Alphabet (NASDAQ:GOOGL) Stock Price Expected to Rise, Roth Mkm Analyst Says

Alphabet (NASDAQ:GOOGLGet Free Report) had its price objective upped by equities researchers at Roth Mkm from $365.00 to $395.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the information services provider’s stock. Roth Mkm’s price target would indicate a potential upside of 18.60% from the stock’s previous close.

GOOGL has been the topic of a number of other reports. Loop Capital raised shares of Alphabet from a “hold” rating to a “buy” rating and upped their target price for the stock from $260.00 to $320.00 in a research report on Tuesday, November 18th. China Renaissance boosted their price objective on shares of Alphabet from $207.00 to $330.00 and gave the stock a “buy” rating in a research note on Friday, October 31st. CIBC raised their target price on shares of Alphabet to $315.00 in a research note on Monday, October 20th. Morgan Stanley lifted their target price on shares of Alphabet from $270.00 to $330.00 and gave the company an “overweight” rating in a report on Thursday, October 30th. Finally, Argus upped their price target on Alphabet from $330.00 to $365.00 and gave the stock a “buy” rating in a research note on Monday, January 5th. Four research analysts have rated the stock with a Strong Buy rating, forty-four have given a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $344.33.

Check Out Our Latest Research Report on Alphabet

Alphabet Stock Down 2.0%

Shares of NASDAQ:GOOGL opened at $333.04 on Thursday. Alphabet has a 52-week low of $140.53 and a 52-week high of $349.00. The firm has a market capitalization of $4.02 trillion, a P/E ratio of 32.84, a P/E/G ratio of 2.05 and a beta of 1.09. The stock has a 50 day moving average price of $321.32 and a 200-day moving average price of $268.82. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.75 and a current ratio of 1.75.

Alphabet (NASDAQ:GOOGLGet Free Report) last released its quarterly earnings results on Wednesday, February 4th. The information services provider reported $2.82 earnings per share for the quarter, beating the consensus estimate of $2.57 by $0.25. The company had revenue of $113.83 billion for the quarter, compared to analyst estimates of $111.24 billion. Alphabet had a return on equity of 35.00% and a net margin of 32.23%. As a group, equities research analysts anticipate that Alphabet will post 8.9 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Frances Arnold sold 102 shares of the company’s stock in a transaction on Thursday, January 29th. The stock was sold at an average price of $340.00, for a total transaction of $34,680.00. Following the transaction, the director directly owned 18,307 shares of the company’s stock, valued at $6,224,380. This represents a 0.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director John L. Hennessy sold 600 shares of the stock in a transaction on Tuesday, January 13th. The shares were sold at an average price of $337.52, for a total value of $202,512.00. Following the sale, the director directly owned 21,224 shares in the company, valued at $7,163,524.48. This trade represents a 2.75% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 2,035,186 shares of company stock worth $94,458,941. 11.64% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Brighton Jones LLC grew its stake in shares of Alphabet by 3.9% during the 4th quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider’s stock valued at $20,886,000 after purchasing an additional 4,110 shares during the period. Revolve Wealth Partners LLC boosted its holdings in shares of Alphabet by 3.5% in the fourth quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider’s stock worth $2,826,000 after buying an additional 506 shares during the last quarter. B.O.S.S. Retirement Advisors LLC boosted its holdings in shares of Alphabet by 13.9% in the second quarter. B.O.S.S. Retirement Advisors LLC now owns 9,839 shares of the information services provider’s stock worth $1,734,000 after buying an additional 1,200 shares during the last quarter. Precision Wealth Strategies LLC grew its position in Alphabet by 498.8% during the second quarter. Precision Wealth Strategies LLC now owns 10,222 shares of the information services provider’s stock valued at $1,801,000 after buying an additional 8,515 shares during the period. Finally, NRI Wealth Management LC purchased a new stake in Alphabet during the second quarter valued at approximately $225,000. 40.03% of the stock is owned by hedge funds and other institutional investors.

Alphabet News Roundup

Here are the key news stories impacting Alphabet this week:

About Alphabet

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Alphabet Inc is the holding company created in 2015 to organize Google and a portfolio of businesses developing technologies beyond Google’s core internet services. Its principal operations are led by Google, which builds and operates consumer-facing products such as Google Search, YouTube, Android, Chrome, Gmail, Google Maps and Google Workspace, as well as advertising platforms (Google Ads and AdSense) that historically generate the majority of its revenue. Google also develops consumer hardware (Pixel phones, Nest smart-home devices, Chromecast) and developer and distribution platforms such as Google Play.

Beyond Google’s consumer and advertising businesses, Alphabet invests in enterprise and infrastructure offerings through Google Cloud, which provides cloud computing, data analytics and productivity services to businesses and institutions.

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