Alphabet (NASDAQ:GOOGL) Price Target Raised to $335.00

Alphabet (NASDAQ:GOOGL) had its price objective upped by Bank of America from $280.00 to $335.00 in a research note issued to investors on Thursday,Benzinga reports. Bank of America currently has a buy rating on the information services provider’s stock.

Other research analysts have also issued research reports about the company. BNP Paribas Exane increased their price target on Alphabet from $187.00 to $247.00 and gave the stock a “neutral” rating in a report on Tuesday, October 21st. JMP Securities reiterated a “market outperform” rating and issued a $290.00 price target on shares of Alphabet in a report on Wednesday, October 22nd. Wells Fargo & Company set a $236.00 price target on Alphabet and gave the stock an “equal weight” rating in a report on Tuesday, October 7th. UBS Group reiterated a “neutral” rating on shares of Alphabet in a report on Wednesday, October 22nd. Finally, Rosenblatt Securities increased their price target on Alphabet from $224.00 to $279.00 and gave the stock a “neutral” rating in a report on Thursday. Three research analysts have rated the stock with a Strong Buy rating, thirty-five have issued a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat.com, Alphabet currently has a consensus rating of “Moderate Buy” and an average price target of $302.20.

Alphabet Trading Down 0.1%

NASDAQ GOOGL opened at $281.31 on Thursday. The business has a 50 day simple moving average of $244.00 and a 200 day simple moving average of $199.98. Alphabet has a one year low of $140.53 and a one year high of $291.59. The stock has a market capitalization of $3.40 trillion, a P/E ratio of 27.74, a P/E/G ratio of 1.86 and a beta of 1.00. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90.

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

Insider Activity

In related news, insider John Kent Walker sold 23,820 shares of Alphabet stock in a transaction on Monday, August 4th. The stock was sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the sale, the insider directly owned 42,999 shares in the company, valued at approximately $8,371,905.30. This trade represents a 35.65% 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, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction on Wednesday, September 17th. The stock was sold at an average price of $249.50, for a total value of $8,108,750.00. Following the sale, the chief executive officer owned 2,397,392 shares in the company, valued at $598,149,304. This trade represents a 1.34% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 246,150 shares of company stock worth $55,805,379 over the last 90 days. 11.64% of the stock is currently owned by corporate insiders.

Institutional Trading of Alphabet

Hedge funds have recently bought and sold shares of the business. Guardian Wealth Management Inc. lifted its holdings in 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 acquiring an additional 119 shares during the period. Financial Gravity Companies Inc. bought a new stake in shares of Alphabet in the second quarter valued at $31,000. IMA Advisory Services Inc. bought a new stake in shares of Alphabet in the first quarter valued at $28,000. von Borstel & Associates Inc. bought a new stake in shares of Alphabet in the first quarter valued at $28,000. Finally, NBZ Investment Advisors LLC raised its stake in shares of Alphabet by 85.7% in the first quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider’s stock valued at $30,000 after buying an additional 90 shares during the period. 40.03% of the stock is currently owned by 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.