Alphabet (NASDAQ:GOOGL) PT Lowered to $208.00

Alphabet (NASDAQ:GOOGL) had its price objective cut by research analysts at The Goldman Sachs Group from $217.00 to $208.00 in a note issued to investors on Monday, MarketBeat.com reports. The brokerage presently has a “buy” rating on the information services provider’s stock. The Goldman Sachs Group’s target price suggests a potential upside of 25.71% from the company’s current price.

A number of other research analysts also recently commented on the stock. Wells Fargo & Company cut their target price on shares of Alphabet from $190.00 to $182.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 2nd. JPMorgan Chase & Co. boosted their price objective on shares of Alphabet from $200.00 to $208.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. UBS Group upped their target price on Alphabet from $200.00 to $204.00 and gave the stock a “neutral” rating in a report on Wednesday, July 24th. Wolfe Research started coverage on Alphabet in a report on Tuesday, July 16th. They issued an “outperform” rating and a $240.00 price target on the stock. Finally, Evercore ISI decreased their price objective on Alphabet from $225.00 to $200.00 and set an “outperform” rating for the company in a research note on Monday, September 16th. Eight analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $201.13.

Alphabet Price Performance

GOOGL opened at $165.46 on Monday. The business has a fifty day moving average of $161.63 and a 200 day moving average of $168.07. The stock has a market cap of $2.04 trillion, a P/E ratio of 25.38, a PEG 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 has a 52-week low of $120.21 and a 52-week high of $191.75.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, beating analysts’ consensus estimates of $1.85 by $0.04. The company had revenue of $84.74 billion during the quarter, compared to analyst estimates of $70.60 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. During the same quarter last year, the business posted $1.44 EPS. As a group, sell-side analysts anticipate that Alphabet will post 7.64 EPS for the current year.

Insider Activity

In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $168.00, for a total transaction of $114,576.00. Following the completion of the sale, the chief accounting officer now directly owns 31,334 shares in the company, valued at approximately $5,264,112. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $168.00, for a total transaction of $114,576.00. Following the completion of the sale, the chief accounting officer now owns 31,334 shares of the company’s stock, valued at $5,264,112. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider John Kent Walker sold 21,467 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $160.35, for a total transaction of $3,442,233.45. Following the completion of the sale, the insider now owns 39,334 shares of the company’s stock, valued at $6,307,206.90. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 197,926 shares of company stock worth $32,251,590 over the last 90 days. 11.55% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Christopher J. Hasenberg Inc increased its stake in Alphabet by 75.0% during the second 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. Tributary Capital Management LLC purchased a new position in Alphabet during the first quarter worth about $30,000. Kings Path Partners LLC acquired a new stake in shares of Alphabet during the second quarter valued at about $36,000. Denver PWM LLC purchased a new stake in shares of Alphabet in the 2nd quarter valued at approximately $41,000. Finally, CarsonAllaria Wealth Management Ltd. boosted its position in shares of 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. Hedge funds and other 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.