Alphabet (NASDAQ:GOOGL) Stock Price Expected to Rise, Loop Capital Analyst Says

Alphabet (NASDAQ:GOOGLGet Free Report) had its target price lifted by research analysts at Loop Capital from $320.00 to $355.00 in a research note issued on Monday,MarketScreener reports. The firm currently has a “buy” rating on the information services provider’s stock. Loop Capital’s price target would suggest a potential upside of 11.58% from the company’s current price.

Other analysts also recently issued reports about the company. Roth Mkm lifted their target price on Alphabet from $365.00 to $395.00 and gave the stock a “buy” rating in a research report on Thursday, February 5th. Needham & Company LLC boosted their price objective on shares of Alphabet from $330.00 to $400.00 and gave the company a “buy” rating in a research report on Thursday, February 5th. Susquehanna raised their target price on shares of Alphabet from $225.00 to $350.00 and gave the stock a “positive” rating in a research report on Thursday, October 30th. Wedbush lifted their price target on shares of Alphabet from $360.00 to $370.00 and gave the company an “outperform” rating in a research note on Thursday, February 5th. Finally, The Goldman Sachs Group reissued a “buy” rating and issued a $375.00 price objective (up previously from $330.00) on shares of Alphabet in a research note on Tuesday, January 13th. Three equities research analysts have rated the stock with a Strong Buy rating, forty-three have given a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $366.57.

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Alphabet Stock Performance

NASDAQ GOOGL opened at $318.17 on Monday. The stock has a market capitalization of $3.85 trillion, a PE ratio of 29.50, a P/E/G ratio of 1.85 and a beta of 1.09. Alphabet has a 1-year low of $140.53 and a 1-year high of $349.00. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.01 and a quick ratio of 2.01. The business has a 50 day simple moving average of $320.32 and a two-hundred day simple moving average of $279.46.

Alphabet (NASDAQ:GOOGLGet Free Report) last issued its quarterly earnings results on Wednesday, February 4th. The information services provider reported $2.82 EPS for the quarter, beating the consensus estimate of $2.57 by $0.25. Alphabet had a net margin of 32.81% and a return on equity of 35.01%. The company had revenue of $113.83 billion for the quarter, compared to the consensus estimate of $111.24 billion. On average, research analysts predict that Alphabet will post 8.9 EPS for the current fiscal year.

Insider Transactions at Alphabet

In related news, insider John Kent Walker sold 47,574 shares of the business’s stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $301.45, for a total transaction of $14,341,182.30. Following the transaction, the insider directly owned 13,227 shares in the company, valued at $3,987,279.15. The trade was a 78.25% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Sundar Pichai sold 32,500 shares of the company’s stock in a transaction dated Wednesday, February 18th. The shares were sold at an average price of $303.92, for a total value of $9,877,400.00. Following the transaction, the chief executive officer directly owned 2,818,524 shares in the company, valued at $856,605,814.08. This represents a 1.14% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 2,112,482 shares of company stock worth $119,145,289. 11.55% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Moment Partners LLC lifted its stake in Alphabet by 9.3% during the second quarter. Moment Partners LLC now owns 5,896 shares of the information services provider’s stock valued at $1,039,000 after buying an additional 504 shares in the last quarter. Brooktree Capital Management acquired a new stake in Alphabet in the 2nd quarter worth approximately $352,000. Griffin Asset Management Inc. boosted its holdings in shares of Alphabet by 13.9% during the 3rd quarter. Griffin Asset Management Inc. now owns 58,731 shares of the information services provider’s stock worth $14,277,000 after buying an additional 7,180 shares during the period. Birchcreek Wealth Management LLC boosted its holdings in Alphabet by 2.9% during the second quarter. Birchcreek Wealth Management LLC now owns 8,028 shares of the information services provider’s stock valued at $1,415,000 after acquiring an additional 223 shares during the period. Finally, Sovran Advisors LLC grew its holdings in Alphabet by 23.6% in the 3rd quarter. Sovran Advisors LLC now owns 22,219 shares of the information services provider’s stock valued at $5,401,000 after buying an additional 4,241 shares during the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Alphabet News Roundup

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Alphabet Company Profile

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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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Analyst Recommendations for Alphabet (NASDAQ:GOOGL)

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