Alphabet Inc. (NASDAQ:GOOG) Receives $174.38 Average Target Price from Analysts

Shares of Alphabet Inc. (NASDAQ:GOOG) have been assigned a consensus rating of “Buy” from the nine analysts that are currently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $177.50.

A number of brokerages recently commented on GOOG. Oppenheimer raised their price objective on shares of Alphabet from $205.00 to $210.00 and gave the stock an “outperform” rating in a report on Wednesday. Rosenblatt Securities cut Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price objective for the company. in a research report on Friday, June 28th. Stifel Nicolaus increased their price objective on Alphabet from $154.00 to $174.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. TD Cowen boosted their target price on Alphabet from $200.00 to $220.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. Finally, Wolfe Research raised Alphabet to a “strong-buy” rating in a research report on Tuesday, July 16th.

Insiders Place Their Bets

In other news, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $166.67, for a total transaction of $113,668.94. Following the completion of the sale, the chief accounting officer now directly owns 29,284 shares in the company, valued at approximately $4,880,764.28. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $166.67, for a total transaction of $113,668.94. Following the completion of the sale, the chief accounting officer now owns 29,284 shares of the company’s stock, valued at approximately $4,880,764.28. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $166.80, for a total transaction of $3,753,000.00. Following the completion of the transaction, the chief executive officer now directly owns 2,280,511 shares in the company, valued at $380,389,234.80. The disclosure for this sale can be found here. Insiders have sold a total of 146,988 shares of company stock worth $26,068,355 in the last quarter. Corporate insiders own 12.99% of the company’s stock.

Institutional Trading of Alphabet

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Bruce G. Allen Investments LLC acquired a new stake in shares of Alphabet during the fourth quarter valued at about $26,000. Partnership Wealth Management LLC bought a new stake in Alphabet during the 4th quarter worth approximately $26,000. Equitec Proprietary Markets LLC acquired a new position in Alphabet in the 4th quarter valued at approximately $28,000. DiNuzzo Private Wealth Inc. bought a new position in shares of Alphabet during the fourth quarter valued at $32,000. Finally, Pacific Capital Wealth Advisors Inc. acquired a new position in shares of Alphabet during the fourth quarter worth $34,000. Institutional investors own 27.26% of the company’s stock.

Alphabet Stock Performance

Alphabet stock opened at $174.37 on Friday. Alphabet has a 1 year low of $121.46 and a 1 year high of $193.31. The company has a market cap of $2.15 trillion, a PE ratio of 26.74, a PEG ratio of 1.35 and a beta of 1.05. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.05. The company’s 50-day moving average is $180.86 and its two-hundred day moving average is $161.53.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.85 by $0.04. The company had revenue of $84.74 billion for the quarter, compared to analyst estimates of $84.22 billion. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. The business’s revenue for the quarter was up 13.6% compared to the same quarter last year. During the same period last year, the business posted $1.44 earnings per share. Equities analysts anticipate that Alphabet will post 7.62 earnings per share for the current year.

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.