Alphabet (NASDAQ:GOOGL) Price Target Raised to $300.00

Alphabet (NASDAQ:GOOGL) had its price objective upped by Oppenheimer from $270.00 to $300.00 in a research note published on Monday morning,MarketScreener reports. Oppenheimer currently has an outperform rating on the information services provider’s stock.

Several other equities research analysts have also recently commented on the stock. Loop Capital reiterated a “hold” rating and issued a $190.00 price target (up from $165.00) on shares of Alphabet in a research report on Tuesday, August 5th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Alphabet in a research note on Wednesday, September 3rd. HSBC started coverage on shares of Alphabet in a research note on Tuesday, October 7th. They set a “buy” rating and a $285.00 target price for the company. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $288.00 price target on shares of Alphabet in a report on Tuesday, October 14th. Finally, BMO Capital Markets set a $294.00 price objective on Alphabet and gave the stock an “outperform” rating in a research note on Thursday, October 9th. Four equities research analysts have rated the stock with a Strong Buy rating, thirty-four have given a Buy rating and ten have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $259.12.

Alphabet Stock Performance

Shares of NASDAQ GOOGL opened at $251.69 on Monday. Alphabet has a 1 year low of $140.53 and a 1 year high of $257.33. The firm has a market cap of $3.04 trillion, a P/E ratio of 26.80, a PEG ratio of 1.69 and a beta of 1.00. The stock has a fifty day moving average price of $234.60 and a two-hundred day moving average price of $193.72. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, topping analysts’ consensus estimates of $2.15 by $0.16. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The company had revenue of $96.43 billion for the quarter, compared to the consensus estimate of $93.60 billion. Research analysts forecast that Alphabet will post 8.9 EPS for the current fiscal year.

Insider Activity at Alphabet

In other news, insider John Kent Walker sold 23,820 shares of the stock in a transaction that occurred 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 completion of the sale, the insider directly owned 42,999 shares of the company’s stock, valued at $8,371,905.30. This represents a 35.65% 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, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction that occurred on Wednesday, September 17th. The shares were sold at an average price of $249.50, for a total transaction of $8,108,750.00. Following the transaction, the chief executive officer directly owned 2,397,392 shares in the company, valued at $598,149,304. The trade was a 1.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 246,150 shares of company stock valued at $55,805,379. Company insiders own 11.64% of the company’s stock.

Institutional Investors Weigh In On Alphabet

Several institutional investors have recently made changes to their positions in the company. Sather Financial Group Inc increased its holdings in Alphabet by 3.2% in the third quarter. Sather Financial Group Inc now owns 23,278 shares of the information services provider’s stock worth $5,659,000 after buying an additional 721 shares during the last quarter. Pachira Investments Inc. grew its position in Alphabet by 3.3% in the third quarter. Pachira Investments Inc. now owns 5,195 shares of the information services provider’s stock worth $1,263,000 after acquiring an additional 168 shares in the last quarter. Index Fund Advisors Inc. increased its stake in shares of Alphabet by 13.8% during the 3rd quarter. Index Fund Advisors Inc. now owns 5,053 shares of the information services provider’s stock worth $1,228,000 after purchasing an additional 614 shares during the last quarter. Capital Planning LLC raised its holdings in shares of Alphabet by 2.1% during the 3rd quarter. Capital Planning LLC now owns 2,419 shares of the information services provider’s stock valued at $588,000 after purchasing an additional 50 shares in the last quarter. Finally, McIlrath & Eck LLC lifted its stake in shares of Alphabet by 4.7% in the 3rd quarter. McIlrath & Eck LLC now owns 10,172 shares of the information services provider’s stock valued at $2,473,000 after purchasing an additional 459 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.

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.