Alphabet (NASDAQ:GOOGL) Price Target Raised to $315.00

Alphabet (NASDAQ:GOOGL) had its target price increased by CIBC to $315.00 in a research report report published on Monday morning,MarketScreener reports.

Other equities research analysts have also issued research reports about the company. Tigress Financial raised their price target on Alphabet from $240.00 to $280.00 and gave the stock a “strong-buy” rating in a research report on Friday, September 5th. Rosenblatt Securities raised their target price on shares of Alphabet from $191.00 to $224.00 and gave the stock a “neutral” rating in a report on Wednesday, September 3rd. UBS Group lifted their price target on shares of Alphabet from $237.00 to $255.00 and gave the company a “neutral” rating in a research note on Thursday, October 9th. Moffett Nathanson increased their price objective on shares of Alphabet from $230.00 to $295.00 and gave the stock a “buy” rating in a research report on Thursday, September 25th. Finally, The Goldman Sachs Group restated a “buy” rating and set a $288.00 price objective on shares of Alphabet in a report on Tuesday, October 14th. Four analysts have rated the stock with a Strong Buy rating, thirty-four have assigned a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $259.12.

Alphabet Trading Up 0.5%

Shares of NASDAQ GOOGL opened at $251.69 on Monday. Alphabet has a twelve month low of $140.53 and a twelve month high of $257.33. The stock has a market cap of $3.04 trillion, a price-to-earnings ratio of 26.80, a P/E/G ratio of 1.69 and a beta of 1.00. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. The company’s fifty day moving average is $234.60 and its 200-day moving average is $193.72.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, topping the consensus estimate of $2.15 by $0.16. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The business had revenue of $96.43 billion for the quarter, compared to the consensus estimate of $93.60 billion. Equities research analysts predict 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 business’s stock in a transaction dated Wednesday, September 17th. The shares were sold at an average price of $249.50, for a total transaction of $8,108,750.00. Following the sale, the chief executive officer directly owned 2,397,392 shares of the company’s stock, valued at $598,149,304. The trade was a 1.34% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CAO Amie Thuener O’toole sold 2,778 shares of the stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $245.00, for a total transaction of $680,610.00. Following the transaction, the chief accounting officer owned 17,293 shares of the company’s stock, valued at approximately $4,236,785. This represents a 13.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 246,150 shares of company stock valued at $55,805,379. Corporate insiders own 11.64% of the company’s stock.

Institutional Investors Weigh In On Alphabet

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Breakwater Investment Management lifted its holdings in Alphabet by 1.0% during the third quarter. Breakwater Investment Management now owns 4,228 shares of the information services provider’s stock valued at $1,028,000 after purchasing an additional 41 shares in the last quarter. Wealth Alliance Advisory Group LLC raised its position in shares of Alphabet by 1.0% during the 3rd quarter. Wealth Alliance Advisory Group LLC now owns 4,045 shares of the information services provider’s stock valued at $983,000 after purchasing an additional 41 shares during the period. Kooman & Associates lifted its stake in shares of Alphabet by 3.3% during the 3rd quarter. Kooman & Associates now owns 1,343 shares of the information services provider’s stock valued at $326,000 after buying an additional 43 shares in the last quarter. Contravisory Investment Management Inc. boosted its holdings in Alphabet by 2.9% in the 3rd quarter. Contravisory Investment Management Inc. now owns 1,572 shares of the information services provider’s stock worth $382,000 after buying an additional 44 shares during the period. Finally, Wallington Asset Management LLC increased its stake in Alphabet by 1.4% in the 3rd quarter. Wallington Asset Management LLC now owns 3,324 shares of the information services provider’s stock worth $808,000 after buying an additional 45 shares in the last quarter. Institutional investors 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.