Alphabet (NASDAQ:GOOGL) Price Target Raised to $175.00

Alphabet (NASDAQ:GOOGL) had its price target increased by KeyCorp from $165.00 to $175.00 in a report released on Monday, 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. BMO Capital Markets reaffirmed an outperform rating and set a $185.00 target price (up from $178.00) on shares of Alphabet in a research report on Wednesday, April 10th. Citigroup reaffirmed a buy rating and set a $168.00 target price on shares of Alphabet in a research report on Wednesday, April 10th. Barclays dropped their target price on Alphabet from $180.00 to $173.00 and set an overweight rating on the stock in a research report on Wednesday, January 31st. Rosenblatt Securities lowered their price objective on Alphabet from $174.00 to $172.00 and set a buy rating for the company in a report on Wednesday, January 31st. Finally, Needham & Company LLC reissued a buy rating and issued a $160.00 price objective on shares of Alphabet in a report on Wednesday, January 31st. Five research 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. Based on data from MarketBeat.com, the stock has an average rating of Moderate Buy and an average price target of $158.71.

Alphabet Trading Up 0.5 %

Shares of GOOGL opened at $159.13 on Monday. The stock’s 50-day moving average is $146.96 and its two-hundred day moving average is $141.06. The stock has a market cap of $1.98 trillion, a PE ratio of 27.44, a P/E/G ratio of 1.44 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 debt-to-equity ratio of 0.05, a current ratio of 2.10 and a quick ratio of 2.10.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Tuesday, January 30th. The information services provider reported $1.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.60 by $0.04. Alphabet had a return on equity of 27.22% and a net margin of 24.01%. The business had revenue of $86.31 billion for the quarter, compared to analyst estimates of $70.77 billion. During the same period in the previous year, the company earned $1.05 earnings per share. Equities analysts forecast that Alphabet will post 6.78 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction that occurred on Wednesday, April 17th. The stock was sold at an average price of $157.41, for a total value of $3,541,725.00. Following the completion of the sale, the chief executive officer now directly owns 2,303,011 shares in the company, valued at $362,516,961.51. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction on Wednesday, April 17th. The stock was sold at an average price of $157.41, for a total value of $3,541,725.00. Following the transaction, the chief executive officer now owns 2,303,011 shares of the company’s stock, valued at $362,516,961.51. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Prabhakar Raghavan sold 3,258 shares of the company’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $155.97, for a total value of $508,150.26. Following the completion of the transaction, the senior vice president now directly owns 144,685 shares in the company, valued at approximately $22,566,519.45. The disclosure for this sale can be found here. Insiders sold 251,339 shares of company stock worth $36,377,482 over the last ninety days. Company insiders own 0.88% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. RWQ Financial Management Services Inc. raised its stake in Alphabet by 8.2% during the 4th quarter. RWQ Financial Management Services Inc. now owns 61,499 shares of the information services provider’s stock valued at $8,591,000 after purchasing an additional 4,664 shares during the period. Ballast Advisors LLC raised its stake in Alphabet by 9.6% during the 3rd quarter. Ballast Advisors LLC now owns 15,747 shares of the information services provider’s stock valued at $2,061,000 after purchasing an additional 1,385 shares during the period. Quantum Financial Advisors LLC raised its stake in Alphabet by 8.0% during the 3rd quarter. Quantum Financial Advisors LLC now owns 7,623 shares of the information services provider’s stock valued at $998,000 after purchasing an additional 564 shares during the period. Acadian Asset Management LLC raised its stake in Alphabet by 2.4% during the 3rd quarter. Acadian Asset Management LLC now owns 4,416,533 shares of the information services provider’s stock valued at $577,908,000 after purchasing an additional 104,366 shares during the period. Finally, NatWest Group plc raised its stake in Alphabet by 239.0% during the 4th quarter. NatWest Group plc now owns 100,793 shares of the information services provider’s stock valued at $14,080,000 after purchasing an additional 71,057 shares during the period. 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.