Alphabet (NASDAQ:GOOGL) Stock Price Expected to Rise, Morgan Stanley Analyst Says

Alphabet (NASDAQ:GOOGLFree Report) had its target price boosted by Morgan Stanley from $190.00 to $205.00 in a research report released on Wednesday, Benzinga reports. They currently have an overweight rating on the information services provider’s stock.

GOOGL has been the topic of a number of other reports. TD Securities lifted their price target on shares of Alphabet from $200.00 to $220.00 in a research report on Wednesday, July 10th. UBS Group lifted their price objective on shares of Alphabet from $200.00 to $204.00 and gave the company a “neutral” rating in a report on Wednesday, July 24th. Argus increased their price objective on shares of Alphabet from $200.00 to $215.00 and gave the stock a “buy” rating in a research note on Tuesday, July 16th. Royal Bank of Canada raised their target price on shares of Alphabet from $200.00 to $204.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. Finally, Citigroup boosted their price objective on shares of Alphabet from $190.00 to $212.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Seven equities research analysts have rated the stock with a hold rating, thirty have issued a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $205.51.

Check Out Our Latest Report on GOOGL

Alphabet Price Performance

Alphabet stock opened at $174.46 on Wednesday. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04. Alphabet has a 12-month low of $122.68 and a 12-month high of $191.75. The stock has a market cap of $2.16 trillion, a price-to-earnings ratio of 26.76, a P/E/G ratio of 1.27 and a beta of 1.04. The business’s 50-day simple moving average is $162.17 and its 200 day simple moving average is $168.78.

Alphabet (NASDAQ:GOOGLGet Free Report) last released its earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, topping analysts’ consensus estimates of $1.83 by $0.29. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The firm had revenue of $88.27 billion during the quarter, compared to analyst estimates of $72.85 billion. During the same quarter in the previous year, the business earned $1.55 EPS. As a group, research analysts anticipate that Alphabet will post 7.65 earnings per share for the current year.

Insider Buying and Selling at Alphabet

In other news, SVP Prabhakar Raghavan sold 34,257 shares of the firm’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $162.60, for a total transaction of $5,570,188.20. Following the sale, the senior vice president now owns 312,210 shares of the company’s stock, valued at $50,765,346. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Alphabet news, SVP Prabhakar Raghavan sold 34,257 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $162.60, for a total value of $5,570,188.20. Following the completion of the transaction, the senior vice president now directly owns 312,210 shares in the company, valued at $50,765,346. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider John Kent Walker sold 21,467 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $160.35, for a total transaction of $3,442,233.45. Following the sale, the insider now owns 39,334 shares in the company, valued at $6,307,206.90. 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 ninety days, insiders sold 220,426 shares of company stock worth $35,993,340. 11.55% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Alphabet

Hedge funds have recently bought and sold shares of the business. Christopher J. Hasenberg Inc increased its position in shares of Alphabet by 75.0% during the second quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock worth $26,000 after acquiring an additional 60 shares during the period. Tributary Capital Management LLC purchased a new stake in shares of Alphabet during the first quarter valued at about $30,000. Kings Path Partners LLC bought a new stake in shares of Alphabet in the 2nd quarter valued at about $36,000. Denver PWM LLC bought a new position in shares of Alphabet during the 2nd quarter worth approximately $41,000. Finally, CarsonAllaria Wealth Management Ltd. increased its position in shares of Alphabet by 59.2% during the first 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 in the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

About Alphabet

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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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Analyst Recommendations for Alphabet (NASDAQ:GOOGL)

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