Alphabet (NASDAQ:GOOGL) Price Target Cut to $205.00

Alphabet (NASDAQ:GOOGL) had its price objective cut by equities research analysts at Mizuho from $290.00 to $205.00 in a research report issued on Thursday, BayStreet.CA reports. Mizuho’s price target points to a potential upside of 15.35% from the stock’s current price.

GOOGL has been the subject of several other reports. BMO Capital Markets reiterated an “outperform” rating and set a $222.00 price objective (up from $215.00) on shares of Alphabet in a research note on Wednesday. Jefferies Financial Group upped their price target on Alphabet from $215.00 to $220.00 in a research report on Tuesday, July 9th. Roth Mkm upped their price target on Alphabet from $164.00 to $202.00 and gave the company a “buy” rating in a research report on Friday, April 26th. Wells Fargo & Company upped their price objective on Alphabet from $168.00 to $187.00 and gave the company an “equal weight” rating in a report on Monday, July 8th. Finally, Raymond James upped their price objective on Alphabet from $160.00 to $200.00 and gave the company an “outperform” rating in a report on Friday, April 26th. Six research analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $200.44.

Alphabet Price Performance

Shares of Alphabet stock traded down $3.30 on Thursday, hitting $177.72. The company’s stock had a trading volume of 13,993,920 shares, compared to its average volume of 27,735,154. The company has a market capitalization of $2.20 trillion, a price-to-earnings ratio of 27.27, a price-to-earnings-growth ratio of 1.38 and a beta of 1.05. The firm has a fifty day moving average price of $178.54 and a 200-day moving average price of $158.68. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.15 and a current ratio of 2.15. Alphabet has a 1 year low of $118.22 and a 1 year high of $191.75.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.49 by $0.40. The firm had revenue of $80.54 billion for the quarter, compared to analysts’ expectations of $66.04 billion. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. During the same quarter last year, the company earned $1.17 EPS. As a group, sell-side analysts anticipate that Alphabet will post 7.61 earnings per share for the current fiscal year.

Insider Transactions at Alphabet

In other news, CAO Amie Thuener O’toole sold 682 shares of the business’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 sale, the chief accounting officer now owns 29,284 shares of the company’s stock, valued at approximately $4,880,764.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CAO Amie Thuener O’toole sold 682 shares of the business’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 sale, the chief accounting officer now owns 29,284 shares of the company’s stock, valued at approximately $4,880,764.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John L. Hennessy sold 2,100 shares of Alphabet stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $175.76, for a total value of $369,096.00. Following the transaction, the director now owns 5,891 shares of the company’s stock, valued at $1,035,402.16. The disclosure for this sale can be found here. Insiders have sold 101,988 shares of company stock valued at $17,752,805 in the last quarter. 11.55% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Vermillion & White Wealth Management Group LLC acquired a new position in Alphabet in the 4th quarter valued at $30,000. Tributary Capital Management LLC purchased a new stake in shares of Alphabet during the 1st quarter valued at $30,000. DiNuzzo Private Wealth Inc. purchased a new stake in Alphabet during the 4th quarter worth $38,000. CarsonAllaria Wealth Management Ltd. boosted its position in Alphabet by 59.2% during the 1st quarter. CarsonAllaria Wealth Management Ltd. now owns 293 shares of the information services provider’s stock worth $44,000 after purchasing an additional 109 shares during the period. Finally, Richardson Capital Management LLC boosted its position in Alphabet by 87.5% during the 1st quarter. Richardson Capital Management LLC now owns 300 shares of the information services provider’s stock worth $45,000 after purchasing an additional 140 shares during the period. 40.03% of the stock is currently owned by institutional investors and hedge funds.

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.