Robert W. Baird Reiterates Outperform Rating for Alphabet (NASDAQ:GOOGL)

Alphabet (NASDAQ:GOOGL)‘s stock had its “outperform” rating reiterated by research analysts at Robert W. Baird in a report issued on Tuesday,Benzinga reports. They presently have a $205.00 price objective on the information services provider’s stock. Robert W. Baird’s price objective would indicate a potential upside of 16.90% from the stock’s previous close.

Other equities research analysts also recently issued reports about the company. Roth Mkm lifted their price objective on Alphabet from $206.00 to $212.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Evercore ISI lifted their price objective on Alphabet from $200.00 to $205.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Morgan Stanley lifted their target price on Alphabet from $190.00 to $205.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Pivotal Research lifted their target price on Alphabet from $215.00 to $225.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Finally, BMO Capital Markets reiterated an “outperform” rating and issued a $217.00 target price (up previously from $215.00) on shares of Alphabet in a research report on Wednesday, October 30th. Seven analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and five have issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $206.03.

Alphabet Price Performance

GOOGL stock traded up $0.86 on Tuesday, reaching $175.37. 25,389,631 shares of the company’s stock were exchanged, compared to its average volume of 27,089,088. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. The firm has a market cap of $2.15 trillion, a PE ratio of 23.26, a P/E/G ratio of 1.24 and a beta of 1.01. Alphabet has a twelve month low of $129.68 and a twelve month high of $191.75. The stock has a fifty day moving average of $169.70 and a 200-day moving average of $170.21.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.83 by $0.29. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The business had revenue of $88.27 billion for the quarter, compared to the consensus estimate of $72.85 billion. During the same period in the prior year, the business earned $1.55 earnings per share. As a group, equities analysts predict that Alphabet will post 8.01 EPS for the current fiscal year.

Insider Activity

In other news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $160.63, for a total transaction of $3,614,175.00. Following the completion of the transaction, the chief executive officer now directly owns 2,114,885 shares in the company, valued at approximately $339,713,977.55. This represents a 1.05 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider John Kent Walker sold 16,802 shares of the business’s stock in a transaction on Friday, September 27th. The stock was sold at an average price of $165.47, for a total transaction of $2,780,226.94. Following the completion of the sale, the insider now directly owns 43,999 shares in the company, valued at approximately $7,280,514.53. This represents a 27.63 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 160,789 shares of company stock worth $27,374,143. Corporate insiders own 11.55% of the company’s stock.

Institutional Trading of Alphabet

Institutional investors have recently bought and sold shares of the company. Christopher J. Hasenberg Inc raised its holdings in shares of Alphabet by 75.0% in the 2nd quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock worth $26,000 after acquiring an additional 60 shares during the last quarter. LMR Partners LLP purchased a new stake in Alphabet in the 3rd quarter valued at about $32,000. Kings Path Partners LLC purchased a new stake in Alphabet in the 2nd quarter valued at about $36,000. Denver PWM LLC purchased a new stake in Alphabet in the 2nd quarter valued at about $41,000. Finally, Quarry LP purchased a new stake in Alphabet in the 2nd quarter valued at about $53,000. Institutional investors own 40.03% of the company’s stock.

About Alphabet

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.