Alphabet (NASDAQ:GOOGL) PT Raised to $220.00

Alphabet (NASDAQ:GOOGL) had its price objective raised by stock analysts at Tigress Financial from $210.00 to $220.00 in a note issued to investors on Thursday, Benzinga reports. The firm currently has a “strong-buy” rating on the information services provider’s stock. Tigress Financial’s target price indicates a potential upside of 34.19% from the stock’s current price.

Other analysts have also recently issued reports about the company. Evercore ISI lowered their target price on Alphabet from $225.00 to $200.00 and set an “outperform” rating for the company in a research note on Monday, September 16th. Argus raised their price target on shares of Alphabet from $200.00 to $215.00 and gave the stock a “buy” rating in a research note on Tuesday, July 16th. Guggenheim raised their price target on shares of Alphabet from $195.00 to $205.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. UBS Group raised their price target on shares of Alphabet from $200.00 to $204.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 24th. Finally, Roth Mkm reaffirmed a “buy” rating and set a $206.00 price target on shares of Alphabet in a research note on Thursday, August 29th. Eight research analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Alphabet currently has a consensus rating of “Moderate Buy” and a consensus target price of $201.35.

Alphabet Price Performance

NASDAQ GOOGL opened at $163.95 on Thursday. The business has a 50 day simple moving average of $163.11 and a 200 day simple moving average of $166.11. Alphabet has a 52-week low of $120.21 and a 52-week high of $191.75. 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 stock has a market cap of $2.03 trillion, a price-to-earnings ratio of 25.15, a PEG ratio of 1.21 and a beta of 1.04.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.85 by $0.04. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The business had revenue of $84.74 billion during the quarter, compared to analysts’ expectations of $70.60 billion. During the same period in the prior year, the business earned $1.44 EPS. Analysts anticipate that Alphabet will post 7.63 earnings per share for the current fiscal year.

Insider Activity

In other news, SVP Prabhakar Raghavan sold 3,262 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $183.99, for a total value of $600,175.38. Following the completion of the transaction, the senior vice president now owns 9 shares of the company’s stock, valued at $1,655.91. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $183.47, for a total transaction of $125,126.54. Following the transaction, the chief accounting officer now directly owns 30,650 shares in the company, valued at approximately $5,623,355.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Prabhakar Raghavan sold 3,262 shares of the stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $183.99, for a total value of $600,175.38. Following the transaction, the senior vice president now owns 9 shares in the company, valued at $1,655.91. The disclosure for this sale can be found here. Insiders sold 180,867 shares of company stock valued at $29,878,106 over the last quarter. 11.55% of the stock is owned by company insiders.

Hedge Funds Weigh In On Alphabet

A number of institutional investors and hedge funds have recently modified their holdings of GOOGL. Christopher J. Hasenberg Inc raised its position in shares of Alphabet by 75.0% during the second quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock worth $26,000 after purchasing an additional 60 shares during the period. Kings Path Partners LLC purchased a new stake in Alphabet in the 2nd quarter valued at $36,000. Tributary Capital Management LLC purchased a new stake in Alphabet in the 1st quarter valued at $30,000. Vermillion & White Wealth Management Group LLC purchased a new stake in Alphabet in the 4th quarter valued at $30,000. Finally, Denver PWM LLC purchased a new stake in Alphabet in the 2nd quarter valued at $41,000. 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.