Analysts Set Alphabet Inc. (NASDAQ:GOOGL) Price Target at $149.79

Shares of Alphabet Inc. (NASDAQ:GOOGLGet Free Report) have received an average recommendation of “Moderate Buy” from the thirty-three research firms that are currently covering the firm, Marketbeat reports. Five equities research analysts have rated the stock with a hold recommendation, twenty-seven have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $149.79.

GOOGL has been the topic of a number of analyst reports. StockNews.com upgraded shares of Alphabet from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, December 20th. Barclays decreased their target price on Alphabet from $200.00 to $180.00 and set an “overweight” rating for the company in a research note on Wednesday, October 25th. Morgan Stanley cut their price target on Alphabet from $155.00 to $150.00 and set an “overweight” rating for the company in a research note on Wednesday, October 25th. Tigress Financial boosted their price target on Alphabet from $172.00 to $176.00 and gave the company a “strong-buy” rating in a research note on Tuesday, November 21st. Finally, Wedbush restated an “outperform” rating and issued a $160.00 price target on shares of Alphabet in a report on Wednesday, October 25th.

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Alphabet Price Performance

GOOGL stock opened at $151.87 on Friday. Alphabet has a 12-month low of $88.57 and a 12-month high of $153.05. The company has a current ratio of 2.04, a quick ratio of 2.01 and a debt-to-equity ratio of 0.05. The firm’s 50-day moving average price is $138.44 and its two-hundred day moving average price is $133.71. The stock has a market capitalization of $1.90 trillion, a price-to-earnings ratio of 29.15, a PEG ratio of 1.32 and a beta of 1.05.

Alphabet (NASDAQ:GOOGLGet Free Report) last issued its quarterly earnings data on Tuesday, October 24th. The information services provider reported $1.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.45 by $0.10. The firm had revenue of $64.05 billion for the quarter, compared to the consensus estimate of $63.13 billion. Alphabet had a net margin of 22.46% and a return on equity of 25.24%. As a group, equities analysts predict that Alphabet will post 5.77 earnings per share for the current year.

Insider Activity at Alphabet

In other news, Director Kavitark Ram Shriram sold 75,000 shares of the company’s stock in a transaction dated Tuesday, November 7th. The stock was sold at an average price of $131.09, for a total value of $9,831,750.00. Following the completion of the transaction, the director now directly owns 104,364 shares in the company, valued at approximately $13,681,076.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction that occurred on Wednesday, December 20th. The stock was sold at an average price of $141.43, for a total transaction of $3,182,175.00. Following the completion of the transaction, the chief executive officer now owns 2,407,688 shares of the company’s stock, valued at approximately $340,519,313.84. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Kavitark Ram Shriram sold 75,000 shares of the firm’s stock in a transaction on Tuesday, November 7th. The stock was sold at an average price of $131.09, for a total value of $9,831,750.00. Following the completion of the transaction, the director now owns 104,364 shares in the company, valued at $13,681,076.76. The disclosure for this sale can be found here. In the last three months, insiders have sold 189,459 shares of company stock worth $25,949,772. 0.88% of the stock is owned by company insiders.

Institutional Investors Weigh In On Alphabet

Several large investors have recently made changes to their positions in GOOGL. Bornite Capital Management LP purchased a new stake in shares of Alphabet during the 1st quarter valued at approximately $16,688,000. Markel Corp boosted its holdings in shares of Alphabet by 17.0% in the 1st quarter. Markel Corp now owns 15,500 shares of the information services provider’s stock valued at $43,110,000 after buying an additional 2,250 shares during the period. United Bank raised its holdings in shares of Alphabet by 5.9% in the 1st quarter. United Bank now owns 2,033 shares of the information services provider’s stock worth $5,654,000 after purchasing an additional 113 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in Alphabet by 23.4% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 323,918 shares of the information services provider’s stock valued at $900,929,000 after purchasing an additional 61,427 shares in the last quarter. Finally, Dakota Wealth Management lifted its stake in shares of Alphabet by 20.4% in the first quarter. Dakota Wealth Management now owns 9,279 shares of the information services provider’s stock worth $25,806,000 after buying an additional 1,570 shares during the last quarter. 35.08% of the stock is owned by institutional investors.

About Alphabet

(Get Free Report

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, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.

Further Reading

Analyst Recommendations for Alphabet (NASDAQ:GOOGL)

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