Alphabet Inc. (NASDAQ:GOOGL) Receives $201.76 Average PT from Analysts

Shares of Alphabet Inc. (NASDAQ:GOOGL) have received an average rating of “Moderate Buy” from the thirty-nine brokerages that are currently covering the stock, Marketbeat.com reports. Seven equities research analysts have rated the stock with a hold recommendation, twenty-nine have assigned a buy recommendation and three have given a strong buy recommendation to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $201.76.

Several equities research analysts have commented on GOOGL shares. Truist Financial raised their price target on shares of Alphabet from $196.00 to $220.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Cantor Fitzgerald restated a “neutral” rating and issued a $190.00 target price on shares of Alphabet in a research report on Monday, October 7th. The Goldman Sachs Group cut their target price on Alphabet from $217.00 to $208.00 and set a “buy” rating on the stock in a research note on Monday, October 14th. Morgan Stanley decreased their price target on Alphabet from $205.00 to $190.00 and set an “overweight” rating for the company in a research note on Tuesday, September 3rd. Finally, Wells Fargo & Company cut their price objective on shares of Alphabet from $190.00 to $182.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 2nd.

Alphabet Trading Down 0.0 %

NASDAQ GOOGL opened at $162.72 on Tuesday. The firm has a market capitalization of $2.01 trillion, a PE ratio of 25.00, a price-to-earnings-growth ratio of 1.21 and a beta of 1.04. Alphabet has a one year low of $120.21 and a one year high of $191.75. The company has a 50-day simple moving average of $161.87 and a 200-day simple moving average of $168.40. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 2.08.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, beating 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 analyst estimates of $70.60 billion. During the same quarter in the previous year, the firm posted $1.44 EPS. On average, equities analysts forecast that Alphabet will post 7.64 earnings per share for the current year.

Insider Buying and Selling

In other 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 transaction, the chief accounting officer now owns 31,334 shares of the company’s stock, valued at approximately $5,264,112. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the business’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 transaction, the chief executive officer now owns 2,106,806 shares of the company’s stock, valued at $350,361,837.80. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $168.00, for a total value of $114,576.00. Following the completion of the sale, the chief accounting officer now directly owns 31,334 shares in the company, valued at approximately $5,264,112. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 220,426 shares of company stock worth $35,993,340. Corporate insiders own 11.55% of the company’s stock.

Institutional Investors Weigh In On Alphabet

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Strategic Wealth Investment Group LLC raised its position in shares of Alphabet by 63.5% during the third quarter. Strategic Wealth Investment Group LLC now owns 101,166 shares of the information services provider’s stock valued at $16,894,000 after buying an additional 39,309 shares during the last quarter. Orrstown Financial Services Inc. increased its stake in Alphabet by 75.2% during the third quarter. Orrstown Financial Services Inc. now owns 21,869 shares of the information services provider’s stock valued at $3,627,000 after acquiring an additional 9,384 shares during the period. Autumn Glory Partners LLC raised its holdings in Alphabet by 4.0% in the 3rd quarter. Autumn Glory Partners LLC now owns 21,444 shares of the information services provider’s stock valued at $3,559,000 after acquiring an additional 832 shares in the last quarter. Arbor Investment Advisors LLC lifted its position in shares of Alphabet by 13.1% in the 3rd quarter. Arbor Investment Advisors LLC now owns 2,016 shares of the information services provider’s stock worth $334,000 after acquiring an additional 234 shares during the period. Finally, TCI Wealth Advisors Inc. grew its holdings in shares of Alphabet by 7.9% during the 3rd quarter. TCI Wealth Advisors Inc. now owns 20,243 shares of the information services provider’s stock worth $3,357,000 after purchasing an additional 1,476 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.