Alphabet (NASDAQ:GOOGL) Stock Price Expected to Rise, Wolfe Research Analyst Says

Alphabet (NASDAQ:GOOGL) had its price objective increased by research analysts at Wolfe Research from $220.00 to $290.00 in a report released on Tuesday,MarketScreener reports. Wolfe Research’s target price would suggest a potential upside of 18.42% from the stock’s current price.

Several other analysts also recently weighed in on the company. BMO Capital Markets upped their price objective on Alphabet from $208.00 to $225.00 and gave the stock an “outperform” rating in a research report on Thursday, July 24th. Citigroup upped their target price on Alphabet from $225.00 to $280.00 and gave the stock a “buy” rating in a report on Monday, September 15th. Morgan Stanley upped their target price on Alphabet from $185.00 to $205.00 and gave the stock an “overweight” rating in a report on Monday, July 21st. DA Davidson upped their target price on Alphabet from $180.00 to $190.00 and gave the stock a “neutral” rating in a report on Tuesday, September 2nd. Finally, Westpark Capital upped their target price on Alphabet from $210.00 to $220.00 and gave the stock a “buy” rating in a report on Thursday, July 24th. Four investment analysts have rated the stock with a Strong Buy rating, thirty-two have issued a Buy rating and ten have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $237.10.

Alphabet Price Performance

Shares of GOOGL stock opened at $244.90 on Tuesday. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. Alphabet has a twelve month low of $140.53 and a twelve month high of $256.00. The company has a market cap of $2.96 trillion, a P/E ratio of 26.08, a P/E/G ratio of 1.64 and a beta of 1.00. The business has a fifty day simple moving average of $219.14 and a 200 day simple moving average of $184.66.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, topping the consensus estimate of $2.15 by $0.16. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The business had revenue of $96.43 billion during the quarter, compared to the consensus estimate of $93.60 billion. On average, sell-side analysts forecast that Alphabet will post 8.9 EPS for the current fiscal year.

Insider Activity at Alphabet

In related news, insider John Kent Walker sold 17,816 shares of the stock in a transaction that occurred on Monday, September 29th. The stock was sold at an average price of $247.42, for a total transaction of $4,408,034.72. Following the completion of the sale, the insider directly owned 42,985 shares of the company’s stock, valued at approximately $10,635,348.70. This trade represents a 29.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Amie Thuener O’toole sold 2,778 shares of the stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $245.00, for a total value of $680,610.00. Following the sale, the chief accounting officer directly owned 17,293 shares of the company’s stock, valued at $4,236,785. The trade was a 13.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 243,285 shares of company stock valued at $50,994,787 in the last ninety days. Insiders own 11.64% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Beddow Capital Management Inc. grew its stake in shares of Alphabet by 2.0% during the 2nd quarter. Beddow Capital Management Inc. now owns 2,510 shares of the information services provider’s stock worth $445,000 after acquiring an additional 50 shares during the period. Gimbal Financial grew its stake in shares of Alphabet by 1.9% during the 2nd quarter. Gimbal Financial now owns 2,776 shares of the information services provider’s stock worth $489,000 after acquiring an additional 53 shares during the period. Missouri Trust & Investment Co boosted its holdings in shares of Alphabet by 0.3% in the second quarter. Missouri Trust & Investment Co now owns 16,916 shares of the information services provider’s stock worth $2,981,000 after acquiring an additional 55 shares during the period. Silver Coast Investments LLC boosted its holdings in shares of Alphabet by 1.3% in the second quarter. Silver Coast Investments LLC now owns 4,317 shares of the information services provider’s stock worth $761,000 after acquiring an additional 55 shares during the period. Finally, North Berkeley Wealth Management LLC boosted its holdings in shares of Alphabet by 1.3% in the second quarter. North Berkeley Wealth Management LLC now owns 4,200 shares of the information services provider’s stock worth $740,000 after acquiring an additional 55 shares during the period. Institutional investors own 40.03% of the company’s stock.

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.