Shares of Alphabet Inc. (NASDAQ:GOOGL - Get Free Report) shot up 0.1% on Monday after KeyCorp raised their price target on the stock from $165.00 to $175.00. KeyCorp currently has an overweight rating on the stock. Alphabet traded as high as $156.48 and last traded at $154.26. 7,393,629 shares changed hands during mid-day trading, a decline of 75% from the average session volume of 29,834,469 shares. The stock had previously closed at $154.09.
Other analysts have also recently issued research reports about the stock. Canaccord Genuity Group upped their price objective on shares of Alphabet from $180.00 to $190.00 and gave the company a "buy" rating in a research report on Wednesday, April 17th. Citigroup restated a "buy" rating and issued a $168.00 price objective on shares of Alphabet in a report on Wednesday, April 10th. JMP Securities reaffirmed a "market outperform" rating and issued a $160.00 target price on shares of Alphabet in a research report on Wednesday, April 10th. UBS Group lifted their target price on Alphabet from $150.00 to $166.00 and gave the company a "neutral" rating in a research report on Tuesday, April 16th. Finally, Redburn Atlantic lifted their target price on Alphabet from $150.00 to $165.00 and gave the company a "buy" rating in a research report on Wednesday, January 31st. Five research analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Alphabet currently has a consensus rating of "Moderate Buy" and an average price target of $158.71.
Get Our Latest Stock Report on GOOGL
Insider Transactions at Alphabet
In other news, Director Frances Arnold sold 230 shares of the company's stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $154.06, for a total transaction of $35,433.80. Following the completion of the transaction, the director now directly owns 15,104 shares in the company, valued at $2,326,922.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Alphabet news, Director Frances Arnold sold 230 shares of the company's stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $154.06, for a total transaction of $35,433.80. Following the sale, the director now owns 15,104 shares of the company's stock, valued at $2,326,922.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Amie Thuener O'toole sold 660 shares of the company's stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $143.59, for a total transaction of $94,769.40. Following the sale, the chief accounting officer now directly owns 27,920 shares in the company, valued at approximately $4,009,032.80. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 251,339 shares of company stock worth $36,377,482. Corporate insiders own 0.88% of the company's stock.
Hedge Funds Weigh In On Alphabet
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Norges Bank acquired a new stake in shares of Alphabet in the 4th quarter worth about $15,441,917,000. FMR LLC raised its holdings in shares of Alphabet by 5.6% in the 3rd quarter. FMR LLC now owns 227,317,469 shares of the information services provider's stock worth $29,746,764,000 after acquiring an additional 12,070,681 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Alphabet by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 493,810,251 shares of the information services provider's stock worth $68,980,354,000 after acquiring an additional 6,374,756 shares during the last quarter. Public Employees Retirement Association of Colorado increased its stake in Alphabet by 39,754.9% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 6,025,667 shares of the information services provider's stock valued at $841,725,000 after buying an additional 6,010,548 shares during the last quarter. Finally, International Assets Investment Management LLC increased its stake in Alphabet by 4,894.1% in the 4th quarter. International Assets Investment Management LLC now owns 5,445,396 shares of the information services provider's stock valued at $7,606,670,000 after buying an additional 5,336,359 shares during the last quarter. Institutional investors own 40.03% of the company's stock.
Alphabet Stock Performance
The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.10 and a current ratio of 2.10. The stock has a market cap of $1.94 trillion, a PE ratio of 26.60, a price-to-earnings-growth ratio of 1.42 and a beta of 1.05. The company's 50 day simple moving average is $146.26 and its 200 day simple moving average is $140.64.
Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its quarterly earnings data on Tuesday, January 30th. The information services provider reported $1.64 EPS for the quarter, beating the consensus estimate of $1.60 by $0.04. The firm had revenue of $86.31 billion during the quarter, compared to analyst estimates of $70.77 billion. Alphabet had a net margin of 24.01% and a return on equity of 27.22%. During the same quarter last year, the business posted $1.05 EPS. Analysts expect that Alphabet Inc. will post 6.78 earnings per share for the current year.
Alphabet Company Profile
(
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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.
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