Alphabet (NASDAQ:GOOGL) Price Target Raised to $200.00

Alphabet (NASDAQ:GOOGL) had its price objective raised by stock analysts at JPMorgan Chase & Co. from $165.00 to $200.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage currently has an “overweight” rating on the information services provider’s stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 16.42% from the stock’s previous close.

GOOGL has been the topic of several other research reports. Wells Fargo & Company increased their price objective on shares of Alphabet from $141.00 to $168.00 and gave the stock an “equal weight” rating in a research note on Friday. Evercore ISI raised their target price on shares of Alphabet from $160.00 to $220.00 and gave the stock an “outperform” rating in a report on Friday. Rosenblatt Securities upped their price target on shares of Alphabet from $172.00 to $182.00 and gave the company a “buy” rating in a research report on Friday. Stifel Nicolaus increased their target price on shares of Alphabet from $174.00 to $196.00 and gave the stock a “buy” rating in a research report on Friday. Finally, Redburn Atlantic increased their price target on shares of Alphabet from $150.00 to $165.00 and gave the stock a “buy” rating in a research note on Wednesday, January 31st. Five research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, Alphabet has an average rating of “Moderate Buy” and a consensus price target of $178.32.

Alphabet Trading Up 10.1 %

Shares of NASDAQ GOOGL traded up $15.79 during trading on Friday, hitting $171.79. 35,913,944 shares of the company traded hands, compared to its average volume of 30,280,404. The company has a 50-day moving average price of $147.22 and a 200-day moving average price of $141.16. The company has a quick ratio of 2.10, a current ratio of 2.10 and a debt-to-equity ratio of 0.05. Alphabet has a 1 year low of $103.54 and a 1 year high of $174.71. The firm has a market capitalization of $2.14 trillion, a P/E ratio of 29.48, a P/E/G ratio of 1.47 and a beta of 1.05.

Alphabet (NASDAQ:GOOGL) last issued its earnings results on Tuesday, January 30th. The information services provider reported $1.64 earnings per share (EPS) for the quarter, beating 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 net margin of 24.01% and a return on equity of 27.22%. During the same quarter in the prior year, the business posted $1.05 EPS. On average, equities analysts predict that Alphabet will post 6.78 EPS for the current year.

Insider Activity

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

Institutional Investors Weigh In On Alphabet

Several large investors have recently added to or reduced their stakes in the stock. Chico Wealth RIA purchased a new position in Alphabet during the 3rd quarter worth $330,000. Summit Global Investments raised its stake in shares of Alphabet by 67.7% during the 3rd quarter. Summit Global Investments now owns 241,463 shares of the information services provider’s stock valued at $31,598,000 after buying an additional 97,466 shares during the last quarter. Prentice Wealth Management LLC raised its stake in shares of Alphabet by 18.1% during the 3rd quarter. Prentice Wealth Management LLC now owns 7,140 shares of the information services provider’s stock valued at $934,000 after buying an additional 1,096 shares during the last quarter. Sunflower Bank N.A. increased its stake in shares of Alphabet by 6.3% in the 3rd quarter. Sunflower Bank N.A. now owns 5,951 shares of the information services provider’s stock valued at $779,000 after purchasing an additional 353 shares in the last quarter. Finally, David J Yvars Group increased its stake in shares of Alphabet by 10.3% in the 3rd quarter. David J Yvars Group now owns 4,170 shares of the information services provider’s stock valued at $546,000 after purchasing an additional 390 shares in the last quarter. 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.