Alphabet (NASDAQ:GOOG) Given New $174.00 Price Target at Stifel Nicolaus

Alphabet (NASDAQ:GOOG) had its price target lifted by investment analysts at Stifel Nicolaus from $154.00 to $174.00 in a research report issued on Tuesday, Benzinga reports. The brokerage presently has a “buy” rating on the information services provider’s stock. Stifel Nicolaus’ price objective points to a potential upside of 11.30% from the company’s current price.

GOOG has been the topic of several other reports. Raymond James boosted their target price on Alphabet from $150.00 to $160.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 24th. Morgan Stanley restated an “overweight” rating and set a $165.00 target price on shares of Alphabet in a research note on Thursday, April 11th. Susquehanna lifted their price target on Alphabet from $150.00 to $170.00 and gave the stock a “positive” rating in a research report on Wednesday, January 31st. Finally, Oppenheimer lifted their price target on Alphabet from $172.00 to $185.00 and gave the stock an “outperform” rating in a research report on Monday, April 8th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $159.86.

Alphabet Trading Down 1.8 %

Shares of NASDAQ:GOOG opened at $156.33 on Tuesday. Alphabet has a 12-month low of $103.27 and a 12-month high of $161.70. The business’s fifty day simple moving average is $146.73 and its 200-day simple moving average is $141.34. The company has a market capitalization of $1.94 trillion, a PE ratio of 26.95, a P/E/G ratio of 1.47 and a beta of 1.05. The company has a current ratio of 2.10, a quick ratio of 2.10 and a debt-to-equity ratio of 0.05.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Tuesday, January 30th. The information services provider reported $1.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.60 by $0.04. Alphabet had a return on equity of 27.22% and a net margin of 24.01%. The business had revenue of $86.31 billion for the quarter, compared to the consensus estimate of $85.28 billion. During the same period last year, the business posted $1.05 EPS. The business’s revenue was up 13.5% compared to the same quarter last year. As a group, equities research analysts predict that Alphabet will post 6.78 earnings per share for the current fiscal year.

Insider Activity

In other news, CAO Amie Thuener O’toole sold 660 shares of the business’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $143.59, for a total value 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 approximately $4,009,032.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CAO Amie Thuener O’toole sold 660 shares of the business’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $143.59, for a total value 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 approximately $4,009,032.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Frances Arnold sold 230 shares of the business’s stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $154.06, for a total value of $35,433.80. Following the completion of the transaction, the director now directly owns 15,104 shares of the company’s stock, valued at approximately $2,326,922.24. The disclosure for this sale can be found here. Insiders sold a total of 251,339 shares of company stock valued at $36,033,907 in the last quarter. 12.99% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Alphabet

A number of large investors have recently bought and sold shares of the business. Courier Capital LLC raised its holdings in Alphabet by 0.7% in the 1st quarter. Courier Capital LLC now owns 92,502 shares of the information services provider’s stock worth $14,084,000 after purchasing an additional 636 shares during the period. Fifth Third Wealth Advisors LLC raised its holdings in Alphabet by 46.5% in the 1st quarter. Fifth Third Wealth Advisors LLC now owns 21,531 shares of the information services provider’s stock worth $3,278,000 after purchasing an additional 6,831 shares during the period. Hengehold Capital Management LLC raised its holdings in Alphabet by 17.7% in the 1st quarter. Hengehold Capital Management LLC now owns 5,019 shares of the information services provider’s stock worth $764,000 after purchasing an additional 753 shares during the period. Cypress Wealth Services LLC raised its holdings in Alphabet by 3.7% in the 1st quarter. Cypress Wealth Services LLC now owns 16,402 shares of the information services provider’s stock worth $2,497,000 after purchasing an additional 586 shares during the period. Finally, Towerpoint Wealth LLC raised its holdings in Alphabet by 44.3% in the 1st quarter. Towerpoint Wealth LLC now owns 6,777 shares of the information services provider’s stock worth $1,032,000 after purchasing an additional 2,079 shares during the period. Institutional investors and hedge funds own 27.26% 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.