UBS Group Increases Alphabet (NASDAQ:GOOGL) Price Target to $192.00

Alphabet (NASDAQ:GOOGL) had its target price lifted by research analysts at UBS Group from $186.00 to $192.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a “neutral” rating on the information services provider’s stock. UBS Group’s price objective suggests a potential upside of 4.59% from the stock’s previous close.

GOOGL has been the subject of several other reports. Roth Capital reaffirmed a “buy” rating and issued a $205.00 target price (up from $180.00) on shares of Alphabet in a research report on Tuesday, July 8th. Stifel Nicolaus decreased their target price on shares of Alphabet from $225.00 to $192.00 and set a “buy” rating on the stock in a research report on Wednesday, April 23rd. DA Davidson lowered their target price on shares of Alphabet from $200.00 to $160.00 and set a “neutral” rating on the stock in a research note on Monday, April 14th. Mizuho cut their price target on shares of Alphabet from $230.00 to $205.00 and set an “outperform” rating for the company in a research note on Wednesday, April 9th. Finally, BNP Paribas Exane reiterated a “neutral” rating and issued a $172.00 price objective on shares of Alphabet in a research note on Friday, June 27th. Ten investment analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and four have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $201.41.

Alphabet Stock Performance

Shares of Alphabet stock opened at $183.58 on Wednesday. Alphabet has a 12 month low of $140.53 and a 12 month high of $207.05. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 0.03. The stock has a market cap of $2.23 trillion, a PE ratio of 20.47, a price-to-earnings-growth ratio of 1.28 and a beta of 1.00. The business has a fifty day simple moving average of $172.26 and a 200-day simple moving average of $173.15.

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

Insider Buying and Selling at Alphabet

In other news, Director Kavitark Ram Shriram sold 9,000 shares of Alphabet stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total transaction of $1,575,000.00. Following the transaction, the director owned 255,400 shares in the company, valued at $44,695,000. This trade represents a 3.40% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction dated Wednesday, July 16th. The shares were sold at an average price of $184.38, for a total value of $5,992,350.00. Following the sale, the chief executive officer directly owned 2,527,392 shares in the company, valued at approximately $466,000,536.96. This represents a 1.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 215,843 shares of company stock worth $37,288,490 in the last three months. 11.64% of the stock is currently owned by company insiders.

Institutional Trading of Alphabet

Several hedge funds have recently made changes to their positions in GOOGL. MBA Advisors LLC boosted its holdings in shares of Alphabet by 0.8% in the 2nd quarter. MBA Advisors LLC now owns 9,055 shares of the information services provider’s stock worth $1,596,000 after purchasing an additional 76 shares during the period. Bosman Wealth Management LLC lifted its position in Alphabet by 20.4% in the second quarter. Bosman Wealth Management LLC now owns 33,362 shares of the information services provider’s stock worth $5,879,000 after buying an additional 5,663 shares during the last quarter. Elwood & Goetz Wealth Advisory Group LLC boosted its stake in Alphabet by 46.0% during the second quarter. Elwood & Goetz Wealth Advisory Group LLC now owns 3,108 shares of the information services provider’s stock worth $548,000 after buying an additional 979 shares during the period. Spectrum Strategic Capital Management LLC boosted its stake in Alphabet by 38.8% during the second quarter. Spectrum Strategic Capital Management LLC now owns 19,908 shares of the information services provider’s stock worth $3,508,000 after buying an additional 5,568 shares during the period. Finally, Emerald Advisors LLC increased its position in Alphabet by 5.1% during the second quarter. Emerald Advisors LLC now owns 5,256 shares of the information services provider’s stock valued at $926,000 after acquiring an additional 254 shares during the last quarter. 40.03% of the stock is currently owned by hedge funds and other 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.