Alphabet (NASDAQ:GOOGL) Price Target Raised to $305.00

Alphabet (NASDAQ:GOOGL) had its price objective raised by Moffett Nathanson from $295.00 to $305.00 in a research note released on Thursday morning,MarketScreener reports. They currently have a buy rating on the information services provider’s stock.

Other equities research analysts also recently issued reports about the stock. Loop Capital lifted their price target on shares of Alphabet from $190.00 to $260.00 and gave the stock a “hold” rating in a report on Friday, October 24th. KeyCorp reiterated an “overweight” rating and set a $300.00 price target (up from $265.00) on shares of Alphabet in a report on Monday, October 27th. Truist Financial lifted their price target on shares of Alphabet from $285.00 to $320.00 and gave the stock a “buy” rating in a report on Thursday. Canaccord Genuity Group lifted their price target on shares of Alphabet from $270.00 to $330.00 and gave the stock a “buy” rating in a report on Thursday. Finally, Needham & Company LLC boosted their target price on shares of Alphabet from $260.00 to $330.00 and gave the company a “buy” rating in a report on Thursday. Three investment analysts have rated the stock with a Strong Buy rating, thirty-five have given a Buy rating and nine have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Alphabet presently has a consensus rating of “Moderate Buy” and an average target price of $302.20.

Alphabet Stock Performance

Shares of NASDAQ GOOGL opened at $281.31 on Thursday. The company has a market cap of $3.40 trillion, a PE ratio of 27.74, a price-to-earnings-growth ratio of 1.86 and a beta of 1.00. Alphabet has a 12 month low of $140.53 and a 12 month high of $291.59. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. The company has a 50-day simple moving average of $244.00 and a 200-day simple moving average of $199.98.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Wednesday, October 29th. The information services provider reported $2.87 EPS for the quarter, topping analysts’ consensus estimates of $2.29 by $0.58. The business had revenue of $102.35 billion during the quarter, compared to the consensus estimate of $99.90 billion. Alphabet had a net margin of 32.23% and a return on equity of 36.08%. On average, equities analysts anticipate that Alphabet will post 8.9 earnings per share for the current year.

Insider Activity at Alphabet

In other Alphabet news, insider John Kent Walker sold 17,816 shares of the business’s stock in a transaction that occurred on Monday, September 29th. The shares were 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 in the company, valued at $10,635,348.70. The trade was a 29.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction that occurred on Wednesday, October 15th. The stock was sold at an average price of $250.15, for a total transaction of $8,129,875.00. Following the sale, the chief executive officer owned 2,369,619 shares of the company’s stock, valued at approximately $592,760,192.85. This represents a 1.35% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 246,150 shares of company stock valued at $55,805,379 over the last quarter. Company insiders own 11.64% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Guardian Wealth Management Inc. lifted its position in shares of Alphabet by 242.9% during the first quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider’s stock worth $26,000 after purchasing an additional 119 shares in the last quarter. Financial Gravity Companies Inc. bought a new position in Alphabet during the 2nd quarter valued at $31,000. IMA Advisory Services Inc. bought a new position in Alphabet during the 1st quarter valued at $28,000. von Borstel & Associates Inc. bought a new position in Alphabet during the 1st quarter valued at $28,000. Finally, NBZ Investment Advisors LLC boosted its stake in Alphabet by 85.7% during the 1st quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider’s stock valued at $30,000 after acquiring an additional 90 shares during the last quarter. 40.03% of the stock is owned by institutional investors and hedge funds.

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.