DA Davidson Lowers Alphabet (NASDAQ:GOOGL) Price Target to $160.00

Alphabet (NASDAQ:GOOGL) had its target price cut by equities research analysts at DA Davidson from $200.00 to $160.00 in a report issued on Monday, MarketBeat.com reports. The brokerage presently has a “neutral” rating on the information services provider’s stock. DA Davidson’s target price suggests a potential upside of 2.36% from the stock’s previous close.

A number of other research firms have also recently weighed in on GOOGL. JPMorgan Chase & Co. reduced their price objective on shares of Alphabet from $220.00 to $180.00 and set an “overweight” rating for the company in a research report on Tuesday, April 8th. Wells Fargo & Company cut their price objective on Alphabet from $184.00 to $167.00 and set an “equal weight” rating for the company in a research note on Monday, March 31st. Stifel Nicolaus raised their target price on Alphabet from $200.00 to $225.00 and gave the company a “buy” rating in a research report on Monday, January 13th. Bank of America restated a “buy” rating and issued a $210.00 price objective on shares of Alphabet in a report on Monday, December 23rd. Finally, Mizuho decreased their price target on shares of Alphabet from $230.00 to $205.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 9th. Ten analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and five have issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $204.72.

Alphabet Stock Performance

Shares of GOOGL stock opened at $156.31 on Monday. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03. Alphabet has a 52-week low of $140.53 and a 52-week high of $207.05. The business has a 50-day simple moving average of $167.17 and a 200-day simple moving average of $176.14. The stock has a market cap of $1.91 trillion, a PE ratio of 19.42, a price-to-earnings-growth ratio of 1.34 and a beta of 1.03.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, beating the consensus estimate of $2.12 by $0.03. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. On average, equities analysts expect that Alphabet will post 8.9 EPS for the current year.

Insider Activity at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the company’s stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $158.56, for a total transaction of $5,153,200.00. Following the completion of the sale, the chief executive officer now directly owns 2,717,696 shares in the company, valued at $430,917,877.76. This represents a 1.18 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Amie Thuener O’toole sold 673 shares of the business’s stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $155.33, for a total value of $104,537.09. Following the sale, the chief accounting officer now owns 15,303 shares of the company’s stock, valued at $2,377,014.99. The trade was a 4.21 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 115,663 shares of company stock valued at $20,286,447. 11.55% of the stock is owned by insiders.

Institutional Investors Weigh In On Alphabet

Several institutional investors have recently bought and sold shares of the business. Bennett Selby Investments LP increased its position in shares of Alphabet by 4.0% during the fourth quarter. Bennett Selby Investments LP now owns 1,354 shares of the information services provider’s stock worth $256,000 after acquiring an additional 52 shares in the last quarter. Macroview Investment Management LLC lifted its stake in Alphabet by 4.2% during the 4th quarter. Macroview Investment Management LLC now owns 1,293 shares of the information services provider’s stock valued at $245,000 after acquiring an additional 52 shares in the last quarter. Conrad Siegel Investment Advisors Inc. grew its stake in shares of Alphabet by 0.5% in the 4th quarter. Conrad Siegel Investment Advisors Inc. now owns 9,845 shares of the information services provider’s stock worth $1,864,000 after acquiring an additional 53 shares in the last quarter. Cornerstone Planning Group LLC grew its position in Alphabet by 2.3% in the 4th quarter. Cornerstone Planning Group LLC now owns 2,381 shares of the information services provider’s stock worth $457,000 after purchasing an additional 53 shares in the last quarter. Finally, Addison Advisors LLC increased its stake in Alphabet by 0.7% in the 4th quarter. Addison Advisors LLC now owns 7,527 shares of the information services provider’s stock valued at $1,425,000 after buying an additional 53 shares during the last quarter. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

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.