TD Cowen Boosts Alphabet (NASDAQ:GOOGL) Price Target to $200.00

Alphabet (NASDAQ:GOOGL) had its price objective increased by TD Cowen from $170.00 to $200.00 in a report released on Friday, Benzinga reports. The firm presently has a “buy” rating on the information services provider’s stock. TD Cowen’s target price would indicate a potential upside of 16.73% from the company’s previous close.

Several other equities research analysts also recently weighed in on the stock. Canaccord Genuity Group lifted their price target on shares of Alphabet from $190.00 to $210.00 and gave the company a “buy” rating in a research note on Friday. Raymond James increased their price target on Alphabet from $160.00 to $200.00 and gave the company an “outperform” rating in a research report on Friday. Jefferies Financial Group lifted their target price on shares of Alphabet from $180.00 to $200.00 and gave the stock a “buy” rating in a research report on Friday. Needham & Company LLC lifted their target price on Alphabet from $160.00 to $210.00 and gave the stock a “buy” rating in a research note on Friday. Finally, KeyCorp lifted their price target on shares of Alphabet from $165.00 to $175.00 and gave the stock an “overweight” rating in a report on Monday. Five analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $185.18.

Alphabet Trading Up 9.8 %

NASDAQ GOOGL traded up $15.33 on Friday, reaching $171.33. The company had a trading volume of 47,762,738 shares, compared to its average volume of 30,432,857. The firm has a market cap of $2.13 trillion, a price-to-earnings ratio of 29.70, a P/E/G ratio of 1.47 and a beta of 1.05. The business has a 50 day moving average of $147.22 and a two-hundred day moving average of $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 has a fifty-two week low of $103.54 and a fifty-two week high of $174.71.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data 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 company had revenue of $86.31 billion during the quarter, compared to analysts’ expectations of $70.77 billion. During the same period in the prior year, the company posted $1.05 earnings per share. Analysts forecast that Alphabet will post 6.78 EPS for the current year.

Insider Activity

In other Alphabet news, CAO Amie Thuener O’toole sold 660 shares of Alphabet stock in a transaction that occurred on 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 directly owns 27,920 shares of the company’s stock, valued at $4,009,032.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Alphabet news, CAO Amie Thuener O’toole sold 660 shares of the company’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 completion of the sale, the chief accounting officer now directly owns 27,920 shares in the company, valued at $4,009,032.80. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Frances Arnold sold 230 shares of the 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 sale, the director now owns 15,104 shares of the company’s stock, valued at $2,326,922.24. The disclosure for this sale can be found here. In the last three months, insiders have sold 251,339 shares of company stock worth $36,377,482. 0.88% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Vermillion & White Wealth Management Group LLC purchased a new stake in Alphabet in the 4th quarter worth approximately $30,000. Tributary Capital Management LLC bought a new position in shares of Alphabet during the first quarter valued at approximately $30,000. DiNuzzo Private Wealth Inc. purchased a new stake in Alphabet in the fourth quarter worth $38,000. Meritage Group LP lifted its stake in Alphabet by 1,061.5% in the third quarter. Meritage Group LP now owns 302 shares of the information services provider’s stock worth $40,000 after acquiring an additional 276 shares during the period. Finally, Macroview Investment Management LLC boosted its holdings in Alphabet by 165.8% in the third quarter. Macroview Investment Management LLC now owns 319 shares of the information services provider’s stock valued at $42,000 after acquiring an additional 199 shares in the last quarter. 40.03% of the stock is owned by hedge funds and other institutional investors.

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.