Alphabet (NASDAQ:GOOGL) PT Raised to $220.00 at TD Securities

Alphabet (NASDAQ:GOOGL) had its price objective hoisted by stock analysts at TD Securities from $200.00 to $220.00 in a research report issued to clients and investors on Wednesday, BayStreet.CA reports. TD Securities’ price target indicates a potential upside of 14.96% from the stock’s current price.

A number of other brokerages have also issued reports on GOOGL. Jefferies Financial Group upped their price objective on shares of Alphabet from $215.00 to $220.00 in a report on Tuesday. Tigress Financial upped their price target on shares of Alphabet from $176.00 to $210.00 and gave the company a “strong-buy” rating in a research report on Friday, May 24th. Wedbush boosted their target price on Alphabet from $175.00 to $205.00 and gave the company an “outperform” rating in a report on Friday, April 26th. Truist Financial lifted their price objective on Alphabet from $170.00 to $190.00 and gave the company a “buy” rating in a report on Friday, April 26th. Finally, Argus boosted their price objective on shares of Alphabet from $170.00 to $200.00 and gave the stock a “buy” rating in a report on Tuesday, April 30th. Six investment analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $195.06.

Alphabet Price Performance

GOOGL stock traded up $2.39 during midday trading on Wednesday, hitting $191.37. The company’s stock had a trading volume of 7,235,828 shares, compared to its average volume of 28,041,791. The firm has a market capitalization of $2.36 trillion, a price-to-earnings ratio of 29.30, a price-to-earnings-growth ratio of 1.42 and a beta of 1.05. The company has a 50 day moving average of $176.41 and a two-hundred day moving average of $156.91. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.05. Alphabet has a 12 month low of $115.35 and a 12 month high of $191.40.

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. The business had revenue of $80.54 billion during the quarter, compared to analysts’ expectations of $66.04 billion. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. During the same period in the prior year, the business earned $1.17 EPS. On average, analysts expect that Alphabet will post 7.6 EPS for the current year.

Insiders Place Their Bets

In related news, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $183.47, for a total transaction of $125,126.54. Following the completion of the transaction, the chief accounting officer now directly owns 30,650 shares of the company’s stock, valued at $5,623,355.50. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, CEO Sundar Pichai sold 22,500 shares of Alphabet 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 sale, the chief executive officer now directly owns 2,303,011 shares of the company’s stock, valued at $362,516,961.51. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $183.47, for a total transaction of $125,126.54. Following the completion of the sale, the chief accounting officer now owns 30,650 shares in the company, valued at approximately $5,623,355.50. The disclosure for this sale can be found here. Insiders have sold a total of 123,788 shares of company stock valued at $21,143,403 over the last quarter. Company insiders own 11.55% of the company’s stock.

Hedge Funds Weigh In On Alphabet

Hedge funds and other institutional investors have recently made changes to their positions in the business. RWQ Financial Management Services Inc. boosted its holdings in shares of Alphabet by 8.2% during 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 buying an additional 4,664 shares during the period. Picton Mahoney Asset Management increased its stake in shares of Alphabet by 55.4% in the fourth quarter. Picton Mahoney Asset Management now owns 214,443 shares of the information services provider’s stock valued at $29,956,000 after buying an additional 76,410 shares in the last quarter. Robbins Farley boosted its position in Alphabet by 0.8% in the 4th quarter. Robbins Farley now owns 15,006 shares of the information services provider’s stock valued at $2,096,000 after buying an additional 118 shares during the last quarter. Nebula Research & Development LLC bought a new position in Alphabet in the fourth quarter valued at approximately $787,000. Finally, CKW Financial Group boosted its holdings in Alphabet by 5.8% during the first quarter. CKW Financial Group now owns 13,830 shares of the information services provider’s stock worth $2,150,000 after buying an additional 760 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.

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.