Alphabet (NASDAQ:GOOGL) Given New $205.00 Price Target at Oppenheimer

Alphabet (NASDAQ:GOOGL) had its price objective increased by investment analysts at Oppenheimer from $185.00 to $205.00 in a report released on Friday, Benzinga reports. The brokerage currently has an “outperform” rating on the information services provider’s stock. Oppenheimer’s price target would indicate a potential upside of 20.08% from the stock’s previous close.

A number of other equities analysts have also commented on GOOGL. Wells Fargo & Company lifted their price objective on Alphabet from $141.00 to $168.00 and gave the stock an “equal weight” rating in a research note on Friday. Evercore ISI lifted their target price on Alphabet from $160.00 to $220.00 and gave the stock an “outperform” rating in a research report on Friday. Wolfe Research lifted their target price on Alphabet from $180.00 to $200.00 and gave the stock an “outperform” rating in a research report on Friday. Stifel Nicolaus lifted their target price on Alphabet from $174.00 to $196.00 and gave the stock a “buy” rating in a research report on Friday. Finally, JMP Securities lifted their target price on Alphabet from $160.00 to $200.00 and gave the stock a “market outperform” rating in a research report on Friday. Five research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, Alphabet currently has a consensus rating of “Moderate Buy” and a consensus price target of $187.82.

Alphabet Stock Up 9.4 %

NASDAQ GOOGL traded up $14.72 during trading on Friday, hitting $170.72. 49,616,376 shares of the company traded hands, compared to its average volume of 30,449,654. Alphabet has a 12 month low of $103.54 and a 12 month high of $174.71. The business has a fifty day simple moving average of $147.22 and a 200 day simple moving average of $141.16. The company has a current ratio of 2.10, a quick ratio of 2.10 and a debt-to-equity ratio of 0.05. The company has a market capitalization of $2.12 trillion, a P/E ratio of 29.54, a PEG ratio of 1.47 and a beta of 1.05.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data on Tuesday, January 30th. The information services provider reported $1.64 EPS for the quarter, topping analysts’ consensus estimates of $1.60 by $0.04. The business had revenue of $86.31 billion for the quarter, compared to analyst estimates of $70.77 billion. Alphabet had a return on equity of 27.22% and a net margin of 24.01%. During the same period in the previous year, the company posted $1.05 earnings per share. As a group, sell-side analysts predict that Alphabet will post 6.78 EPS for the current year.

Insider Buying and Selling at Alphabet

In related news, Director Frances Arnold sold 230 shares of the company’s stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $154.06, for a total value of $35,433.80. Following the completion of the sale, the director now owns 15,104 shares in the company, valued at approximately $2,326,922.24. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, CAO Amie Thuener O’toole sold 660 shares of the company’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $143.59, for a total value 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 sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Frances Arnold sold 230 shares of the company’s stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $154.06, for a total transaction of $35,433.80. Following the completion of the sale, the director now directly owns 15,104 shares in the company, valued at $2,326,922.24. The disclosure for this sale can be found here. In the last 90 days, insiders sold 251,339 shares of company stock worth $36,377,482. Insiders own 0.88% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Chico Wealth RIA acquired a new stake in shares of Alphabet during the 3rd quarter worth approximately $330,000. Summit Global Investments grew its stake in shares of Alphabet by 67.7% in the third quarter. Summit Global Investments now owns 241,463 shares of the information services provider’s stock worth $31,598,000 after purchasing an additional 97,466 shares during the last quarter. Prentice Wealth Management LLC grew its stake in shares of Alphabet by 18.1% in the third quarter. Prentice Wealth Management LLC now owns 7,140 shares of the information services provider’s stock worth $934,000 after purchasing an additional 1,096 shares during the last quarter. Sunflower Bank N.A. grew its stake in shares of Alphabet by 6.3% in the third quarter. Sunflower Bank N.A. now owns 5,951 shares of the information services provider’s stock worth $779,000 after purchasing an additional 353 shares during the last quarter. Finally, David J Yvars Group lifted its holdings in Alphabet by 10.3% in the third quarter. David J Yvars Group now owns 4,170 shares of the information services provider’s stock valued at $546,000 after buying an additional 390 shares during the period. 40.03% of the stock is 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.