Alphabet (NASDAQ:GOOGL) Price Target Raised to $180.00

Alphabet (NASDAQ:GOOGL) had its price target upped by research analysts at Jefferies Financial Group from $175.00 to $180.00 in a report released on Friday, Benzinga reports. The firm presently has a “buy” rating on the information services provider’s stock. Jefferies Financial Group’s price target indicates a potential upside of 15.38% from the stock’s previous close.

GOOGL has been the topic of a number of other reports. Truist Financial lifted their price objective on shares of Alphabet from $158.00 to $170.00 and gave the company a “buy” rating in a report on Wednesday. Wolfe Research boosted their price target on shares of Alphabet from $170.00 to $180.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 31st. Susquehanna raised their price objective on Alphabet from $150.00 to $170.00 and gave the company a “positive” rating in a report on Wednesday, January 31st. Rosenblatt Securities dropped their target price on Alphabet from $174.00 to $172.00 and set a “buy” rating on the stock in a report on Wednesday, January 31st. Finally, Wells Fargo & Company decreased their price target on Alphabet from $144.00 to $141.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 3rd. Five equities research analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $158.41.

Alphabet Price Performance

Shares of NASDAQ GOOGL opened at $156.01 on Friday. The company has a fifty day moving average price of $146.16 and a 200 day moving average price of $140.40. The firm has a market cap of $1.94 trillion, a PE ratio of 26.90, a PEG ratio of 1.43 and a beta of 1.05. The company has a current ratio of 2.10, a quick ratio of 2.10 and a debt-to-equity ratio of 0.05. Alphabet has a 1-year low of $102.63 and a 1-year high of $160.22.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data on Tuesday, January 30th. The information services provider reported $1.64 earnings per share for the quarter, topping the consensus estimate of $1.60 by $0.04. Alphabet had a return on equity of 27.22% and a net margin of 24.01%. The company had revenue of $86.31 billion during the quarter, compared to analysts’ expectations of $70.77 billion. During the same period in the prior year, the firm earned $1.05 earnings per share. Research analysts predict that Alphabet will post 6.78 earnings per share for the current fiscal year.

Insider Activity at Alphabet

In other news, CAO Amie Thuener O’toole sold 660 shares of the stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $143.59, for a total transaction of $94,769.40. Following the sale, the chief accounting officer now directly owns 27,920 shares of the company’s stock, valued at approximately $4,009,032.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, CAO Amie Thuener O’toole sold 660 shares of the business’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $143.59, for a total value of $94,769.40. Following the completion of the transaction, the chief accounting officer now directly owns 27,920 shares in the company, valued at approximately $4,009,032.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Frances Arnold sold 230 shares of the stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $154.06, for a total transaction of $35,433.80. Following the sale, the director now owns 15,104 shares in the company, valued at approximately $2,326,922.24. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 251,339 shares of company stock worth $36,377,482. Company insiders own 0.88% of the company’s stock.

Hedge Funds Weigh In On Alphabet

Several hedge funds and other institutional investors have recently modified their holdings of the business. Live Oak Investment Partners bought a new stake in shares of Alphabet during the fourth quarter worth about $26,000. Vermillion & White Wealth Management Group LLC bought a new stake in Alphabet during the 4th quarter worth approximately $30,000. Tributary Capital Management LLC acquired a new position in Alphabet in the 1st quarter valued at approximately $30,000. Sanctuary Wealth Management L.L.C. acquired a new position in shares of Alphabet during the fourth quarter worth $34,000. Finally, Turim 21 Investimentos Ltda. bought a new stake in shares of Alphabet in the third quarter worth $38,000. 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.