Alphabet Inc. (NASDAQ:GOOGL) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Alphabet Inc. (NASDAQ:GOOGL) has been assigned an average recommendation of “Moderate Buy” from the thirty-nine ratings firms that are presently covering the company, Marketbeat.com reports. Seven analysts have rated the stock with a hold recommendation, twenty-nine have issued a buy recommendation and three have assigned a strong buy recommendation to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $201.76.

A number of brokerages have issued reports on GOOGL. TD Securities raised their target price on Alphabet from $200.00 to $220.00 in a research note on Wednesday, July 10th. Jefferies Financial Group lifted their target price on shares of Alphabet from $215.00 to $220.00 in a research note on Tuesday, July 9th. Wedbush reissued an “outperform” rating and issued a $205.00 price target on shares of Alphabet in a research note on Thursday. Truist Financial lifted their price target on shares of Alphabet from $196.00 to $220.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Finally, Citigroup raised their target price on Alphabet from $190.00 to $212.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th.

Alphabet Trading Up 1.6 %

Shares of Alphabet stock opened at $165.27 on Tuesday. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08 and a quick ratio of 2.08. The stock’s 50 day simple moving average is $161.95 and its 200-day simple moving average is $168.51. The stock has a market cap of $2.03 trillion, a P/E ratio of 23.71, a P/E/G ratio of 1.27 and a beta of 1.04. Alphabet has a 1-year low of $120.21 and a 1-year high of $191.75.

Insider Activity at Alphabet

In other news, CAO Amie Thuener O’toole sold 1,367 shares of Alphabet stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $168.84, for a total transaction of $230,804.28. Following the sale, the chief accounting officer now owns 29,183 shares in the company, valued at approximately $4,927,257.72. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CAO Amie Thuener O’toole sold 1,367 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $168.84, for a total transaction of $230,804.28. Following the transaction, the chief accounting officer now directly owns 29,183 shares in the company, valued at approximately $4,927,257.72. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $166.30, for a total transaction of $3,741,750.00. Following the completion of the sale, the chief executive officer now owns 2,106,806 shares of the company’s stock, valued at approximately $350,361,837.80. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 220,426 shares of company stock valued at $35,993,340 in the last ninety days. Insiders own 11.55% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Christopher J. Hasenberg Inc boosted 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 valued at $26,000 after purchasing an additional 60 shares in the last quarter. Tributary Capital Management LLC purchased a new stake in shares of Alphabet in the first quarter valued at approximately $30,000. Kings Path Partners LLC acquired a new position in Alphabet during the second quarter worth $36,000. Denver PWM LLC acquired a new stake in Alphabet in the second quarter valued at $41,000. Finally, CarsonAllaria Wealth Management Ltd. boosted its position in shares of Alphabet by 59.2% during the 1st quarter. CarsonAllaria Wealth Management Ltd. now owns 293 shares of the information services provider’s stock worth $44,000 after purchasing an additional 109 shares in the last quarter. Institutional investors and hedge funds 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.