Canaccord Genuity Group Increases Alphabet (NASDAQ:GOOGL) Price Target to $190.00

Alphabet (NASDAQ:GOOGL) had its price target raised by Canaccord Genuity Group from $180.00 to $190.00 in a research report released on Wednesday, Benzinga reports. They currently have a buy rating on the information services provider’s stock.

Several other brokerages have also commented on GOOGL. Wedbush reiterated an outperform rating and set a $175.00 price objective on shares of Alphabet in a research report on Wednesday, April 10th. Wells Fargo & Company reduced their price target on shares of Alphabet from $144.00 to $141.00 and set an equal weight rating on the stock in a research report on Wednesday, April 3rd. Mizuho boosted their price objective on shares of Alphabet from $155.00 to $170.00 and gave the stock a buy rating in a report on Wednesday, January 17th. Susquehanna increased their target price on shares of Alphabet from $150.00 to $170.00 and gave the company a positive rating in a report on Wednesday, January 31st. Finally, Truist Financial boosted their price target on shares of Alphabet from $158.00 to $170.00 and gave the stock a buy rating in a research note on Wednesday. Five analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus price target of $158.41.

Alphabet Trading Down 1.2 %

Shares of Alphabet stock opened at $154.09 on Wednesday. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.10 and a quick ratio of 2.10. Alphabet has a 1 year low of $102.63 and a 1 year high of $160.22. The firm has a market cap of $1.92 trillion, a PE ratio of 26.57, a PEG ratio of 1.43 and a beta of 1.05. The company has a 50 day simple moving average of $146.26 and a two-hundred day simple moving average of $140.54.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data on Tuesday, January 30th. The information services provider reported $1.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.60 by $0.04. The company had revenue of $86.31 billion during the quarter, compared to the consensus estimate of $70.77 billion. Alphabet had a net margin of 24.01% and a return on equity of 27.22%. During the same period in the previous year, the firm posted $1.05 EPS. Analysts expect that Alphabet will post 6.78 earnings per share for the current fiscal year.

Insider Transactions at Alphabet

In related news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $132.70, for a total transaction of $2,985,750.00. Following the sale, the chief executive officer now directly owns 2,332,691 shares in the company, valued at $309,548,095.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $132.70, for a total transaction of $2,985,750.00. Following the sale, the chief executive officer now owns 2,332,691 shares in the company, valued at approximately $309,548,095.70. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CAO Amie Thuener O’toole sold 660 shares of the stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $143.59, for a total transaction of $94,769.40. Following the completion of the transaction, the chief accounting officer now owns 27,920 shares of the company’s stock, valued at $4,009,032.80. The disclosure for this sale can be found here. In the last quarter, insiders sold 251,339 shares of company stock valued at $36,377,482. Corporate insiders own 0.88% of the company’s stock.

Institutional Trading of Alphabet

Hedge funds have recently made changes to their positions in the stock. DC Investments Management LLC purchased a new stake in Alphabet during the 1st quarter valued at about $114,000. Bridgefront Capital LLC bought a new position in shares of Alphabet in the first quarter worth approximately $225,000. Worth Asset Management LLC purchased a new stake in shares of Alphabet during the first quarter valued at approximately $206,000. Eudaimonia Advisors LLC increased its position in shares of Alphabet by 15.1% during the first quarter. Eudaimonia Advisors LLC now owns 99 shares of the information services provider’s stock valued at $275,000 after acquiring an additional 13 shares in the last quarter. Finally, Aspire Capital Advisors LLC purchased a new position in Alphabet in the 1st quarter worth approximately $281,000. 40.03% of the stock is owned by institutional investors.

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.