Roth Mkm Boosts Alphabet (NASDAQ:GOOGL) Price Target to $212.00

Alphabet (NASDAQ:GOOGL) had its price objective boosted by equities research analysts at Roth Mkm from $206.00 to $212.00 in a research report issued on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the information services provider’s stock. Roth Mkm’s price target suggests a potential upside of 23.90% from the stock’s previous close.

Several other analysts also recently commented on the stock. Guggenheim increased their price objective on shares of Alphabet from $195.00 to $205.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Wedbush reissued an “outperform” rating and set a $205.00 price objective on shares of Alphabet in a research report on Thursday, October 24th. Bank of America increased their price objective on shares of Alphabet from $206.00 to $210.00 and gave the company a “buy” rating in a research report on Wednesday. Morgan Stanley increased their price objective on shares of Alphabet from $190.00 to $205.00 and gave the company an “overweight” rating in a research report on Wednesday. Finally, The Goldman Sachs Group cut their price objective on shares of Alphabet from $217.00 to $208.00 and set a “buy” rating on the stock in a research report on Monday, October 14th. Seven analysts have rated the stock with a hold rating, thirty-one have given a buy rating and four have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Alphabet has a consensus rating of “Moderate Buy” and an average target price of $205.51.

Alphabet Price Performance

Shares of NASDAQ:GOOGL opened at $171.11 on Wednesday. The company has a 50 day moving average of $162.32 and a 200 day moving average of $168.79. The stock has a market cap of $2.11 trillion, a P/E ratio of 26.24, a P/E/G ratio of 1.27 and a beta of 1.04. Alphabet has a 12 month low of $122.68 and a 12 month high of $191.75. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.04.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The company had revenue of $88.27 billion during the quarter, compared to analyst estimates of $72.85 billion. During the same period in the prior year, the business posted $1.55 EPS. As a group, sell-side analysts forecast that Alphabet will post 7.65 EPS for the current fiscal year.

Insider Transactions at Alphabet

In other news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $166.30, for a total transaction of $3,741,750.00. Following the completion of the sale, the chief executive officer now directly owns 2,106,806 shares in the company, valued at approximately $350,361,837.80. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $166.30, for a total transaction of $3,741,750.00. Following the completion of the sale, the chief executive officer now directly owns 2,106,806 shares in the company, valued at approximately $350,361,837.80. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $160.44, for a total value of $109,420.08. Following the completion of the sale, the chief accounting officer now owns 32,017 shares of the company’s stock, valued at $5,136,807.48. 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 ninety days, insiders sold 219,744 shares of company stock worth $35,878,764. 11.55% of the stock is currently owned by insiders.

Institutional Trading of Alphabet

Several institutional investors and hedge funds have recently made changes to their positions in GOOGL. 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 valued at $26,000 after purchasing an additional 60 shares during the last quarter. Kings Path Partners LLC purchased a new position in Alphabet in the second quarter valued at about $36,000. Tributary Capital Management LLC purchased a new position in Alphabet in the first quarter valued at about $30,000. Denver PWM LLC purchased a new position in Alphabet in the second quarter valued at about $41,000. Finally, Quarry LP purchased a new position in Alphabet in the second 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.