Alphabet (NASDAQ:GOOGL) PT Raised to $220.00 at TD Securities

Alphabet (NASDAQ:GOOGLGet Free Report) had its price objective raised by equities researchers at TD Securities from $200.00 to $220.00 in a research note issued to investors on Wednesday, BayStreet.CA reports. TD Securities’ price target indicates a potential upside of 14.96% from the company’s current price.

GOOGL has been the subject of several other reports. Jefferies Financial Group raised their price objective on shares of Alphabet from $215.00 to $220.00 in a report on Tuesday. Morgan Stanley reissued an “overweight” rating and set a $195.00 price target on shares of Alphabet in a research report on Wednesday, May 15th. Bank of America restated a “buy” rating and issued a $200.00 price objective on shares of Alphabet in a report on Tuesday, June 11th. Barclays increased their target price on Alphabet from $173.00 to $200.00 and gave the stock an “overweight” rating in a research note on Friday, April 26th. Finally, JPMorgan Chase & Co. raised their price target on shares of Alphabet from $165.00 to $200.00 and gave the company an “overweight” rating in a report on Friday, April 26th. Six research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Alphabet currently has an average rating of “Moderate Buy” and a consensus price target of $195.06.

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Alphabet Price Performance

Alphabet stock traded up $2.39 during mid-day trading on Wednesday, reaching $191.37. The company had a trading volume of 7,235,828 shares, compared to its average volume of 28,041,791. Alphabet has a fifty-two week low of $115.35 and a fifty-two week high of $191.40. The business has a fifty day simple moving average of $176.41 and a 200 day simple moving average of $156.91. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.05. The company has a market cap of $2.36 trillion, a P/E ratio of 29.30, a P/E/G ratio of 1.42 and a beta of 1.05.

Alphabet (NASDAQ:GOOGLGet Free Report) last posted its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share for the quarter, topping analysts’ consensus estimates of $1.49 by $0.40. The business had revenue of $80.54 billion for the quarter, compared to the consensus estimate of $66.04 billion. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. During the same period in the prior year, the business earned $1.17 EPS. On average, equities research analysts predict that Alphabet will post 7.6 earnings per share for the current year.

Insider Buying and Selling

In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $166.67, for a total transaction of $113,668.94. Following the completion of the sale, the chief accounting officer now owns 29,284 shares of the company’s stock, valued at $4,880,764.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $166.67, for a total transaction of $113,668.94. Following the completion of the transaction, the chief accounting officer now owns 29,284 shares in the company, valued at $4,880,764.28. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director John L. Hennessy sold 800 shares of the company’s stock in a transaction dated Friday, April 12th. The stock was sold at an average price of $159.56, for a total transaction of $127,648.00. Following the completion of the sale, the director now directly owns 7,991 shares in the company, valued at approximately $1,275,043.96. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 123,788 shares of company stock worth $21,143,403. Corporate insiders own 11.55% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of GOOGL. RWQ Financial Management Services Inc. increased its stake in shares of Alphabet by 8.2% in the 4th quarter. RWQ Financial Management Services Inc. now owns 61,499 shares of the information services provider’s stock valued at $8,591,000 after acquiring an additional 4,664 shares during the last quarter. Picton Mahoney Asset Management grew its position in Alphabet by 55.4% in the fourth quarter. Picton Mahoney Asset Management now owns 214,443 shares of the information services provider’s stock valued at $29,956,000 after purchasing an additional 76,410 shares in the last quarter. Robbins Farley raised its holdings in Alphabet by 0.8% during the fourth quarter. Robbins Farley now owns 15,006 shares of the information services provider’s stock worth $2,096,000 after acquiring an additional 118 shares in the last quarter. Nebula Research & Development LLC bought a new stake in Alphabet during the fourth quarter worth $787,000. Finally, CKW Financial Group raised its holdings in shares of Alphabet by 5.8% in the 1st quarter. CKW Financial Group now owns 13,830 shares of the information services provider’s stock valued at $2,150,000 after purchasing an additional 760 shares during the period. Institutional investors and hedge funds own 40.03% of the company’s stock.

Alphabet Company Profile

(Get Free Report)

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.

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