KeyCorp Boosts Alphabet (NASDAQ:GOOGL) Price Target to $215.00

Alphabet (NASDAQ:GOOGL) had its price objective raised by investment analysts at KeyCorp from $195.00 to $215.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the information services provider’s stock. KeyCorp’s target price points to a potential upside of 16.18% from the company’s current price.

Other analysts have also issued research reports about the stock. Tigress Financial lifted their price objective on shares of Alphabet from $220.00 to $240.00 and gave the company a “strong-buy” rating in a research note on Wednesday, April 30th. Needham & Company LLC boosted their price objective on shares of Alphabet from $178.00 to $210.00 and gave the stock a “buy” rating in a report on Wednesday. UBS Group raised their target price on Alphabet from $186.00 to $192.00 and gave the company a “neutral” rating in a research note on Wednesday. Susquehanna dropped their target price on Alphabet from $225.00 to $220.00 and set a “positive” rating on the stock in a research report on Friday, April 25th. Finally, Stifel Nicolaus reduced their price target on Alphabet from $225.00 to $192.00 and set a “buy” rating for the company in a report on Wednesday, April 23rd. Ten equities research analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and four have issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $201.68.

Alphabet Stock Up 0.8%

GOOGL stock opened at $185.06 on Thursday. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.77 and a quick ratio of 1.77. The company’s 50 day simple moving average is $172.90 and its 200-day simple moving average is $173.12. Alphabet has a 12 month low of $140.53 and a 12 month high of $207.05. The firm has a market capitalization of $2.25 trillion, a PE ratio of 20.63, a P/E/G ratio of 1.29 and a beta of 1.00.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.02 by $0.79. Alphabet had a net margin of 30.86% and a return on equity of 34.54%. The firm had revenue of $76.49 billion for the quarter, compared to analyst estimates of $89.30 billion. During the same quarter last year, the business earned $1.89 earnings per share. Equities analysts expect that Alphabet will post 8.9 earnings per share for the current fiscal year.

Insider Activity at Alphabet

In other news, CEO Sundar Pichai sold 32,500 shares of the company’s stock in a transaction that occurred on Wednesday, July 16th. The stock was sold at an average price of $184.38, for a total transaction of $5,992,350.00. Following the completion of the transaction, the chief executive officer directly owned 2,527,392 shares in the company, valued at $466,000,536.96. The trade was a 1.27% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John L. Hennessy sold 600 shares of the business’s 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 position. The disclosure for this sale can be found here. In the last three months, insiders have sold 215,843 shares of company stock worth $37,288,490. 11.64% of the stock is owned by insiders.

Hedge Funds Weigh In On Alphabet

A number of hedge funds and other institutional investors have recently made changes to their positions in GOOGL. Harbour Trust & Investment Management Co boosted its stake in Alphabet by 0.3% in the first quarter. Harbour Trust & Investment Management Co now owns 27,075 shares of the information services provider’s stock worth $4,187,000 after purchasing an additional 80 shares in the last quarter. Rockbridge Capital Management LLC bought a new position in shares of Alphabet in the fourth quarter valued at about $3,119,000. Cypress Capital LLC lifted its position in Alphabet by 4.1% during the 1st quarter. Cypress Capital LLC now owns 14,310 shares of the information services provider’s stock worth $2,213,000 after buying an additional 563 shares in the last quarter. Optivise Advisory Services LLC grew its holdings in Alphabet by 8.0% during the 4th quarter. Optivise Advisory Services LLC now owns 5,464 shares of the information services provider’s stock worth $1,035,000 after acquiring an additional 403 shares during the last quarter. Finally, Community Bank N.A. increased its position in Alphabet by 6.4% in the 4th quarter. Community Bank N.A. now owns 46,173 shares of the information services provider’s stock valued at $8,741,000 after acquiring an additional 2,790 shares in the last quarter. 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.