Alphabet (NASDAQ:GOOGL) PT Lowered to $200.00 at Evercore ISI

Alphabet (NASDAQ:GOOGL) had its target price decreased by investment analysts at Evercore ISI from $225.00 to $200.00 in a research report issued on Monday, Benzinga reports. The brokerage presently has an “outperform” rating on the information services provider’s stock. Evercore ISI’s target price would suggest a potential upside of 27.02% from the stock’s previous close.

Other analysts also recently issued reports about the stock. UBS Group boosted their price target on shares of Alphabet from $200.00 to $204.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 24th. Wolfe Research assumed coverage on shares of Alphabet in a research report on Tuesday, July 16th. They set an “outperform” rating and a $240.00 price target on the stock. Tigress Financial boosted their price target on shares of Alphabet from $176.00 to $210.00 and gave the stock a “strong-buy” rating in a research report on Friday, May 24th. Wells Fargo & Company boosted their price target on shares of Alphabet from $187.00 to $190.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 24th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Alphabet from $200.00 to $208.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. Eight equities research analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $201.08.

Alphabet Trading Up 1.8 %

NASDAQ GOOGL opened at $157.46 on Monday. Alphabet has a one year low of $120.21 and a one year high of $191.75. The company has a 50-day simple moving average of $167.46 and a 200-day simple moving average of $164.87. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 2.08. The firm has a market capitalization of $1.94 trillion, a PE ratio of 24.15, a price-to-earnings-growth ratio of 1.13 and a beta of 1.04.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.85 by $0.04. The firm had revenue of $84.74 billion for the quarter, compared to the consensus estimate of $70.60 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. During the same period last year, the firm posted $1.44 EPS. On average, equities analysts forecast that Alphabet will post 7.64 earnings per share for the current year.

Insiders Place Their Bets

In other Alphabet news, CAO Amie Thuener O’toole sold 2,835 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $151.53, for a total value of $429,587.55. Following the completion of the sale, the chief accounting officer now directly owns 29,182 shares of the company’s stock, valued at $4,421,948.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $158.68, for a total value of $3,570,300.00. Following the completion of the sale, the chief executive officer now directly owns 2,137,385 shares in the company, valued at $339,160,251.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Amie Thuener O’toole sold 2,835 shares of the business’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $151.53, for a total transaction of $429,587.55. Following the completion of the sale, the chief accounting officer now owns 29,182 shares of the company’s stock, valued at $4,421,948.46. The disclosure for this sale can be found here. Insiders sold 179,367 shares of company stock valued at $30,016,931 over the last ninety days. Corporate insiders own 11.55% of the company’s stock.

Hedge Funds Weigh In On Alphabet

Large investors have recently bought and sold shares of the stock. Christopher J. Hasenberg Inc raised its stake in Alphabet by 75.0% during the 2nd quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock valued at $26,000 after purchasing an additional 60 shares during the last quarter. Kings Path Partners LLC bought a new stake in Alphabet in the 2nd quarter valued at $36,000. Tributary Capital Management LLC bought a new stake in Alphabet in the 1st quarter valued at $30,000. Vermillion & White Wealth Management Group LLC bought a new stake in Alphabet in the 4th quarter valued at $30,000. Finally, Denver PWM LLC bought a new stake in Alphabet in the 2nd quarter valued at $41,000. 40.03% of the stock is currently owned by institutional investors and hedge funds.

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.