Alphabet (NASDAQ:GOOGL) Given New $210.00 Price Target at Royal Bank of Canada

Alphabet (NASDAQ:GOOGL) had its price objective upped by Royal Bank of Canada from $204.00 to $210.00 in a research report released on Wednesday morning, Benzinga reports. Royal Bank of Canada currently has an outperform rating on the information services provider’s stock.

A number of other equities research analysts have also issued reports on the company. Argus raised their price target on Alphabet from $200.00 to $215.00 and gave the stock a “buy” rating in a research note on Tuesday, July 16th. Scotiabank raised Alphabet to a “strong-buy” rating in a research note on Friday, October 11th. Wolfe Research started coverage on Alphabet in a research note on Tuesday, July 16th. They set an “outperform” rating and a $240.00 price target for the company. Evercore ISI decreased their price target on Alphabet from $225.00 to $200.00 and set an “outperform” rating for the company in a research note on Monday, September 16th. Finally, Jefferies Financial Group raised their price target on Alphabet from $215.00 to $220.00 in a research note on Tuesday, July 9th. Seven investment analysts have rated the stock with a hold rating, thirty have issued a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $205.51.

Alphabet Price Performance

NASDAQ:GOOGL opened at $174.46 on Wednesday. The firm has a market capitalization of $2.16 trillion, a price-to-earnings ratio of 26.76, a PEG ratio of 1.27 and a beta of 1.04. Alphabet has a 1 year low of $122.68 and a 1 year high of $191.75. The business has a 50 day simple moving average of $162.17 and a 200-day simple moving average of $168.78. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08 and a quick ratio of 2.08.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.83 by $0.29. The business had revenue of $88.27 billion during the quarter, compared to analyst estimates of $72.85 billion. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. During the same period last year, the company earned $1.55 EPS. Equities analysts forecast that Alphabet will post 7.65 EPS for the current year.

Insider Buying and Selling

In other Alphabet news, CAO Amie Thuener O’toole sold 2,835 shares of Alphabet stock in a transaction dated 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 approximately $4,421,948.46. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $162.35, for a total transaction of $3,652,875.00. Following the completion of the sale, the chief executive officer now owns 2,182,385 shares of the company’s stock, valued at approximately $354,310,204.75. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Amie Thuener O’toole sold 2,835 shares of Alphabet stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $151.53, for a total value of $429,587.55. Following the sale, the chief accounting officer now directly owns 29,182 shares of the company’s stock, valued at approximately $4,421,948.46. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 220,426 shares of company stock worth $35,993,340 in the last ninety days. 11.55% of the stock is owned by insiders.

Hedge Funds Weigh In On Alphabet

Institutional investors and hedge funds have recently modified their holdings of the stock. Christopher J. Hasenberg Inc lifted its holdings in shares of Alphabet by 75.0% in the 2nd quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock valued at $26,000 after buying an additional 60 shares during the period. Kings Path Partners LLC acquired a new position in shares of Alphabet in the 2nd quarter valued at about $36,000. Tributary Capital Management LLC acquired a new position in shares of Alphabet in the 1st quarter valued at about $30,000. Denver PWM LLC purchased a new position in shares of Alphabet in the 2nd quarter valued at about $41,000. Finally, Quarry LP purchased a new position in shares of Alphabet in the 2nd quarter valued at about $53,000. Institutional investors and hedge funds own 40.03% of the company’s stock.

Alphabet Company Profile

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.