Alphabet (NASDAQ:GOOGL) Receives Hold Rating from Loop Capital

Alphabet (NASDAQ:GOOGLGet Free Report)‘s stock had its “hold” rating reaffirmed by stock analysts at Loop Capital in a research note issued on Tuesday, Marketbeat Ratings reports. They currently have a $190.00 target price on the information services provider’s stock, up from their previous target price of $165.00. Loop Capital’s target price would indicate a potential downside of 3.11% from the company’s previous close.

GOOGL has been the topic of a number of other research reports. UBS Group upped their target price on shares of Alphabet from $192.00 to $202.00 and gave the company a “neutral” rating in a research note on Thursday, July 24th. KeyCorp lifted their target price on Alphabet from $215.00 to $230.00 and gave the stock an “overweight” rating in a research report on Thursday, July 24th. Susquehanna boosted their price target on Alphabet from $220.00 to $225.00 and gave the company a “positive” rating in a report on Thursday, July 24th. JPMorgan Chase & Co. raised their price objective on Alphabet from $200.00 to $232.00 and gave the stock an “overweight” rating in a research note on Thursday, July 24th. Finally, Bank of America boosted their target price on shares of Alphabet from $210.00 to $217.00 and gave the company a “buy” rating in a research note on Thursday, July 24th. Ten equities research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $211.53.

View Our Latest Analysis on GOOGL

Alphabet Trading Up 0.7%

Shares of GOOGL opened at $196.09 on Tuesday. Alphabet has a one year low of $140.53 and a one year high of $207.05. The stock has a 50-day moving average price of $179.76 and a 200 day moving average price of $173.12. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. The company has a market capitalization of $2.37 trillion, a P/E ratio of 20.88, a P/E/G ratio of 1.32 and a beta of 1.01.

Alphabet (NASDAQ:GOOGLGet Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.15 by $0.16. The business had revenue of $96,428,000 billion during the quarter, compared to analyst estimates of $93.60 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. Sell-side analysts forecast that Alphabet will post 8.9 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $178.52, for a total value of $5,801,900.00. Following the completion of the sale, the chief executive officer owned 2,559,892 shares in the company, valued at $456,991,919.84. This represents a 1.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider John Kent Walker sold 23,820 shares of Alphabet stock in a transaction on Monday, August 4th. The shares were sold at an average price of $194.70, for a total value of $4,637,754.00. Following the transaction, the insider owned 42,999 shares in the company, valued at $8,371,905.30. This represents a 35.65% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 273,219 shares of company stock worth $49,474,273. Corporate insiders own 11.64% of the company’s stock.

Hedge Funds Weigh In On Alphabet

A number of large investors have recently made changes to their positions in GOOGL. Guardian Wealth Management Inc. increased its stake in shares of Alphabet by 242.9% in the first quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider’s stock worth $26,000 after acquiring an additional 119 shares during the last quarter. IMA Advisory Services Inc. acquired a new stake in shares of Alphabet during the 1st quarter valued at about $28,000. von Borstel & Associates Inc. bought a new stake in shares of Alphabet in the 1st quarter valued at approximately $28,000. NBZ Investment Advisors LLC increased its holdings in Alphabet by 85.7% in the first quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider’s stock worth $30,000 after buying an additional 90 shares during the last quarter. Finally, CarsonAllaria Wealth Management Ltd. lifted its stake in Alphabet by 36.4% in the second quarter. CarsonAllaria Wealth Management Ltd. now owns 251 shares of the information services provider’s stock valued at $44,000 after acquiring an additional 67 shares during the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

About Alphabet

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Alphabet (NASDAQ:GOOGL)

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