Alphabet (NASDAQ:GOOG) Price Target Raised to $440.00 at Roth Capital

Alphabet (NASDAQ:GOOG) had its target price raised by analysts at Roth Capital from $435.00 to $440.00 in a research report issued to clients and investors on Thursday. The brokerage presently has a “buy” rating on the information services provider’s stock. Roth Capital’s target price indicates a potential upside of 39.10% from the stock’s previous close.

GOOG has been the subject of several other research reports. Wolfe Research set a $460.00 price target on shares of Alphabet in a research report on Thursday. JPMorgan Chase & Co. upped their price objective on Alphabet from $395.00 to $460.00 and gave the company an “overweight” rating in a research report on Thursday, April 30th. The Goldman Sachs Group reiterated a “buy” rating and set a $450.00 target price on shares of Alphabet in a research note on Thursday, May 21st. Wells Fargo & Company reduced their target price on Alphabet from $418.00 to $411.00 and set an “overweight” rating for the company in a report on Thursday. Finally, Freedom Capital cut Alphabet from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 4th. Five investment analysts have rated the stock with a Strong Buy rating, thirty have assigned a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $408.27.

Alphabet Stock Down 7.5%

Alphabet stock traded down $25.60 during mid-day trading on Thursday, reaching $316.31. The stock had a trading volume of 18,257,247 shares, compared to its average volume of 21,381,564. The company has a market capitalization of $3.83 trillion, a price-to-earnings ratio of 24.17, a PEG ratio of 1.43 and a beta of 1.23. The company has a 50-day moving average price of $363.69 and a two-hundred day moving average price of $337.49. Alphabet has a one year low of $188.70 and a one year high of $404.47. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.92 and a quick ratio of 1.92.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Thursday, July 23rd. The information services provider reported $9.11 earnings per share for the quarter, beating analysts’ consensus estimates of $2.88 by $6.23. The business had revenue of $119.80 billion during the quarter, compared to analyst estimates of $117.06 billion. Alphabet had a net margin of 37.92% and a return on equity of 38.99%. Alphabet’s revenue was up 24.2% compared to the same quarter last year. During the same period last year, the business earned $2.31 EPS. On average, analysts expect that Alphabet will post 14.34 EPS for the current fiscal year.

Insiders Place Their Bets

In other Alphabet news, major shareholder 2019 Gp L.L.C. Gv sold 87,475 shares of Alphabet stock in a transaction on Friday, May 15th. The shares were sold at an average price of $23.75, for a total value of $2,077,531.25. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Frances Arnold sold 112 shares of the business’s stock in a transaction on Tuesday, June 30th. The stock was sold at an average price of $351.28, for a total transaction of $39,343.36. Following the completion of the sale, the director owned 18,833 shares in the company, valued at approximately $6,615,656.24. The trade was a 0.59% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 159,415 shares of company stock worth $7,672,279 over the last ninety days. 12.99% of the stock is owned by company insiders.

Institutional Investors Weigh In On Alphabet

Hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in Alphabet by 2.0% in the 4th quarter. Vanguard Group Inc. now owns 421,013,782 shares of the information services provider’s stock worth $132,114,125,000 after acquiring an additional 8,128,234 shares during the last quarter. State Street Corp boosted its position in shares of Alphabet by 0.5% during the 4th quarter. State Street Corp now owns 187,102,863 shares of the information services provider’s stock valued at $58,712,878,000 after acquiring an additional 953,790 shares during the last quarter. Auto Owners Insurance Co grew its holdings in shares of Alphabet by 38,409.2% in the fourth quarter. Auto Owners Insurance Co now owns 179,836,276 shares of the information services provider’s stock valued at $5,643,262,000 after purchasing an additional 179,369,280 shares in the last quarter. J. Stern & Co. LLP increased its position in Alphabet by 28,482.8% in the fourth quarter. J. Stern & Co. LLP now owns 112,091,870 shares of the information services provider’s stock worth $35,174,429,000 after purchasing an additional 111,699,704 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its position in Alphabet by 1.1% in the fourth quarter. JPMorgan Chase & Co. now owns 100,602,893 shares of the information services provider’s stock worth $31,569,189,000 after purchasing an additional 1,073,151 shares during the last quarter. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Alphabet News Summary

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet delivered a strong Q2 beat, with revenue, EPS, and cloud growth all topping expectations, reinforcing the strength of Search, YouTube, and Google Cloud. Google quarterly cloud revenue growth beats expectations
• Positive Sentiment: Google Cloud momentum and rising Gemini usage suggest Alphabet’s AI investments are beginning to show returns, which could support longer-term growth. Alphabet Beats on Cloud Revenue, Posts Strong Gemini Usage
• Positive Sentiment: Analyst sentiment remains constructive, with several firms maintaining buy ratings and raising price targets after the earnings report. Tickerreport.com
• Neutral Sentiment: Alphabet also announced new, cheaper Gemini model updates and work on efficiency-improving AI chips, which may help offset future infrastructure costs if execution improves. Google releases three new Gemini models — but no 3.5 Pro
• Negative Sentiment: Investors are worried Alphabet’s AI capex spree is getting too large, especially after the company raised spending guidance and reported negative free cash flow. Alphabet’s cash burn raises alarm for Big Tech as AI spending climbs
• Negative Sentiment: Alphabet also faces added regulatory pressure after the EU hit Google with a roughly $1 billion antitrust fine over Search and Play Store practices. Google hit with $1 billion EU fine, first under landmark rules

Alphabet Company Profile

Alphabet Inc (NASDAQ: GOOG) is a multinational technology holding company headquartered in Mountain View, California. Formed in 2015 through a corporate restructuring of Google, Alphabet serves as the parent to Google LLC and a portfolio of businesses collectively known as “Other Bets.” Google was originally founded in 1998 by Larry Page and Sergey Brin; Alphabet is led by CEO Sundar Pichai, who oversees Google and the broader company while the founders remain prominent shareholders and influential figures in the company’s history.

Alphabet’s core business centers on internet search and advertising, with Google Search and the company’s ad platforms (including Google Ads and AdSense) generating the majority of revenue by connecting advertisers with consumers worldwide.