Alphabet (NASDAQ:GOOGL) Rating Reiterated by Cantor Fitzgerald

Alphabet (NASDAQ:GOOGL)‘s stock had its “neutral” rating reiterated by equities researchers at Cantor Fitzgerald in a report issued on Monday, Benzinga reports. They currently have a $190.00 price target on the information services provider’s stock. Cantor Fitzgerald’s target price would indicate a potential upside of 16.06% from the stock’s current price.

GOOGL has been the subject of several other research reports. Guggenheim boosted their price target on shares of Alphabet from $195.00 to $205.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Bank of America boosted their target price on shares of Alphabet from $200.00 to $206.00 and gave the stock a “buy” rating in a research note on Wednesday, July 17th. DA Davidson initiated coverage on shares of Alphabet in a research note on Tuesday, September 10th. They issued a “neutral” rating and a $170.00 price target on the stock. Mizuho boosted their price objective on Alphabet from $205.00 to $210.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. Finally, Wells Fargo & Company raised their target price on Alphabet from $187.00 to $190.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 24th. Eight research analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $201.08.

Alphabet Stock Performance

Shares of GOOGL traded up $0.12 during mid-day trading on Monday, reaching $163.71. The company had a trading volume of 4,554,805 shares, compared to its average volume of 27,602,969. The stock has a market capitalization of $2.02 trillion, a P/E ratio of 25.11, a PEG ratio of 1.13 and a beta of 1.04. Alphabet has a 52-week low of $120.21 and a 52-week high of $191.75. The stock has a 50 day moving average of $164.72 and a two-hundred day moving average of $165.79. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.85 by $0.04. The firm had revenue of $84.74 billion during the quarter, compared to analysts’ expectations of $70.60 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. During the same period in the previous year, the business posted $1.44 EPS. On average, analysts expect that Alphabet will post 7.64 earnings per share for the current year.

Insider Buying and Selling

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $160.63, for a total value of $3,614,175.00. Following the sale, the chief executive officer now directly owns 2,114,885 shares of the company’s stock, valued at approximately $339,713,977.55. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction dated Wednesday, September 18th. The stock was 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 of the company’s stock, valued at approximately $339,713,977.55. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Prabhakar Raghavan sold 34,257 shares of the stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $162.60, for a total value of $5,570,188.20. Following the completion of the transaction, the senior vice president now owns 312,210 shares in the company, valued at approximately $50,765,346. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 180,167 shares of company stock worth $29,762,606. Company insiders own 11.55% of the company’s stock.

Hedge Funds Weigh In On Alphabet

Large investors have recently bought and sold shares of the stock. TrinityPoint Wealth LLC grew its position in Alphabet by 1.6% during the 4th quarter. TrinityPoint Wealth LLC now owns 59,125 shares of the information services provider’s stock worth $8,259,000 after purchasing an additional 907 shares during the last quarter. Quest Partners LLC purchased a new position in shares of Alphabet during the fourth quarter worth about $1,533,000. L.M. Kohn & Company increased its position in Alphabet by 3.3% in the 4th quarter. L.M. Kohn & Company now owns 47,079 shares of the information services provider’s stock valued at $6,576,000 after acquiring an additional 1,515 shares during the period. CreativeOne Wealth LLC raised its stake in Alphabet by 12.4% during the 4th quarter. CreativeOne Wealth LLC now owns 34,200 shares of the information services provider’s stock valued at $4,777,000 after acquiring an additional 3,760 shares during the last quarter. Finally, Assetmark Inc. lifted its position in Alphabet by 1.8% during the 4th quarter. Assetmark Inc. now owns 1,824,835 shares of the information services provider’s stock worth $254,911,000 after acquiring an additional 32,084 shares during the period. Institutional investors and hedge funds 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.