Dbs Bank Raises Alphabet (NASDAQ:GOOGL) Price Target to $400.00

Alphabet (NASDAQ:GOOGLGet Free Report) had its target price increased by stock analysts at Dbs Bank from $360.00 to $400.00 in a note issued to investors on Friday,MarketScreener reports. The brokerage presently has a “buy” rating on the information services provider’s stock. Dbs Bank’s price target indicates a potential upside of 17.07% from the stock’s current price.

A number of other research analysts have also recently commented on the company. UBS Group set a $348.00 price target on Alphabet and gave the stock a “neutral” rating in a research report on Thursday, February 5th. Moffett Nathanson raised their price target on Alphabet from $305.00 to $350.00 and gave the stock a “buy” rating in a research report on Thursday, February 5th. Citizens Jmp restated a “market outperform” rating and issued a $385.00 price target on shares of Alphabet in a research report on Monday, April 13th. JPMorgan Chase & Co. restated a “buy” rating on shares of Alphabet in a research report on Monday, February 9th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $370.00 price target on shares of Alphabet in a research report on Wednesday, April 8th. Two research analysts have rated the stock with a Strong Buy rating, forty-six have given a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Alphabet has a consensus rating of “Moderate Buy” and a consensus target price of $368.25.

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Alphabet Stock Up 1.7%

Shares of NASDAQ GOOGL opened at $341.68 on Friday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.01 and a current ratio of 2.01. Alphabet has a 52 week low of $146.10 and a 52 week high of $349.00. The stock has a market capitalization of $4.13 trillion, a P/E ratio of 31.61, a PEG ratio of 2.07 and a beta of 1.12. The stock’s fifty day moving average is $306.82 and its 200 day moving average is $301.77.

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

Insiders Place Their Bets

In other Alphabet news, Director John L. Hennessy sold 1,050 shares of Alphabet stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $303.41, for a total value of $318,580.50. Following the transaction, the director owned 4,631 shares in the company, valued at $1,405,091.71. The trade was a 18.48% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder 2017 Gp L.L.C. Gv sold 1,845,308 shares of Alphabet stock in a transaction dated Friday, January 30th. The shares were sold at an average price of $19.00, for a total value of $35,060,852.00. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 2,069,794 shares of company stock worth $104,854,147. Insiders own 11.64% of the company’s stock.

Institutional Trading of Alphabet

Several hedge funds and other institutional investors have recently made changes to their positions in GOOGL. Norges Bank bought a new stake in shares of Alphabet during the fourth quarter worth about $30,534,239,000. Berkshire Hathaway Inc bought a new stake in shares of Alphabet during the third quarter worth about $4,338,397,000. Cardano Risk Management B.V. grew its holdings in shares of Alphabet by 855.3% during the fourth quarter. Cardano Risk Management B.V. now owns 14,525,280 shares of the information services provider’s stock worth $4,546,413,000 after purchasing an additional 13,004,828 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Alphabet by 2.4% during the fourth quarter. Vanguard Group Inc. now owns 528,969,322 shares of the information services provider’s stock worth $165,567,398,000 after purchasing an additional 12,531,695 shares during the last quarter. Finally, Capital World Investors grew its holdings in shares of Alphabet by 28.0% during the third quarter. Capital World Investors now owns 53,107,572 shares of the information services provider’s stock worth $12,910,542,000 after purchasing an additional 11,605,785 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors.

Key Alphabet News

Here are the key news stories impacting Alphabet this week:

About Alphabet

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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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