Arete Issues Positive Forecast for Alphabet (NASDAQ:GOOGL) Stock Price

Alphabet (NASDAQ:GOOGL) had its price target hoisted by Arete from $300.00 to $380.00 in a report issued on Tuesday,MarketScreener reports. The firm currently has a “buy” rating on the information services provider’s stock. Arete’s target price indicates a potential upside of 19.61% from the stock’s previous close.

Several other research analysts also recently weighed in on the stock. Rosenblatt Securities upped their price target on shares of Alphabet from $224.00 to $279.00 and gave the stock a “neutral” rating in a research report on Thursday, October 30th. Tigress Financial increased their target price on Alphabet from $240.00 to $280.00 and gave the company a “strong-buy” rating in a report on Friday, September 5th. Weiss Ratings restated a “buy (b)” rating on shares of Alphabet in a research report on Wednesday, October 8th. CIBC boosted their price target on Alphabet to $315.00 in a research report on Monday, October 20th. Finally, Barclays reissued an “overweight” rating and issued a $315.00 price objective (up from $250.00) on shares of Alphabet in a research note on Thursday, October 30th. Four research analysts have rated the stock with a Strong Buy rating, forty-one have given a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat, Alphabet has a consensus rating of “Moderate Buy” and an average target price of $310.98.

Alphabet Trading Up 0.9%

Shares of NASDAQ:GOOGL opened at $317.69 on Tuesday. The business’s 50 day moving average price is $270.48 and its 200-day moving average price is $220.62. Alphabet has a 1 year low of $140.53 and a 1 year high of $328.83. The firm has a market capitalization of $3.83 trillion, a price-to-earnings ratio of 31.34, a price-to-earnings-growth ratio of 1.86 and a beta of 1.05. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Wednesday, October 29th. The information services provider reported $2.87 EPS for the quarter, topping the consensus estimate of $2.29 by $0.58. The company had revenue of $102.35 billion during the quarter, compared to analyst estimates of $99.90 billion. Alphabet had a net margin of 32.23% and a return on equity of 36.08%. On average, equities research analysts forecast that Alphabet will post 8.9 earnings per share for the current fiscal year.

Insider Activity at Alphabet

In related news, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction that occurred on Wednesday, October 15th. The stock was sold at an average price of $250.15, for a total value of $8,129,875.00. Following the completion of the transaction, the chief executive officer directly owned 2,369,619 shares in the company, valued at approximately $592,760,192.85. This represents a 1.35% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Amie Thuener O’toole sold 2,778 shares of the firm’s stock in a transaction on Wednesday, October 15th. The stock was sold at an average price of $250.05, for a total value of $694,638.90. Following the sale, the chief accounting officer directly owned 14,516 shares of the company’s stock, valued at approximately $3,629,725.80. This trade represents a 16.06% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 225,072 shares of company stock worth $58,074,027. Insiders own 11.64% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the company. Groupama Asset Managment lifted its stake in Alphabet by 7.3% during the 3rd quarter. Groupama Asset Managment now owns 891,182 shares of the information services provider’s stock worth $216,646,000 after acquiring an additional 60,861 shares in the last quarter. Payne Capital Management LLC grew its holdings in shares of Alphabet by 2.5% in the third quarter. Payne Capital Management LLC now owns 1,969 shares of the information services provider’s stock valued at $479,000 after purchasing an additional 48 shares in the last quarter. Investment Research Partners LLC purchased a new stake in Alphabet during the 3rd quarter worth approximately $3,714,000. Cambria Investment Management L.P. increased its stake in Alphabet by 236.7% during the 3rd quarter. Cambria Investment Management L.P. now owns 18,699 shares of the information services provider’s stock worth $4,546,000 after buying an additional 13,146 shares during the period. Finally, Lantern Wealth Advisors LLC lifted its holdings in Alphabet by 65.2% during the 3rd quarter. Lantern Wealth Advisors LLC now owns 25,435 shares of the information services provider’s stock worth $6,183,000 after buying an additional 10,041 shares in the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Company Profile

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.