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

Alphabet (NASDAQ:GOOGL) had its target price hoisted by investment analysts at Argus from $170.00 to $200.00 in a report issued on Tuesday, Benzinga reports. The brokerage presently has a “buy” rating on the information services provider’s stock. Argus’ price target would indicate a potential upside of 20.53% from the company’s current price.

GOOGL has been the topic of a number of other reports. Morgan Stanley raised their price objective on shares of Alphabet from $165.00 to $195.00 and gave the company an “overweight” rating in a report on Friday. Oppenheimer increased their price objective on Alphabet from $185.00 to $205.00 and gave the company an “outperform” rating in a report on Friday. Raymond James upped their price target on Alphabet from $160.00 to $200.00 and gave the company an “outperform” rating in a report on Friday. BMO Capital Markets raised their price objective on shares of Alphabet from $185.00 to $215.00 and gave the stock an “outperform” rating in a report on Friday. Finally, Wolfe Research upped their target price on shares of Alphabet from $180.00 to $200.00 and gave the company an “outperform” rating in a report on Friday. Five research analysts have rated the stock with a hold rating, thirty have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $189.74.

Alphabet Stock Down 0.1 %

Shares of GOOGL traded down $0.22 during mid-day trading on Tuesday, hitting $165.93. 8,229,480 shares of the company’s stock were exchanged, compared to its average volume of 30,550,977. Alphabet has a fifty-two week low of $103.71 and a fifty-two week high of $174.71. The stock’s 50-day moving average is $148.36 and its 200-day moving average is $141.62. The company has a market cap of $2.06 trillion, a price-to-earnings ratio of 25.45, a P/E/G ratio of 1.57 and a beta of 1.05. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.10 and a current ratio of 2.15.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data on Thursday, April 25th. The information services provider reported $1.89 earnings per share for the quarter, topping analysts’ consensus estimates of $1.49 by $0.40. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. The business had revenue of $80.54 billion for the quarter, compared to analyst estimates of $66.04 billion. During the same quarter in the prior year, the company earned $1.17 earnings per share. On average, sell-side analysts anticipate that Alphabet will post 6.82 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $132.70, for a total value 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 $309,548,095.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CAO Amie Thuener O’toole sold 660 shares of the company’s stock in a transaction that occurred 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 accessible through this link. Also, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $132.70, for a total value of $2,985,750.00. Following the sale, the chief executive officer now owns 2,332,691 shares in the company, valued at approximately $309,548,095.70. The disclosure for this sale can be found here. Over the last three months, insiders have sold 253,209 shares of company stock worth $36,711,144. 0.88% of the stock is owned by company insiders.

Hedge Funds Weigh In On Alphabet

Large investors have recently bought and sold shares of the stock. Tributary Capital Management LLC purchased a new stake in Alphabet during the 1st quarter worth $30,000. Vermillion & White Wealth Management Group LLC acquired a new stake in shares of Alphabet during the fourth quarter worth approximately $30,000. DiNuzzo Private Wealth Inc. acquired a new stake in Alphabet in the fourth quarter valued at $38,000. Richardson Capital Management LLC raised its holdings in Alphabet by 87.5% in the first quarter. Richardson Capital Management LLC now owns 300 shares of the information services provider’s stock valued at $45,000 after acquiring an additional 140 shares in the last quarter. Finally, Meritage Group LP boosted its stake in Alphabet by 1,061.5% during the 3rd quarter. Meritage Group LP now owns 302 shares of the information services provider’s stock valued at $40,000 after acquiring an additional 276 shares during the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

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.