Alphabet (NASDAQ:GOOGL) PT Raised to $220.00

Alphabet (NASDAQ:GOOGL) had its price objective increased by Truist Financial from $196.00 to $220.00 in a research note published on Wednesday, Marketbeat.com reports. Truist Financial currently has a buy rating on the information services provider’s stock.

Several other equities research analysts have also recently issued reports on the stock. Piper Sandler reissued an “overweight” rating and issued a $200.00 price objective on shares of Alphabet in a research report on Monday, September 30th. Evercore ISI dropped their price objective on Alphabet from $225.00 to $200.00 and set an “outperform” rating on the stock in a research note on Monday, September 16th. TD Securities lifted their target price on Alphabet from $200.00 to $220.00 in a research report on Wednesday, July 10th. Wells Fargo & Company cut their price target on Alphabet from $190.00 to $182.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 2nd. Finally, Tigress Financial lifted their price objective on Alphabet from $210.00 to $220.00 and gave the company a “strong-buy” rating in a report on Thursday, September 26th. Eight analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat, Alphabet has an average rating of “Moderate Buy” and a consensus target price of $201.76.

Alphabet Trading Up 0.3 %

Shares of NASDAQ GOOGL opened at $163.42 on Wednesday. Alphabet has a fifty-two week low of $120.21 and a fifty-two 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 company has a market cap of $2.02 trillion, a price-to-earnings ratio of 25.06, a PEG ratio of 1.21 and a beta of 1.04. The business’s 50 day moving average price is $161.77 and its 200-day moving average price is $168.06.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, topping analysts’ consensus estimates of $1.85 by $0.04. The business had revenue of $84.74 billion for the quarter, compared to analyst estimates of $70.60 billion. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. During the same quarter last year, the firm posted $1.44 earnings per share. On average, sell-side analysts expect that Alphabet will post 7.64 earnings per share for the current year.

Insider Buying and Selling

In related news, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $168.00, for a total transaction of $114,576.00. Following the completion of the transaction, the chief accounting officer now directly owns 31,334 shares in the company, valued at $5,264,112. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $168.00, for a total transaction of $114,576.00. Following the sale, the chief accounting officer now directly owns 31,334 shares of the company’s stock, valued at approximately $5,264,112. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $162.35, for a total value of $3,652,875.00. Following the completion of the transaction, the chief executive officer now directly owns 2,182,385 shares of the company’s stock, valued at approximately $354,310,204.75. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 220,426 shares of company stock worth $35,993,340. 11.55% of the stock is owned by company insiders.

Institutional Investors Weigh In On Alphabet

Hedge funds have recently bought and sold shares of the stock. Confluence Investment Management LLC acquired a new stake in Alphabet in the first quarter valued at approximately $429,000. Strategic Advocates LLC grew its stake in Alphabet by 60.4% in the 1st quarter. Strategic Advocates LLC now owns 22,603 shares of the information services provider’s stock valued at $3,411,000 after acquiring an additional 8,511 shares during the period. Trust Co. of Toledo NA OH increased its holdings in Alphabet by 1.4% in the 1st quarter. Trust Co. of Toledo NA OH now owns 83,089 shares of the information services provider’s stock worth $12,541,000 after acquiring an additional 1,107 shares in the last quarter. Orrstown Financial Services Inc. raised its position in Alphabet by 0.7% during the first quarter. Orrstown Financial Services Inc. now owns 12,295 shares of the information services provider’s stock worth $1,856,000 after acquiring an additional 82 shares during the period. Finally, Advance Capital Management Inc. lifted its holdings in Alphabet by 9.8% during the first quarter. Advance Capital Management Inc. now owns 9,179 shares of the information services provider’s stock valued at $1,385,000 after purchasing an additional 818 shares in the last quarter. Hedge funds and other institutional investors 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.