Argus Raises Alphabet (NASDAQ:GOOGL) Price Target to $200.00

Alphabet (NASDAQ:GOOGL) had its price target boosted by Argus from $170.00 to $200.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage presently has a “buy” rating on the information services provider’s stock. Argus’ price objective would suggest a potential upside of 20.53% from the company’s previous close.

Several other equities research analysts also recently weighed in on GOOGL. Roth Mkm upped their price objective on shares of Alphabet from $164.00 to $202.00 and gave the stock a “buy” rating in a report on Friday. Barclays raised their price objective on shares of Alphabet from $173.00 to $200.00 and gave the company an “overweight” rating in a research note on Friday. KeyCorp upped their target price on Alphabet from $165.00 to $175.00 and gave the stock an “overweight” rating in a research report on Monday, April 22nd. Citigroup boosted their price objective on Alphabet from $168.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday. Finally, Wolfe Research raised their target price on Alphabet from $180.00 to $200.00 and gave the company an “outperform” rating in a research note on Friday. Five research analysts have rated the stock with a hold rating, thirty have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $189.74.

Alphabet Stock Performance

Shares of NASDAQ:GOOGL traded down $0.22 during trading on Tuesday, reaching $165.93. 8,229,480 shares of the company’s stock traded hands, compared to its average volume of 30,550,977. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.15 and a quick ratio of 2.10. The company has a 50 day moving average of $148.36 and a 200-day moving average of $141.62. Alphabet has a 12 month low of $103.71 and a 12 month high of $174.71. The stock has a market capitalization of $2.06 trillion, a P/E ratio of 25.45, a price-to-earnings-growth ratio of 1.57 and a beta of 1.05.

Alphabet (NASDAQ:GOOGL) last issued its earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.49 by $0.40. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. The firm had revenue of $80.54 billion for the quarter, compared to analyst estimates of $66.04 billion. During the same period last year, the company earned $1.17 earnings per share. On average, equities analysts expect that Alphabet will post 6.82 EPS for the current year.

Insiders Place Their Bets

In related news, CAO Amie Thuener O’toole sold 660 shares of the business’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 transaction, the chief accounting officer now owns 27,920 shares of the company’s stock, valued at $4,009,032.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $132.70, for a total transaction of $2,985,750.00. Following the sale, the chief executive officer now owns 2,332,691 shares of the company’s stock, valued at approximately $309,548,095.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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 value of $94,769.40. Following the completion of the transaction, the chief accounting officer now owns 27,920 shares of the company’s stock, valued at $4,009,032.80. The disclosure for this sale can be found here. Insiders have sold a total of 253,209 shares of company stock valued at $36,711,144 in the last three months. Company insiders own 0.88% of the company’s stock.

Hedge Funds Weigh In On Alphabet

A number of hedge funds have recently modified their holdings of the stock. Vermillion & White Wealth Management Group LLC acquired a new position in Alphabet in the fourth quarter valued at about $30,000. Tributary Capital Management LLC bought a new position in shares of Alphabet in the first quarter valued at approximately $30,000. DiNuzzo Private Wealth Inc. acquired a new position in shares of Alphabet in the 4th quarter worth approximately $38,000. Meritage Group LP grew its position in Alphabet by 1,061.5% during the 3rd quarter. Meritage Group LP now owns 302 shares of the information services provider’s stock worth $40,000 after acquiring an additional 276 shares during the last quarter. Finally, Macroview Investment Management LLC increased its holdings in Alphabet by 165.8% during the 3rd quarter. Macroview Investment Management LLC now owns 319 shares of the information services provider’s stock valued at $42,000 after purchasing an additional 199 shares in the last quarter. 40.03% of the stock is owned by institutional investors and hedge funds.

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.