Alphabet (NASDAQ:GOOGL) PT Raised to $190.00 at Wells Fargo & Company

Alphabet (NASDAQ:GOOGL) had its price target lifted by equities research analysts at Wells Fargo & Company from $187.00 to $190.00 in a report released on Wednesday, MarketBeat Ratings reports. The brokerage currently has an “equal weight” rating on the information services provider’s stock. Wells Fargo & Company‘s price objective indicates a potential upside of 13.58% from the stock’s previous close.

Several other brokerages have also commented on GOOGL. Loop Capital reaffirmed a “hold” rating and issued a $170.00 price objective on shares of Alphabet in a report on Wednesday, July 3rd. Citigroup lifted their price objective on Alphabet from $168.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, April 26th. Barclays lifted their price objective on Alphabet from $173.00 to $200.00 and gave the stock an “overweight” rating in a report on Friday, April 26th. Canaccord Genuity Group lifted their price objective on Alphabet from $190.00 to $210.00 and gave the stock a “buy” rating in a report on Friday, April 26th. Finally, Morgan Stanley lifted their price objective on Alphabet from $195.00 to $210.00 and gave the stock an “overweight” rating in a report on Tuesday. Six research analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Alphabet presently has an average rating of “Moderate Buy” and an average target price of $203.74.

Alphabet Trading Down 3.1 %

GOOGL opened at $167.28 on Wednesday. The stock has a market cap of $2.07 trillion, a PE ratio of 25.66, a PEG ratio of 1.36 and a beta of 1.05. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.05. The business has a 50 day moving average of $179.22 and a 200-day moving average of $160.15. Alphabet has a 52 week low of $120.21 and a 52 week high of $191.75.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, beating analysts’ consensus estimates of $1.85 by $0.04. Alphabet had a return on equity of 30.96% and a net margin of 26.70%. The company had revenue of $84.74 billion during the quarter, compared to analyst estimates of $70.60 billion. During the same quarter last year, the company earned $1.44 EPS. Equities research analysts predict that Alphabet will post 7.62 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $166.80, for a total transaction of $3,753,000.00. Following the completion of the transaction, the chief executive officer now directly owns 2,280,511 shares in the company, valued at approximately $380,389,234.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $166.80, for a total value of $3,753,000.00. Following the completion of the sale, the chief executive officer now directly owns 2,280,511 shares of the company’s stock, valued at approximately $380,389,234.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Prabhakar Raghavan sold 3,262 shares of Alphabet stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $183.99, for a total transaction of $600,175.38. Following the completion of the sale, the senior vice president now directly owns 9 shares of the company’s stock, valued at $1,655.91. The disclosure for this sale can be found here. In the last three months, insiders sold 122,388 shares of company stock worth $21,497,609. Company insiders own 11.55% of the company’s stock.

Institutional Trading of Alphabet

A number of institutional investors have recently added to or reduced their stakes in GOOGL. Christopher J. Hasenberg Inc lifted its holdings in Alphabet by 75.0% in the 2nd quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock worth $26,000 after buying an additional 60 shares in the last quarter. Vermillion & White Wealth Management Group LLC acquired a new position in Alphabet in the 4th quarter worth $30,000. Tributary Capital Management LLC acquired a new position in Alphabet in the 1st quarter worth $30,000. DiNuzzo Private Wealth Inc. acquired a new position in Alphabet in the 4th quarter worth $38,000. Finally, CarsonAllaria Wealth Management Ltd. lifted its holdings in Alphabet by 59.2% in the 1st quarter. CarsonAllaria Wealth Management Ltd. now owns 293 shares of the information services provider’s stock worth $44,000 after buying an additional 109 shares in the last quarter. 40.03% of the stock is owned by hedge funds and other 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.