Pivotal Research Raises Alphabet (NASDAQ:GOOGL) Price Target to $225.00

Alphabet (NASDAQ:GOOGL) had its target price increased by analysts at Pivotal Research from $215.00 to $225.00 in a note issued to investors on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the information services provider’s stock. Pivotal Research’s price target suggests a potential upside of 31.49% from the stock’s previous close.

Several other analysts have also issued reports on the company. UBS Group upped their target price on Alphabet from $200.00 to $204.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 24th. Tigress Financial upped their target price on Alphabet from $210.00 to $220.00 and gave the stock a “strong-buy” rating in a research note on Thursday, September 26th. The Goldman Sachs Group dropped their price objective on Alphabet from $217.00 to $208.00 and set a “buy” rating for the company in a research note on Monday, October 14th. Morgan Stanley increased their price objective on Alphabet from $190.00 to $205.00 and gave the company an “overweight” rating in a research note on Wednesday. Finally, Needham & Company LLC restated a “buy” rating and set a $210.00 target price on shares of Alphabet in a report on Wednesday. Seven equities research analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and four have assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $205.51.

Alphabet Price Performance

GOOGL opened at $171.11 on Wednesday. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08 and a quick ratio of 2.08. The company has a market capitalization of $2.11 trillion, a price-to-earnings ratio of 26.24, a P/E/G ratio of 1.27 and a beta of 1.04. The firm’s fifty day moving average price is $162.32 and its two-hundred day moving average price is $168.79. Alphabet has a 1 year low of $122.68 and a 1 year high of $191.75.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, topping analysts’ consensus estimates of $1.83 by $0.29. The company had revenue of $88.27 billion for the quarter, compared to the consensus estimate of $72.85 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 firm earned $1.55 EPS. As a group, analysts anticipate that Alphabet will post 7.65 earnings per share for the current fiscal year.

Insider Activity

In related news, SVP Prabhakar Raghavan sold 34,257 shares of Alphabet stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $162.60, for a total transaction of $5,570,188.20. Following the sale, the senior vice president now owns 312,210 shares of the company’s stock, valued at approximately $50,765,346. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $162.35, for a total value of $3,652,875.00. Following the sale, the chief executive officer now owns 2,182,385 shares of the company’s stock, valued at $354,310,204.75. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Prabhakar Raghavan sold 34,257 shares of Alphabet stock in a transaction that occurred on Thursday, August 15th. The stock was 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 of the company’s stock, valued at approximately $50,765,346. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 219,744 shares of company stock valued at $35,878,764 in the last ninety days. Corporate insiders own 11.55% of the company’s stock.

Hedge Funds Weigh In On Alphabet

A number of institutional investors and hedge funds have recently modified their holdings of GOOGL. MorganRosel Wealth Management LLC grew its stake in Alphabet by 3.6% in the second quarter. MorganRosel Wealth Management LLC now owns 1,620 shares of the information services provider’s stock worth $295,000 after purchasing an additional 57 shares in the last quarter. Hengehold Capital Management LLC grew its stake in Alphabet by 0.8% in the second quarter. Hengehold Capital Management LLC now owns 7,224 shares of the information services provider’s stock worth $1,316,000 after purchasing an additional 60 shares in the last quarter. Christopher J. Hasenberg Inc grew its stake in Alphabet by 75.0% in the second quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock worth $26,000 after purchasing an additional 60 shares in the last quarter. First PREMIER Bank grew its stake in Alphabet by 3.8% in the third quarter. First PREMIER Bank now owns 1,655 shares of the information services provider’s stock worth $275,000 after purchasing an additional 61 shares in the last quarter. Finally, MKT Advisors LLC grew its stake in Alphabet by 0.8% in the third quarter. MKT Advisors LLC now owns 7,363 shares of the information services provider’s stock worth $1,221,000 after purchasing an additional 62 shares in the last quarter. 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.