UBS Group Boosts Alphabet (NASDAQ:GOOGL) Price Target to $166.00

Alphabet (NASDAQ:GOOGL) had its price objective boosted by UBS Group from $150.00 to $166.00 in a research note published on Tuesday morning, Benzinga reports. They currently have a neutral rating on the information services provider’s stock.

GOOGL has been the subject of several other research reports. Barclays cut their target price on Alphabet from $180.00 to $173.00 and set an overweight rating for the company in a research note on Wednesday, January 31st. Wolfe Research boosted their price objective on shares of Alphabet from $170.00 to $180.00 and gave the company an outperform rating in a research note on Wednesday, January 31st. Royal Bank of Canada reiterated an outperform rating and issued a $155.00 target price on shares of Alphabet in a research note on Wednesday, January 31st. Roth Mkm reduced their price target on shares of Alphabet from $166.00 to $164.00 and set a buy rating for the company in a research report on Wednesday, January 31st. Finally, Truist Financial decreased their price target on shares of Alphabet from $160.00 to $158.00 and set a buy rating on the stock in a report on Wednesday, January 31st. Five analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus target price of $158.41.

Alphabet Stock Performance

Shares of GOOGL stock opened at $154.09 on Tuesday. The firm’s 50 day moving average is $146.26 and its 200 day moving average is $140.54. The stock has a market capitalization of $1.92 trillion, a P/E ratio of 26.57, a PEG ratio of 1.43 and a beta of 1.05. Alphabet has a 12 month low of $102.63 and a 12 month high of $160.22. The company has a current ratio of 2.10, a quick ratio of 2.10 and a debt-to-equity ratio of 0.05.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Tuesday, January 30th. The information services provider reported $1.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.60 by $0.04. The firm had revenue of $86.31 billion for the quarter, compared to the consensus estimate of $70.77 billion. Alphabet had a return on equity of 27.22% and a net margin of 24.01%. During the same quarter in the prior year, the business posted $1.05 earnings per share. On average, sell-side analysts anticipate that Alphabet will post 6.78 earnings per share for the current year.

Insider Transactions at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $132.70, for a total value of $2,985,750.00. Following the sale, the chief executive officer now owns 2,332,691 shares of the company’s stock, valued at approximately $309,548,095.70. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $132.70, for a total transaction of $2,985,750.00. Following the completion of the transaction, the chief executive officer now owns 2,332,691 shares of the company’s stock, valued at approximately $309,548,095.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Amie Thuener O’toole sold 660 shares of the stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $143.59, for a total value of $94,769.40. Following the completion of the sale, the chief accounting officer now owns 27,920 shares of the company’s stock, valued at approximately $4,009,032.80. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 251,339 shares of company stock worth $36,377,482. Insiders own 0.88% of the company’s stock.

Institutional Trading of Alphabet

Large investors have recently added to or reduced their stakes in the stock. Maryland State Retirement & Pension System raised its holdings in Alphabet by 0.6% in the 1st quarter. Maryland State Retirement & Pension System now owns 464,818 shares of the information services provider’s stock worth $71,898,000 after purchasing an additional 2,754 shares in the last quarter. Kesler Norman & Wride LLC raised its stake in Alphabet by 164.0% in the first quarter. Kesler Norman & Wride LLC now owns 18,267 shares of the information services provider’s stock worth $2,757,000 after buying an additional 11,348 shares in the last quarter. FORVIS Wealth Advisors LLC lifted its holdings in Alphabet by 32.9% in the first quarter. FORVIS Wealth Advisors LLC now owns 99,625 shares of the information services provider’s stock worth $15,036,000 after buying an additional 24,672 shares during the period. Horizon Bancorp Inc. IN boosted its position in Alphabet by 4.1% during the 1st quarter. Horizon Bancorp Inc. IN now owns 2,193 shares of the information services provider’s stock valued at $331,000 after acquiring an additional 87 shares in the last quarter. Finally, GenTrust LLC bought a new position in shares of Alphabet in the 1st quarter worth approximately $755,000. Institutional investors 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.