Alphabet (NASDAQ:GOOGL) Stock Rating Reaffirmed by Rosenblatt Securities

Alphabet (NASDAQ:GOOGL)‘s stock had its “neutral” rating reissued by Rosenblatt Securities in a research report issued to clients and investors on Wednesday, Benzinga reports. They presently have a $181.00 price target on the information services provider’s stock. Rosenblatt Securities’ price objective points to a potential upside of 8.20% from the company’s current price.

Other equities research analysts have also recently issued reports about the company. Mizuho lowered their target price on Alphabet from $290.00 to $205.00 in a research note on Thursday, July 18th. Evercore ISI lifted their price objective on Alphabet from $220.00 to $225.00 and gave the stock an “outperform” rating in a research report on Tuesday, June 11th. Robert W. Baird upped their target price on shares of Alphabet from $160.00 to $200.00 and gave the company an “outperform” rating in a research report on Friday, April 26th. Piper Sandler raised their target price on shares of Alphabet from $200.00 to $206.00 and gave the company an “overweight” rating in a research note on Wednesday. Finally, Royal Bank of Canada boosted their price target on shares of Alphabet from $155.00 to $200.00 and gave the stock an “outperform” rating in a research note on Friday, April 26th. Six equities research analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $203.74.

Alphabet Stock Performance

Alphabet stock opened at $167.28 on Wednesday. The stock has a 50-day simple moving average of $179.22 and a 200 day simple moving average of $160.15. The stock has a market capitalization of $2.07 trillion, a price-to-earnings ratio of 25.66, a P/E/G ratio of 1.36 and a beta of 1.05. 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 $120.21 and a 12-month high of $191.75.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, topping analysts’ consensus estimates of $1.85 by $0.04. The company had revenue of $84.74 billion during the quarter, compared to the consensus estimate of $70.60 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.96%. During the same period in the previous year, the firm posted $1.44 earnings per share. On average, research analysts anticipate that Alphabet will post 7.62 earnings per share for the current fiscal year.

Insider Activity at Alphabet

In related news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction 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 owns 2,280,511 shares in the company, valued at $380,389,234.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $166.80, for a total value of $3,753,000.00. Following the completion of the transaction, the chief executive officer now owns 2,280,511 shares in the company, valued at approximately $380,389,234.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John L. Hennessy sold 1,500 shares of the company’s stock in a transaction dated Friday, July 12th. The stock was sold at an average price of $185.85, for a total value of $278,775.00. Following the sale, the director now owns 30,824 shares in the company, valued at approximately $5,728,640.40. The disclosure for this sale can be found here. In the last quarter, insiders have sold 122,388 shares of company stock valued at $21,497,609. 11.55% of the stock is owned by insiders.

Hedge Funds Weigh In On Alphabet

A number of institutional investors have recently added to or reduced their stakes in the company. MorganRosel Wealth Management LLC raised its stake in Alphabet by 3.6% during the second quarter. MorganRosel Wealth Management LLC now owns 1,620 shares of the information services provider’s stock valued at $295,000 after buying an additional 57 shares during the last quarter. Hengehold Capital Management LLC raised its position in shares of Alphabet by 0.8% in the 2nd quarter. Hengehold Capital Management LLC now owns 7,224 shares of the information services provider’s stock worth $1,316,000 after purchasing an additional 60 shares during the last quarter. Christopher J. Hasenberg Inc boosted its stake in Alphabet by 75.0% in the 2nd quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock worth $26,000 after purchasing an additional 60 shares in the last quarter. Joseph P. Lucia & Associates LLC grew its position in Alphabet by 1.0% during the 1st quarter. Joseph P. Lucia & Associates LLC now owns 6,624 shares of the information services provider’s stock valued at $1,000,000 after purchasing an additional 64 shares during the last quarter. Finally, Sunflower Bank N.A. increased its stake in Alphabet by 1.0% during the 2nd quarter. Sunflower Bank N.A. now owns 6,309 shares of the information services provider’s stock valued at $1,149,000 after purchasing an additional 65 shares in the last quarter. 40.03% of the stock is currently 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.