Alphabet (NASDAQ:GOOGL) Price Target Raised to $343.00

Alphabet (NASDAQ:GOOGL) had its price objective increased by investment analysts at BMO Capital Markets from $340.00 to $343.00 in a research note issued to investors on Tuesday,MarketScreener reports. The firm currently has an “outperform” rating on the information services provider’s stock. BMO Capital Markets’ price objective points to a potential upside of 11.28% from the company’s previous close.

GOOGL has been the subject of a number of other reports. JMP Securities reiterated a “market outperform” rating and issued a $290.00 target price on shares of Alphabet in a report on Wednesday, October 22nd. Daiwa Capital Markets lifted their price objective on shares of Alphabet from $233.00 to $333.00 and gave the company a “buy” rating in a research note on Thursday, November 6th. Jefferies Financial Group boosted their target price on shares of Alphabet from $285.00 to $320.00 and gave the company a “buy” rating in a research report on Thursday, October 30th. DZ Bank restated a “buy” rating on shares of Alphabet in a report on Thursday, November 20th. Finally, Stifel Nicolaus set a $333.00 price objective on shares of Alphabet in a report on Thursday, October 30th. Four analysts have rated the stock with a Strong Buy rating, forty-one have assigned a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $315.18.

Alphabet Stock Down 0.3%

Shares of GOOGL opened at $308.22 on Tuesday. The stock’s 50-day moving average price is $284.30 and its two-hundred day moving average price is $230.93. The company has a current ratio of 1.75, a quick ratio of 1.75 and a debt-to-equity ratio of 0.06. Alphabet has a 12 month low of $140.53 and a 12 month high of $328.83. The company has a market capitalization of $3.72 trillion, a PE ratio of 30.40, a PEG ratio of 1.79 and a beta of 1.07.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share for the quarter, topping analysts’ consensus estimates of $2.29 by $0.58. The business had revenue of $102.35 billion during the quarter, compared to the consensus estimate of $99.90 billion. Alphabet had a net margin of 32.23% and a return on equity of 35.00%. On average, analysts anticipate that Alphabet will post 8.9 EPS for the current year.

Insiders Place Their Bets

In other news, CAO Amie Thuener O’toole sold 2,778 shares of the business’s stock in a transaction that occurred 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 transaction, the chief accounting officer owned 14,516 shares in the company, valued at $3,629,725.80. The trade was a 16.06% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider John Kent Walker sold 17,816 shares of the stock in a transaction that occurred on Monday, September 29th. The shares were sold at an average price of $247.42, for a total value of $4,408,034.72. Following the sale, the insider directly owned 42,985 shares of the company’s stock, valued at $10,635,348.70. The trade was a 29.30% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 222,750 shares of company stock valued at $60,496,098 in the last three months. 11.55% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Alphabet

Several large investors have recently made changes to their positions in GOOGL. Mirabella Financial Services LLP grew its position in Alphabet by 110.7% during the third quarter. Mirabella Financial Services LLP now owns 97,678 shares of the information services provider’s stock valued at $23,702,000 after buying an additional 51,319 shares during the period. Farmers National Bank boosted its stake in Alphabet by 72.1% in the third quarter. Farmers National Bank now owns 10,242 shares of the information services provider’s stock valued at $2,490,000 after acquiring an additional 4,290 shares during the last quarter. FNY Investment Advisers LLC purchased a new position in Alphabet in the third quarter valued at about $1,096,000. Saranac Partners Ltd bought a new position in shares of Alphabet during the 3rd quarter valued at approximately $10,009,000. Finally, Strategic Investment Solutions Inc. IL increased its stake in shares of Alphabet by 2.9% during the 3rd quarter. Strategic Investment Solutions Inc. IL now owns 2,028 shares of the information services provider’s stock worth $493,000 after purchasing an additional 58 shares during the last quarter. 40.03% of the stock is owned by hedge funds and other 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.