Wedbush Increases Alphabet (NASDAQ:GOOGL) Price Target to $205.00

Alphabet (NASDAQ:GOOGL) had its price target raised by research analysts at Wedbush from $175.00 to $205.00 in a research note issued on Friday, Benzinga reports. The firm currently has an “outperform” rating on the information services provider’s stock. Wedbush’s price target points to a potential upside of 31.41% from the stock’s current price.

Other research analysts have also issued reports about the stock. Canaccord Genuity Group boosted their price target on shares of Alphabet from $180.00 to $190.00 and gave the stock a “buy” rating in a research note on Wednesday, April 17th. Needham & Company LLC raised their price target on Alphabet from $160.00 to $210.00 and gave the company a “buy” rating in a report on Friday. UBS Group increased their price objective on Alphabet from $150.00 to $166.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 16th. Jefferies Financial Group boosted their target price on shares of Alphabet from $175.00 to $180.00 and gave the stock a “buy” rating in a research report on Friday, April 19th. Finally, Wolfe Research raised their price objective on shares of Alphabet from $180.00 to $200.00 and gave the company an “outperform” rating in a research note on Friday. Five equities research analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $173.00.

Alphabet Trading Down 2.0 %

NASDAQ GOOGL opened at $156.00 on Friday. Alphabet has a 52 week low of $102.63 and a 52 week high of $160.22. The firm has a 50 day moving average of $147.22 and a two-hundred day moving average 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. The stock has a market capitalization of $1.94 trillion, a PE ratio of 26.90, a price-to-earnings-growth ratio of 1.47 and a beta of 1.05.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Tuesday, January 30th. The information services provider reported $1.64 earnings per share for the quarter, topping the consensus estimate of $1.60 by $0.04. Alphabet had a return on equity of 27.22% and a net margin of 24.01%. The firm had revenue of $86.31 billion during the quarter, compared to analysts’ expectations of $70.77 billion. During the same quarter in the previous year, the business earned $1.05 earnings per share. As a group, research analysts expect that Alphabet will post 6.78 EPS for the current fiscal year.

Insider Activity

In related news, CAO Amie Thuener O’toole sold 660 shares of Alphabet stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $143.59, for a total value of $94,769.40. Following the sale, the chief accounting officer now owns 27,920 shares of the company’s stock, valued at approximately $4,009,032.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Alphabet news, CAO Amie Thuener O’toole sold 660 shares of the firm’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $143.59, for a total transaction of $94,769.40. Following the completion of the sale, the chief accounting officer now owns 27,920 shares of the company’s stock, valued at $4,009,032.80. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Ruth Porat sold 48,077 shares of Alphabet stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $137.22, for a total transaction of $6,597,125.94. Following the completion of the transaction, the chief financial officer now owns 1,777,106 shares of the company’s stock, valued at approximately $243,854,485.32. The disclosure for this sale can be found here. Over the last three months, insiders have sold 251,339 shares of company stock valued at $36,377,482. Company insiders own 0.88% of the company’s stock.

Hedge Funds Weigh In On Alphabet

Hedge funds and other institutional investors have recently bought and sold shares of the company. Vermillion & White Wealth Management Group LLC purchased a new stake in shares of Alphabet during the fourth quarter worth about $30,000. Tributary Capital Management LLC acquired a new stake in shares of Alphabet during the first quarter worth $30,000. DiNuzzo Private Wealth Inc. acquired a new stake in Alphabet during the fourth quarter worth about $38,000. Meritage Group LP lifted its stake in Alphabet by 1,061.5% in the third quarter. Meritage Group LP now owns 302 shares of the information services provider’s stock valued at $40,000 after buying an additional 276 shares during the last quarter. Finally, Macroview Investment Management LLC grew its position in Alphabet by 165.8% in the 3rd quarter. Macroview Investment Management LLC now owns 319 shares of the information services provider’s stock worth $42,000 after purchasing an additional 199 shares during the last quarter. 40.03% of the stock is 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.