Alphabet (NASDAQ:GOOGL) Stock Price Expected to Rise, Roth Mkm Analyst Says

Alphabet (NASDAQ:GOOGLGet Free Report) had its price objective increased by equities research analysts at Roth Mkm from $365.00 to $395.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has a “buy” rating on the information services provider’s stock. Roth Mkm’s price objective indicates a potential upside of 22.34% from the stock’s previous close.

Other analysts have also recently issued research reports about the company. Daiwa Securities Group lifted their price target on Alphabet from $233.00 to $333.00 and gave the stock a “buy” rating in a research report on Thursday, November 6th. Piper Sandler reiterated an “overweight” rating and issued a $395.00 target price (up previously from $365.00) on shares of Alphabet in a research report on Thursday. China Renaissance increased their price target on shares of Alphabet from $207.00 to $330.00 and gave the stock a “buy” rating in a report on Friday, October 31st. HSBC lifted their price objective on shares of Alphabet from $335.00 to $370.00 and gave the company a “buy” rating in a research note on Tuesday, December 2nd. Finally, Argus increased their price objective on shares of Alphabet from $330.00 to $365.00 and gave the stock a “buy” rating in a research note on Monday, January 5th. Three equities research analysts have rated the stock with a Strong Buy rating, forty-three have given a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $357.46.

Read Our Latest Stock Analysis on Alphabet

Alphabet Stock Down 2.5%

NASDAQ:GOOGL opened at $322.86 on Thursday. The company has a market cap of $3.90 trillion, a PE ratio of 29.87, a P/E/G ratio of 1.86 and a beta of 1.09. Alphabet has a twelve month low of $140.53 and a twelve month high of $349.00. The company has a current ratio of 2.01, a quick ratio of 1.75 and a debt-to-equity ratio of 0.11. The company’s 50 day moving average is $321.60 and its two-hundred day moving average is $270.17.

Alphabet (NASDAQ:GOOGLGet Free Report) last posted its quarterly earnings results on Wednesday, February 4th. The information services provider reported $2.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.57 by $0.25. The business had revenue of $113.83 billion during the quarter, compared to analysts’ expectations of $111.24 billion. Alphabet had a net margin of 32.81% and a return on equity of 35.01%. Analysts anticipate that Alphabet will post 8.9 EPS for the current year.

Insider Buying and Selling at Alphabet

In other Alphabet news, major shareholder 2017 Gp L.L.C. Gv sold 1,845,308 shares of the stock in a transaction that occurred on Friday, January 30th. The stock was sold at an average price of $19.00, for a total transaction of $35,060,852.00. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director John L. Hennessy sold 600 shares of the firm’s stock in a transaction that occurred on Tuesday, January 13th. The shares were sold at an average price of $337.52, for a total value of $202,512.00. Following the completion of the sale, the director directly owned 21,224 shares in the company, valued at approximately $7,163,524.48. The trade was a 2.75% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 2,067,686 shares of company stock worth $105,352,291. 11.64% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Brighton Jones LLC boosted its holdings in Alphabet by 3.9% in the 4th quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider’s stock worth $20,886,000 after buying an additional 4,110 shares during the last quarter. Revolve Wealth Partners LLC boosted its stake in shares of Alphabet by 3.5% in the fourth quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider’s stock worth $2,826,000 after acquiring an additional 506 shares during the last quarter. B.O.S.S. Retirement Advisors LLC increased its position in shares of Alphabet by 13.9% during the second quarter. B.O.S.S. Retirement Advisors LLC now owns 9,839 shares of the information services provider’s stock worth $1,734,000 after purchasing an additional 1,200 shares in the last quarter. Precision Wealth Strategies LLC raised its stake in Alphabet by 498.8% in the 2nd quarter. Precision Wealth Strategies LLC now owns 10,222 shares of the information services provider’s stock valued at $1,801,000 after purchasing an additional 8,515 shares during the last quarter. Finally, NRI Wealth Management LC purchased a new position in Alphabet in the 2nd quarter valued at $225,000. Hedge funds and other institutional investors own 40.03% of the company’s stock.

More Alphabet News

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Alphabet Company Profile

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Alphabet Inc is the holding company created in 2015 to organize Google and a portfolio of businesses developing technologies beyond Google’s core internet services. Its principal operations are led by Google, which builds and operates consumer-facing products such as Google Search, YouTube, Android, Chrome, Gmail, Google Maps and Google Workspace, as well as advertising platforms (Google Ads and AdSense) that historically generate the majority of its revenue. Google also develops consumer hardware (Pixel phones, Nest smart-home devices, Chromecast) and developer and distribution platforms such as Google Play.

Beyond Google’s consumer and advertising businesses, Alphabet invests in enterprise and infrastructure offerings through Google Cloud, which provides cloud computing, data analytics and productivity services to businesses and institutions.

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