Alphabet (NASDAQ:GOOGL) PT Raised to $175.00

Alphabet (NASDAQ:GOOGL) had its price objective raised by analysts at KeyCorp from $165.00 to $175.00 in a report released on Monday, Benzinga reports. The firm currently has an “overweight” rating on the information services provider’s stock. KeyCorp’s target price points to a potential upside of 10.58% from the stock’s current price.

GOOGL has been the subject of a number of other reports. BMO Capital Markets restated an “outperform” rating and set a $185.00 price target (up from $178.00) on shares of Alphabet in a research report on Wednesday, April 10th. Truist Financial boosted their price target on shares of Alphabet from $158.00 to $170.00 and gave the company a “buy” rating in a research report on Wednesday, April 17th. Redburn Atlantic boosted their price target on shares of Alphabet from $150.00 to $165.00 and gave the company a “buy” rating in a research report on Wednesday, January 31st. Royal Bank of Canada restated an “outperform” rating and set a $155.00 price target on shares of Alphabet in a research report on Wednesday, January 31st. Finally, Wedbush restated an “outperform” rating and set a $175.00 price target on shares of Alphabet in a research report on Wednesday, April 10th. Five investment 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 stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $158.71.

Alphabet Trading Up 1.3 %

Shares of GOOGL stock opened at $158.26 on Monday. Alphabet has a 12-month low of $102.63 and a 12-month high of $160.22. The firm has a market cap of $1.97 trillion, a P/E ratio of 27.29, a PEG ratio of 1.42 and a beta of 1.05. The company has a quick ratio of 2.10, a current ratio of 2.10 and a debt-to-equity ratio of 0.05. The company has a 50 day moving average of $146.69 and a 200-day moving average of $140.93.

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

Insider Activity

In related news, CAO Amie Thuener O’toole sold 660 shares of the business’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $143.59, for a total transaction of $94,769.40. Following the transaction, the chief accounting officer now owns 27,920 shares in the company, valued at $4,009,032.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, CAO Amie Thuener O’toole sold 660 shares of the business’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $143.59, for a total transaction of $94,769.40. Following the transaction, the chief accounting officer now owns 27,920 shares in the company, valued at $4,009,032.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available 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 transaction of $35,433.80. Following the transaction, the director now owns 15,104 shares in the company, valued at approximately $2,326,922.24. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 251,339 shares of company stock valued at $36,377,482. Insiders own 0.88% of the company’s stock.

Hedge Funds Weigh In On Alphabet

Hedge funds and other institutional investors have recently modified their holdings of the stock. IRON Financial LLC grew its holdings in Alphabet by 6.6% in the first quarter. IRON Financial LLC now owns 3,021 shares of the information services provider’s stock worth $456,000 after purchasing an additional 187 shares during the period. Bell Bank grew its holdings in Alphabet by 35.3% in the first quarter. Bell Bank now owns 30,738 shares of the information services provider’s stock worth $4,639,000 after purchasing an additional 8,026 shares during the period. Charter Oak Capital Management LLC grew its holdings in Alphabet by 18.2% in the first quarter. Charter Oak Capital Management LLC now owns 3,560 shares of the information services provider’s stock worth $537,000 after purchasing an additional 547 shares during the period. Summa Corp. grew its holdings in Alphabet by 1.9% in the first quarter. Summa Corp. now owns 7,929 shares of the information services provider’s stock worth $1,197,000 after purchasing an additional 149 shares during the period. Finally, Canal Capital Management LLC grew its holdings in Alphabet by 3.8% in the first quarter. Canal Capital Management LLC now owns 52,905 shares of the information services provider’s stock worth $7,985,000 after purchasing an additional 1,946 shares during the period. Hedge funds and other 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.