a beta of 1.05.

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

Insider Activity at Alphabet

In related news, Director John L. Hennessy sold 2,100 shares of the business’s 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 completion of the transaction, the director now owns 5,891 shares of the company’s stock, valued at $1,035,402.16. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Alphabet 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 transaction, the director now owns 5,891 shares in the company, valued at $1,035,402.16. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director John L. Hennessy sold 800 shares of Alphabet stock in a transaction dated Friday, April 12th. The shares were sold at an average price of $159.56, for a total value of $127,648.00. Following the completion of the transaction, the director now owns 7,991 shares in the company, valued at approximately $1,275,043.96. The disclosure for this sale can be found here. Insiders sold a total of 253,439 shares of company stock valued at $36,746,578 over the last quarter. 0.88% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Chico Wealth RIA bought a new stake in shares of Alphabet during the third quarter worth about $330,000. Summit Global Investments lifted its stake in shares of Alphabet by 67.7% in the third quarter. Summit Global Investments now owns 241,463 shares of the information services provider’s stock worth $31,598,000 after acquiring an additional 97,466 shares during the period. Prentice Wealth Management LLC lifted its stake in shares of Alphabet by 18.1% in the third quarter. Prentice Wealth Management LLC now owns 7,140 shares of the information services provider’s stock worth $934,000 after acquiring an additional 1,096 shares during the period. Sunflower Bank N.A. lifted its stake in shares of Alphabet by 6.3% in the third quarter. Sunflower Bank N.A. now owns 5,951 shares of the information services provider’s stock worth $779,000 after acquiring an additional 353 shares during the period. Finally, David J Yvars Group lifted its stake in Alphabet by 10.3% in the third quarter. David J Yvars Group now owns 4,170 shares of the information services provider’s stock valued at $546,000 after buying an additional 390 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.