UBS Group Increases Alphabet (NASDAQ:GOOGL) Price Target to $166.00

Alphabet (NASDAQ:GOOGL) had its target price lifted by UBS Group from $150.00 to $166.00 in a research note published on Tuesday morning, Benzinga reports. UBS Group currently has a neutral rating on the information services provider’s stock.

GOOGL has been the topic of several other reports. Citigroup reaffirmed a buy rating and issued a $168.00 price target on shares of Alphabet in a research report on Wednesday, April 10th. Truist Financial decreased their target price on Alphabet from $160.00 to $158.00 and set a buy rating on the stock in a research report on Wednesday, January 31st. Susquehanna upped their price target on Alphabet from $150.00 to $170.00 and gave the company a positive rating in a report on Wednesday, January 31st. Royal Bank of Canada reissued an outperform rating and set a $155.00 price objective on shares of Alphabet in a report on Wednesday, January 31st. Finally, KeyCorp upped their target price on Alphabet from $153.00 to $165.00 and gave the company an overweight rating in a research note on Monday, January 29th. Five investment analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, Alphabet presently has an average rating of Moderate Buy and a consensus price target of $157.97.

Alphabet Stock Performance

Shares of GOOGL opened at $156.01 on Tuesday. The firm has a market cap of $1.94 trillion, a price-to-earnings ratio of 26.90, a price-to-earnings-growth ratio of 1.42 and a beta of 1.05. The company’s fifty day moving average is $146.16 and its 200-day moving average is $140.40. The company has a quick ratio of 2.10, a current ratio of 2.10 and a debt-to-equity ratio of 0.05. Alphabet has a 12 month low of $102.63 and a 12 month high of $160.22.

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

Insider Transactions at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction dated Wednesday, April 17th. The stock was sold at an average price of $157.41, for a total transaction of $3,541,725.00. Following the completion of the sale, the chief executive officer now directly owns 2,303,011 shares of the company’s stock, valued at approximately $362,516,961.51. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction on Wednesday, April 17th. The shares were sold at an average price of $157.41, for a total transaction of $3,541,725.00. Following the completion of the sale, the chief executive officer now owns 2,303,011 shares of the company’s stock, valued at approximately $362,516,961.51. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Ruth Porat sold 48,077 shares of the company’s stock in a transaction on Friday, March 8th. The shares were sold at an average price of $137.22, for a total transaction of $6,597,125.94. Following the sale, the chief financial officer now owns 1,777,106 shares of the company’s stock, valued at approximately $243,854,485.32. The disclosure for this sale can be found here. Insiders sold a total of 251,339 shares of company stock worth $36,377,482 over the last 90 days. 0.88% of the stock is owned by insiders.

Hedge Funds Weigh In On Alphabet

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GOOGL. Live Oak Investment Partners bought a new position in shares of Alphabet during the 4th quarter valued at about $26,000. Vermillion & White Wealth Management Group LLC acquired a new stake in Alphabet during the 4th quarter worth approximately $30,000. Tributary Capital Management LLC bought a new position in Alphabet in the first quarter valued at approximately $30,000. Sanctuary Wealth Management L.L.C. acquired a new position in shares of Alphabet in the fourth quarter valued at approximately $34,000. Finally, Turim 21 Investimentos Ltda. bought a new stake in shares of Alphabet during the third quarter worth $38,000. Institutional investors 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.