Alphabet (NASDAQ:GOOG) Price Target Raised to $225.00 at Pivotal Research

Alphabet (NASDAQ:GOOG) had its target price boosted by Pivotal Research from $215.00 to $225.00 in a research report released on Wednesday morning, Benzinga reports. Pivotal Research currently has a buy rating on the information services provider’s stock.

Several other equities analysts have also weighed in on GOOG. Cantor Fitzgerald upgraded shares of Alphabet to a “hold” rating in a report on Thursday, September 5th. Jefferies Financial Group boosted their price objective on Alphabet from $220.00 to $235.00 and gave the company a “buy” rating in a report on Wednesday. Wolfe Research upgraded Alphabet to a “strong-buy” rating in a report on Tuesday, July 16th. Scotiabank assumed coverage on shares of Alphabet in a research note on Friday, October 11th. They set a “sector outperform” rating and a $212.00 price target for the company. Finally, TD Cowen raised their price objective on shares of Alphabet from $200.00 to $220.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. Five investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $200.56.

Alphabet Stock Up 2.9 %

Shares of Alphabet stock opened at $176.14 on Wednesday. The firm has a market cap of $2.18 trillion, a price-to-earnings ratio of 27.02, a PEG ratio of 1.27 and a beta of 1.04. The stock’s 50-day moving average is $163.56 and its 200 day moving average is $170.30. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08 and a quick ratio of 2.08. Alphabet has a one year low of $123.93 and a one year high of $193.31.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.83 by $0.29. The firm had revenue of $88.27 billion for the quarter, compared to analysts’ expectations of $86.39 billion. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The company’s revenue for the quarter was up 15.1% compared to the same quarter last year. During the same period in the prior year, the business earned $1.55 EPS. Equities research analysts anticipate that Alphabet will post 7.64 EPS for the current year.

Insider Activity

In related news, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $168.00, for a total transaction of $114,576.00. Following the completion of the transaction, the chief accounting officer now owns 31,334 shares in the company, valued at approximately $5,264,112. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $168.00, for a total transaction of $114,576.00. Following the completion of the sale, the chief accounting officer now owns 31,334 shares in the company, valued at $5,264,112. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider John Kent Walker sold 21,467 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $160.35, for a total value of $3,442,233.45. Following the completion of the transaction, the insider now owns 39,334 shares in the company, valued at approximately $6,307,206.90. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 220,426 shares of company stock valued at $35,993,340 in the last ninety days. 12.99% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Alphabet

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GOOG. Abich Financial Wealth Management LLC raised its position in shares of Alphabet by 9,200.0% in the second quarter. Abich Financial Wealth Management LLC now owns 186 shares of the information services provider’s stock valued at $34,000 after purchasing an additional 184 shares during the period. 1620 Investment Advisors Inc. purchased a new stake in shares of Alphabet during the second quarter worth $37,000. HWG Holdings LP bought a new position in shares of Alphabet in the second quarter worth $40,000. Slocum Gordon & Co LLP purchased a new position in shares of Alphabet in the second quarter valued at $44,000. Finally, Hoese & Co LLP lifted its holdings in Alphabet by 62.5% during the 2nd quarter. Hoese & Co LLP now owns 260 shares of the information services provider’s stock worth $45,000 after purchasing an additional 100 shares in the last quarter. 27.26% of the stock is currently owned by institutional investors.

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.