Alphabet (NASDAQ:GOOGL) Price Target Increased to $190.00 by Analysts at Canaccord Genuity Group

Alphabet (NASDAQ:GOOGL) had its price target increased by Canaccord Genuity Group from $180.00 to $190.00 in a report released on Wednesday morning, Benzinga reports. They currently have a buy rating on the information services provider’s stock.

A number of other brokerages also recently weighed in on GOOGL. Wells Fargo & Company dropped their target price on Alphabet from $144.00 to $141.00 and set an equal weight rating on the stock in a report on Wednesday, April 3rd. Truist Financial lifted their target price on shares of Alphabet from $158.00 to $170.00 and gave the company a buy rating in a research note on Wednesday. Wolfe Research upped their price target on shares of Alphabet from $170.00 to $180.00 and gave the stock an outperform rating in a research note on Wednesday, January 31st. Wedbush restated an outperform rating and issued a $175.00 target price on shares of Alphabet in a research note on Wednesday, April 10th. Finally, Needham & Company LLC reaffirmed a buy rating and set a $160.00 price target on shares of Alphabet in a research note on Wednesday, January 31st. Five investment analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average target price of $157.97.

Alphabet Stock Performance

GOOGL opened at $155.47 on Wednesday. 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 firm has a market cap of $1.93 trillion, a PE ratio of 26.81, a P/E/G ratio of 1.42 and a beta of 1.05. The business has a fifty day simple moving average of $145.95 and a 200-day simple moving average of $140.29. Alphabet has a fifty-two week low of $102.63 and a fifty-two week high of $160.22.

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

Insider Buying and Selling at Alphabet

In other news, CAO Amie Thuener O’toole sold 660 shares of the business’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $143.59, for a total value of $94,769.40. Following the transaction, the chief accounting officer now directly owns 27,920 shares of the company’s stock, valued at approximately $4,009,032.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, SVP Prabhakar Raghavan sold 3,258 shares of Alphabet stock in a transaction on Monday, April 1st. The stock was sold at an average price of $155.97, for a total transaction of $508,150.26. Following the completion of the sale, the senior vice president now directly owns 144,685 shares of the company’s stock, valued at $22,566,519.45. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CAO Amie Thuener O’toole sold 660 shares of the firm’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $143.59, for a total value of $94,769.40. Following the transaction, the chief accounting officer now owns 27,920 shares in the company, valued at approximately $4,009,032.80. The disclosure for this sale can be found here. Insiders have sold 251,339 shares of company stock worth $36,377,482 over the last three months. Company insiders own 0.88% of the company’s stock.

Institutional Investors Weigh In On Alphabet

Several large investors have recently modified their holdings of the business. Aviance Capital Partners LLC increased its holdings in Alphabet by 66.9% during the 1st quarter. Aviance Capital Partners LLC now owns 149,763 shares of the information services provider’s stock worth $22,604,000 after purchasing an additional 60,044 shares in the last quarter. Mirador Capital Partners LP raised its position in Alphabet by 3.3% in the 1st quarter. Mirador Capital Partners LP now owns 57,836 shares of the information services provider’s stock valued at $8,729,000 after buying an additional 1,843 shares during the last quarter. Francis Financial Inc. lifted its stake in Alphabet by 9.7% in the 1st quarter. Francis Financial Inc. now owns 10,227 shares of the information services provider’s stock valued at $1,544,000 after acquiring an additional 907 shares in the last quarter. Mayfair Advisory Group LLC boosted its position in Alphabet by 18.1% during the 1st quarter. Mayfair Advisory Group LLC now owns 3,192 shares of the information services provider’s stock worth $482,000 after acquiring an additional 490 shares during the last quarter. Finally, Financial Partners Group LLC grew its stake in shares of Alphabet by 6.7% during the 1st quarter. Financial Partners Group LLC now owns 76,397 shares of the information services provider’s stock worth $11,531,000 after acquiring an additional 4,767 shares in the last quarter. 40.03% of the stock is currently owned by institutional investors.

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.