Alphabet (NASDAQ:GOOGL) Stock Price Expected to Rise, Cantor Fitzgerald Analyst Says

Alphabet (NASDAQ:GOOGL) had its price objective boosted by equities researchers at Cantor Fitzgerald from $171.00 to $196.00 in a report released on Wednesday,Benzinga reports. The firm currently has a “neutral” rating on the information services provider’s stock. Cantor Fitzgerald’s price target would indicate a potential upside of 6.77% from the stock’s previous close.

Other analysts have also recently issued reports about the company. KeyCorp increased their price objective on Alphabet from $185.00 to $195.00 and gave the stock an “overweight” rating in a research report on Friday, April 25th. Wells Fargo & Company increased their price target on Alphabet from $175.00 to $177.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 8th. Needham & Company LLC boosted their price objective on shares of Alphabet from $178.00 to $210.00 and gave the company a “buy” rating in a research note on Wednesday. Stifel Nicolaus lowered their target price on shares of Alphabet from $225.00 to $192.00 and set a “buy” rating on the stock in a report on Wednesday, April 23rd. Finally, Citizens Jmp raised shares of Alphabet from a “market perform” rating to an “outperform” rating and set a $220.00 price target for the company in a report on Friday, June 27th. Ten research analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $201.41.

Alphabet Price Performance

Shares of NASDAQ GOOGL opened at $183.58 on Wednesday. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 0.03. The stock has a market cap of $2.23 trillion, a P/E ratio of 20.47, a P/E/G ratio of 1.28 and a beta of 1.00. The stock has a 50 day moving average of $172.26 and a two-hundred day moving average of $173.15. Alphabet has a twelve month low of $140.53 and a twelve month high of $207.05.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.02 by $0.79. Alphabet had a net margin of 30.86% and a return on equity of 34.54%. The company had revenue of $76.49 billion for the quarter, compared to the consensus estimate of $89.30 billion. During the same period last year, the firm posted $1.89 EPS. On average, research analysts forecast that Alphabet will post 8.9 earnings per share for the current year.

Insiders Place Their Bets

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction dated Wednesday, July 16th. The stock was sold at an average price of $184.38, for a total value of $5,992,350.00. Following the completion of the sale, the chief executive officer owned 2,527,392 shares in the company, valued at $466,000,536.96. The trade was a 1.27% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director John L. Hennessy sold 600 shares of the stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total transaction of $105,000.00. Following the transaction, the director owned 6,813 shares in the company, valued at approximately $1,192,275. The trade was a 8.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 215,843 shares of company stock valued at $37,288,490 in the last quarter. 11.64% of the stock is currently owned by company insiders.

Institutional Trading of Alphabet

Several institutional investors have recently made changes to their positions in GOOGL. Wealth Group Ltd. boosted its position in shares of Alphabet by 5.2% in the fourth quarter. Wealth Group Ltd. now owns 1,582 shares of the information services provider’s stock worth $299,000 after buying an additional 78 shares during the period. Eagle Capital Management LLC lifted its position in Alphabet by 0.7% during the 4th quarter. Eagle Capital Management LLC now owns 50,132 shares of the information services provider’s stock worth $9,490,000 after acquiring an additional 371 shares in the last quarter. Brighton Jones LLC boosted its holdings in Alphabet by 3.9% in the 4th quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider’s stock worth $20,886,000 after acquiring an additional 4,110 shares during the period. Revolve Wealth Partners LLC grew its position in Alphabet by 3.5% in the fourth quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider’s stock valued at $2,826,000 after acquiring an additional 506 shares in the last quarter. Finally, Highview Capital Management LLC DE grew its position in Alphabet by 3.6% in the fourth quarter. Highview Capital Management LLC DE now owns 29,100 shares of the information services provider’s stock valued at $5,509,000 after acquiring an additional 1,003 shares in the last quarter. 40.03% of the stock is owned by hedge funds and other institutional investors.

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.