Alphabet (NASDAQ:GOOGL) Price Target Raised to $225.00 at Needham & Company LLC

Alphabet (NASDAQ:GOOGL) had its target price boosted by Needham & Company LLC from $210.00 to $225.00 in a research note issued to investors on Monday, MarketBeat reports. The firm currently has a buy rating on the information services provider’s stock.

A number of other research analysts have also issued reports on the company. KeyCorp lifted their target price on Alphabet from $215.00 to $225.00 and gave the stock an “overweight” rating in a report on Friday, January 10th. Morgan Stanley raised their price objective on shares of Alphabet from $205.00 to $215.00 and gave the company an “overweight” rating in a research report on Monday, January 13th. Piper Sandler reiterated an “overweight” rating and issued a $210.00 target price (up from $200.00) on shares of Alphabet in a report on Wednesday, October 30th. Robert W. Baird restated an “outperform” rating and set a $205.00 target price on shares of Alphabet in a report on Tuesday, December 10th. Finally, Roth Mkm upped their price target on Alphabet from $206.00 to $212.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Nine equities research analysts have rated the stock with a hold rating, thirty have given a buy rating and four have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $209.82.

Alphabet Stock Down 4.2 %

GOOGL opened at $191.81 on Monday. The stock’s 50 day moving average price is $186.46 and its 200 day moving average price is $173.57. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95. The stock has a market cap of $2.35 trillion, a P/E ratio of 25.44, a P/E/G ratio of 1.27 and a beta of 0.98. Alphabet has a 12 month low of $130.66 and a 12 month high of $202.29.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, topping the consensus estimate of $1.83 by $0.29. The business had revenue of $88.27 billion during the quarter, compared to the consensus estimate of $72.85 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. During the same quarter in the prior year, the company posted $1.55 earnings per share. As a group, research analysts predict that Alphabet will post 8.02 earnings per share for the current year.

Insider Activity

In related news, CAO Amie Thuener O’toole sold 1,367 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $171.42, for a total transaction of $234,331.14. Following the completion of the transaction, the chief accounting officer now owns 26,349 shares in the company, valued at $4,516,745.58. This trade represents a 4.93 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $177.36, for a total value of $3,990,600.00. Following the completion of the sale, the chief executive officer now owns 2,084,306 shares in the company, valued at $369,672,512.16. This trade represents a 1.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 133,387 shares of company stock worth $24,368,654. 11.55% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Alphabet

A number of large investors have recently bought and sold shares of GOOGL. State Street Corp lifted its position in shares of Alphabet by 0.3% during the third quarter. State Street Corp now owns 222,555,548 shares of the information services provider’s stock worth $36,910,838,000 after purchasing an additional 743,369 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Alphabet by 2.0% during the 3rd quarter. Geode Capital Management LLC now owns 134,030,679 shares of the information services provider’s stock worth $22,154,651,000 after buying an additional 2,626,431 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in Alphabet by 7.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 63,667,407 shares of the information services provider’s stock worth $10,559,240,000 after buying an additional 4,567,275 shares in the last quarter. Fisher Asset Management LLC boosted its position in Alphabet by 2.5% in the 3rd quarter. Fisher Asset Management LLC now owns 49,857,900 shares of the information services provider’s stock valued at $8,268,933,000 after buying an additional 1,237,385 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Alphabet by 1.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 37,233,079 shares of the information services provider’s stock valued at $6,175,106,000 after buying an additional 523,416 shares during the period. 40.03% of the stock is currently owned by institutional investors.

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.