Alphabet (NASDAQ:GOOGL – Free Report) had its target price upped by Bank of America from $206.00 to $210.00 in a research report sent to investors on Wednesday morning, Benzinga reports. The brokerage currently has a buy rating on the information services provider’s stock.
GOOGL has been the topic of a number of other reports. Morgan Stanley raised their target price on shares of Alphabet from $190.00 to $205.00 and gave the stock an “overweight” rating in a research report on Wednesday. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $190.00 target price on shares of Alphabet in a research report on Monday, October 7th. Needham & Company LLC reissued a “buy” rating and set a $210.00 price target on shares of Alphabet in a research report on Wednesday. Wells Fargo & Company decreased their price objective on Alphabet from $190.00 to $182.00 and set an “equal weight” rating for the company in a report on Wednesday, October 2nd. Finally, Guggenheim increased their target price on shares of Alphabet from $195.00 to $205.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Seven research analysts have rated the stock with a hold rating, thirty have assigned a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, Alphabet currently has a consensus rating of “Moderate Buy” and a consensus target price of $205.51.
View Our Latest Report on GOOGL
Alphabet Price Performance
Alphabet (NASDAQ:GOOGL – Get Free Report) last issued its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. The firm had revenue of $88.27 billion during the quarter, compared to analyst estimates of $72.85 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. During the same period in the previous year, the firm earned $1.55 earnings per share. As a group, sell-side analysts anticipate that Alphabet will post 7.65 EPS for the current year.
Insider Buying and Selling
In related news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $168.00, for a total transaction of $114,576.00. Following the completion of the transaction, the chief accounting officer now owns 31,334 shares of the company’s stock, valued at $5,264,112. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $168.00, for a total transaction of $114,576.00. Following the sale, the chief accounting officer now directly owns 31,334 shares of the company’s stock, valued at $5,264,112. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $162.35, for a total value of $3,652,875.00. Following the completion of the transaction, the chief executive officer now directly owns 2,182,385 shares of the company’s stock, valued at $354,310,204.75. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 220,426 shares of company stock worth $35,993,340. 11.55% of the stock is owned by company insiders.
Institutional Trading of Alphabet
Several hedge funds and other institutional investors have recently added to or reduced their stakes in GOOGL. Christopher J. Hasenberg Inc lifted its position in shares of Alphabet by 75.0% during the 2nd quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock valued at $26,000 after buying an additional 60 shares in the last quarter. Tributary Capital Management LLC purchased a new position in Alphabet during the first quarter valued at $30,000. Kings Path Partners LLC acquired a new stake in shares of Alphabet in the second quarter valued at about $36,000. Denver PWM LLC purchased a new stake in shares of Alphabet during the second quarter worth about $41,000. Finally, CarsonAllaria Wealth Management Ltd. raised its position in shares of Alphabet by 59.2% during the 1st quarter. CarsonAllaria Wealth Management Ltd. now owns 293 shares of the information services provider’s stock worth $44,000 after purchasing an additional 109 shares during the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.
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.
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