Alphabet (NASDAQ:GOOGL) PT Lowered to $215.00 at BMO Capital Markets

Alphabet (NASDAQ:GOOGL) had its price target reduced by analysts at BMO Capital Markets from $222.00 to $215.00 in a note issued to investors on Wednesday, Briefing.com reports. The firm currently has an “outperform” rating on the information services provider’s stock. BMO Capital Markets’ price objective suggests a potential upside of 32.60% from the company’s current price.

Other equities research analysts have also recently issued reports about the company. Mizuho upped their price target on Alphabet from $205.00 to $210.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. JPMorgan Chase & Co. boosted their price objective on Alphabet from $200.00 to $208.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. Tigress Financial boosted their price objective on Alphabet from $210.00 to $220.00 and gave the stock a “strong-buy” rating in a report on Thursday, September 26th. UBS Group boosted their price objective on Alphabet from $200.00 to $204.00 and gave the stock a “neutral” rating in a report on Wednesday, July 24th. Finally, Wells Fargo & Company cut their price objective on Alphabet from $190.00 to $182.00 and set an “equal weight” rating for the company in a report on Wednesday, October 2nd. Eight equities research analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat, Alphabet has a consensus rating of “Moderate Buy” and a consensus price target of $200.95.

Alphabet Stock Performance

Alphabet stock traded down $2.24 during midday trading on Wednesday, reaching $162.14. The stock had a trading volume of 10,159,589 shares, compared to its average volume of 27,212,613. Alphabet has a 12 month low of $120.21 and a 12 month high of $191.75. The firm’s 50-day moving average price is $161.81 and its 200 day moving average price is $167.61. The firm has a market capitalization of $2.00 trillion, a PE ratio of 24.80, a P/E/G ratio of 1.21 and a beta of 1.04. 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 announced its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.85 by $0.04. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The firm had revenue of $84.74 billion for the quarter, compared to analysts’ expectations of $70.60 billion. During the same period in the prior year, the business posted $1.44 earnings per share. As a group, research analysts predict that Alphabet will post 7.63 earnings per share for the current fiscal year.

Insider Transactions at Alphabet

In other news, CAO Amie Thuener O’toole sold 1,367 shares of the stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $168.84, for a total value of $230,804.28. Following the sale, the chief accounting officer now directly owns 29,183 shares of the company’s stock, valued at approximately $4,927,257.72. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $167.07, for a total value of $3,759,075.00. Following the completion of the sale, the chief executive officer now directly owns 2,129,306 shares in the company, valued at approximately $355,743,153.42. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Amie Thuener O’toole sold 1,367 shares of Alphabet stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $168.84, for a total value of $230,804.28. Following the completion of the sale, the chief accounting officer now owns 29,183 shares of the company’s stock, valued at $4,927,257.72. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 217,592 shares of company stock valued at $35,922,911. Insiders own 11.55% of the company’s stock.

Institutional Investors Weigh In On Alphabet

Large investors have recently bought and sold shares of the business. Christopher J. Hasenberg Inc grew its stake in shares of Alphabet by 75.0% during the 2nd quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock valued at $26,000 after purchasing an additional 60 shares during the period. Kings Path Partners LLC bought a new stake in shares of Alphabet during the 2nd quarter valued at about $36,000. Tributary Capital Management LLC bought a new stake in shares of Alphabet during the 1st quarter valued at about $30,000. Denver PWM LLC bought a new stake in shares of Alphabet during the 2nd quarter valued at about $41,000. Finally, Quarry LP bought a new stake in shares of Alphabet during the 2nd quarter valued at about $53,000. 40.03% of the stock is currently owned by institutional investors.

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.