Cantor Fitzgerald Reiterates Neutral Rating for Alphabet (NASDAQ:GOOGL)

Alphabet (NASDAQ:GOOGL)‘s stock had its “neutral” rating reissued by equities researchers at Cantor Fitzgerald in a research note issued to investors on Wednesday,Benzinga reports. They currently have a $200.00 target price on the information services provider’s stock. Cantor Fitzgerald’s target price suggests a potential upside of 23.31% from the stock’s current price.

Other equities research analysts have also recently issued reports about the stock. Stifel Nicolaus upped their price objective on shares of Alphabet from $200.00 to $225.00 and gave the stock a “buy” rating in a report on Monday, January 13th. Wolfe Research raised their price target on shares of Alphabet from $220.00 to $230.00 and gave the stock an “outperform” rating in a research report on Friday, January 3rd. Morgan Stanley lowered their price target on Alphabet from $215.00 to $210.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 5th. Bank of America reaffirmed a “buy” rating and issued a $210.00 target price on shares of Alphabet in a report on Monday, December 23rd. Finally, Citizens Jmp downgraded shares of Alphabet from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 2nd. Ten equities research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $210.59.

Alphabet Trading Up 1.0 %

Shares of NASDAQ GOOGL traded up $1.53 during mid-day trading on Wednesday, hitting $162.20. 2,996,855 shares of the company traded hands, compared to its average volume of 25,698,458. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03. Alphabet has a 1 year low of $146.08 and a 1 year high of $207.05. The stock has a market capitalization of $1.98 trillion, a price-to-earnings ratio of 20.16, a PEG ratio of 1.34 and a beta of 1.02. The business has a 50 day moving average of $184.35 and a two-hundred day moving average of $176.56.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, beating analysts’ consensus estimates of $2.12 by $0.03. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. On average, sell-side analysts anticipate that Alphabet will post 8.9 earnings per share for the current fiscal year.

Insider Buying and Selling at Alphabet

In other Alphabet news, insider John Kent Walker sold 16,820 shares of Alphabet stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $192.62, for a total transaction of $3,239,868.40. Following the completion of the transaction, the insider now owns 43,981 shares in the company, valued at approximately $8,471,620.22. The trade was a 27.66 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John L. Hennessy sold 200 shares of the firm’s stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $165.53, for a total value of $33,106.00. Following the completion of the transaction, the director now owns 7,813 shares in the company, valued at $1,293,285.89. This represents a 2.50 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 93,048 shares of company stock valued at $17,374,274. 11.55% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Alphabet

Several large investors have recently bought and sold shares of the stock. Compass Planning Associates Inc bought a new stake in Alphabet during the fourth quarter worth $30,000. LMR Partners LLP bought a new stake in shares of Alphabet during the 3rd quarter worth $32,000. E Fund Management Hong Kong Co. Ltd. boosted its holdings in shares of Alphabet by 518.8% in the 4th quarter. E Fund Management Hong Kong Co. Ltd. now owns 198 shares of the information services provider’s stock worth $37,000 after buying an additional 166 shares during the last quarter. Fiduciary Advisors Inc. bought a new position in Alphabet during the fourth quarter valued at about $39,000. Finally, PayPay Securities Corp increased its holdings in Alphabet by 36.1% during the fourth quarter. PayPay Securities Corp now owns 245 shares of the information services provider’s stock worth $46,000 after buying an additional 65 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors.

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.