Alphabet Inc. (NASDAQ:GOOGL – Get Free Report) shares reached a new 52-week high during mid-day trading on Friday after Wells Fargo & Company raised their price target on the stock from $141.00 to $168.00. Wells Fargo & Company currently has an equal weight rating on the stock. Alphabet traded as high as $174.71 and last traded at $171.69, with a volume of 21504390 shares changing hands. The stock had previously closed at $156.00.
Several other equities analysts also recently commented on GOOGL. Wedbush increased their target price on shares of Alphabet from $175.00 to $205.00 and gave the stock an “outperform” rating in a research report on Friday. Barclays raised their price target on Alphabet from $173.00 to $200.00 and gave the company an “overweight” rating in a research report on Friday. Truist Financial raised their price target on Alphabet from $158.00 to $170.00 and gave the company a “buy” rating in a research report on Wednesday, April 17th. Mizuho raised their price target on Alphabet from $170.00 to $190.00 and gave the company a “buy” rating in a research report on Friday. Finally, Evercore ISI raised their price target on Alphabet from $160.00 to $220.00 and gave the company an “outperform” rating in a research report on Friday. Five equities research analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, Alphabet has a consensus rating of “Moderate Buy” and a consensus target price of $173.00.
Get Our Latest Stock Analysis on GOOGL
Insider Transactions at Alphabet
Hedge Funds Weigh In On Alphabet
A number of hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in Alphabet by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 493,810,251 shares of the information services provider’s stock valued at $68,980,354,000 after purchasing an additional 6,374,756 shares in the last quarter. FMR LLC grew its holdings in shares of Alphabet by 5.6% during the third quarter. FMR LLC now owns 227,317,469 shares of the information services provider’s stock valued at $29,746,764,000 after buying an additional 12,070,681 shares during the last quarter. Norges Bank acquired a new position in shares of Alphabet during the fourth quarter valued at about $15,441,917,000. Northern Trust Corp grew its holdings in shares of Alphabet by 3.7% during the third quarter. Northern Trust Corp now owns 67,684,197 shares of the information services provider’s stock valued at $8,857,154,000 after buying an additional 2,416,328 shares during the last quarter. Finally, Fisher Asset Management LLC grew its holdings in shares of Alphabet by 3.4% during the fourth quarter. Fisher Asset Management LLC now owns 45,220,857 shares of the information services provider’s stock valued at $6,316,902,000 after buying an additional 1,472,043 shares during the last quarter. Institutional investors own 40.03% of the company’s stock.
Alphabet Price Performance
The stock has a market capitalization of $2.12 trillion, a price-to-earnings ratio of 29.87, a PEG ratio of 1.47 and a beta of 1.05. The business’s fifty day moving average price is $147.22 and its 200-day moving average price is $141.16. 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 (NASDAQ:GOOGL – Get Free Report) last released its quarterly earnings results on Tuesday, January 30th. The information services provider reported $1.64 earnings per share 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 business had revenue of $86.31 billion for the quarter, compared to analysts’ expectations of $70.77 billion. During the same period in the previous year, the company earned $1.05 earnings per share. On average, research analysts forecast that Alphabet Inc. will post 6.78 EPS for the current year.
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.
Read More
- Five stocks we like better than Alphabet
- Technology Stocks Explained: Here’s What to Know About Tech
- 3 Stocks Leading the U.S. Agriculture Comeback
- How to Invest in the FAANG Stocks
- How to Use Put Debit Spreads to Profit From Falling Stocks
- The Significance of Brokerage Rankings in Stock Selection
- Alphabet Changes the Narrative with Its First-Ever Dividend
Receive News & Ratings for Alphabet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alphabet and related companies with MarketBeat.com's FREE daily email newsletter.