Alphabet (NASDAQ:GOOGL) PT Raised to $200.00

Alphabet (NASDAQ:GOOGL) had its price target raised by analysts at JPMorgan Chase & Co. from $165.00 to $200.00 in a report released on Friday, Benzinga reports. The firm presently has an “overweight” rating on the information services provider’s stock. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 16.42% from the stock’s previous close.

A number of other brokerages also recently issued reports on GOOGL. Truist Financial raised their price objective on Alphabet from $158.00 to $170.00 and gave the stock a “buy” rating in a research report on Wednesday, April 17th. Citigroup lifted their price target on Alphabet from $168.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday. Piper Sandler reissued an “overweight” rating and issued a $200.00 target price (up previously from $160.00) on shares of Alphabet in a report on Friday. Barclays boosted their target price on Alphabet from $173.00 to $200.00 and gave the stock an “overweight” rating in a research report on Friday. Finally, Stifel Nicolaus upped their target price on Alphabet from $174.00 to $196.00 and gave the company a “buy” rating in a research note on Friday. Five equities research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $178.32.

Alphabet Price Performance

Shares of GOOGL stock traded up $15.79 on Friday, reaching $171.79. The company’s stock had a trading volume of 35,913,944 shares, compared to its average volume of 30,280,404. The stock’s fifty day simple moving average is $147.22 and its 200-day simple moving average is $141.16. Alphabet has a 1 year low of $103.54 and a 1 year high of $174.71. The company has a current ratio of 2.10, a quick ratio of 2.10 and a debt-to-equity ratio of 0.05. The company has a market capitalization of $2.14 trillion, a price-to-earnings ratio of 29.48, a price-to-earnings-growth ratio of 1.47 and a beta of 1.05.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results 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. Alphabet had a return on equity of 27.22% and a net margin of 24.01%. The firm had revenue of $86.31 billion for the quarter, compared to analyst estimates of $70.77 billion. During the same quarter last year, the firm posted $1.05 earnings per share. Analysts forecast that Alphabet will post 6.78 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction dated Wednesday, April 17th. The shares were sold at an average price of $157.41, for a total value of $3,541,725.00. Following the sale, the chief executive officer now owns 2,303,011 shares in the company, valued at approximately $362,516,961.51. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Alphabet news, CFO Ruth Porat sold 48,077 shares of the company’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $137.22, for a total value of $6,597,125.94. Following the completion of the sale, the chief financial officer now directly owns 1,777,106 shares of the company’s stock, valued at approximately $243,854,485.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction dated Wednesday, April 17th. The stock was sold at an average price of $157.41, for a total transaction of $3,541,725.00. Following the completion of the sale, the chief executive officer now directly owns 2,303,011 shares of the company’s stock, valued at $362,516,961.51. The disclosure for this sale can be found here. Insiders have sold 251,339 shares of company stock worth $36,377,482 in the last quarter. Insiders own 0.88% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of GOOGL. RWQ Financial Management Services Inc. lifted its stake in Alphabet by 8.2% in the 4th quarter. RWQ Financial Management Services Inc. now owns 61,499 shares of the information services provider’s stock worth $8,591,000 after purchasing an additional 4,664 shares in the last quarter. Ballast Advisors LLC lifted its stake in Alphabet by 9.6% in the 3rd quarter. Ballast Advisors LLC now owns 15,747 shares of the information services provider’s stock worth $2,061,000 after purchasing an additional 1,385 shares in the last quarter. Quantum Financial Advisors LLC lifted its stake in Alphabet by 8.0% in the 3rd quarter. Quantum Financial Advisors LLC now owns 7,623 shares of the information services provider’s stock worth $998,000 after purchasing an additional 564 shares in the last quarter. Acadian Asset Management LLC lifted its stake in Alphabet by 2.4% in the 3rd quarter. Acadian Asset Management LLC now owns 4,416,533 shares of the information services provider’s stock worth $577,908,000 after purchasing an additional 104,366 shares in the last quarter. Finally, NatWest Group plc lifted its stake in Alphabet by 239.0% in the 4th quarter. NatWest Group plc now owns 100,793 shares of the information services provider’s stock worth $14,080,000 after purchasing an additional 71,057 shares in the last quarter. 40.03% of the stock is owned by institutional investors.

About Alphabet

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.