Alphabet (NASDAQ:GOOGL) Price Target Raised to $355.00

Alphabet (NASDAQ:GOOGLGet Free Report) had its price objective lifted by stock analysts at Loop Capital from $320.00 to $355.00 in a research note issued to investors on Monday,MarketScreener reports. The firm currently has a “buy” rating on the information services provider’s stock. Loop Capital’s price objective indicates a potential upside of 11.58% from the company’s current price.

GOOGL has been the topic of several other reports. Stifel Nicolaus reaffirmed a “buy” rating and set a $395.00 target price (up from $346.00) on shares of Alphabet in a report on Thursday, February 5th. Canaccord Genuity Group set a $415.00 target price on Alphabet in a research report on Thursday, February 5th. Evercore restated an “outperform” rating and issued a $400.00 price target (up previously from $325.00) on shares of Alphabet in a research report on Thursday, February 5th. BNP Paribas Exane assumed coverage on shares of Alphabet in a research note on Monday, November 24th. They set an “outperform” rating and a $355.00 price objective on the stock. Finally, Citic Securities boosted their target price on shares of Alphabet from $230.00 to $310.00 and gave the company a “buy” rating in a research report on Monday, November 3rd. Three equities research analysts have rated the stock with a Strong Buy rating, forty-three have assigned a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $366.57.

Check Out Our Latest Analysis on Alphabet

Alphabet Trading Up 1.0%

Shares of NASDAQ:GOOGL opened at $318.17 on Monday. Alphabet has a 12-month low of $140.53 and a 12-month high of $349.00. The business has a 50 day moving average of $320.32 and a 200-day moving average of $279.46. The company has a quick ratio of 2.01, a current ratio of 2.01 and a debt-to-equity ratio of 0.11. The stock has a market cap of $3.85 trillion, a PE ratio of 29.50, a P/E/G ratio of 1.85 and a beta of 1.09.

Alphabet (NASDAQ:GOOGLGet Free Report) last released its quarterly earnings results on Wednesday, February 4th. The information services provider reported $2.82 earnings per share for the quarter, topping the consensus estimate of $2.57 by $0.25. Alphabet had a return on equity of 35.01% and a net margin of 32.81%.The business had revenue of $113.83 billion during the quarter, compared to analysts’ expectations of $111.24 billion. As a group, equities research analysts forecast that Alphabet will post 8.9 earnings per share for the current year.

Insider Activity

In related news, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $303.92, for a total value of $9,877,400.00. Following the completion of the sale, the chief executive officer directly owned 2,818,524 shares in the company, valued at $856,605,814.08. This represents a 1.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Amie Thuener O’toole sold 933 shares of the business’s stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $336.55, for a total transaction of $314,001.15. Following the completion of the transaction, the chief accounting officer owned 9,916 shares in the company, valued at $3,337,229.80. This trade represents a 8.60% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 2,112,482 shares of company stock worth $119,145,289. Company insiders own 11.55% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in GOOGL. Financial Gravity Companies Inc. purchased a new position in Alphabet in the 2nd quarter worth approximately $31,000. PMV Capital Advisers LLC purchased a new position in Alphabet during the 4th quarter valued at about $38,000. IFC & Insurance Marketing Inc. bought a new stake in shares of Alphabet in the 4th quarter worth approximately $38,000. Bard Associates Inc. purchased a new stake in shares of Alphabet in the fourth quarter worth $52,000. Finally, Pilgrim Partners Asia Pte Ltd bought a new position in Alphabet in the 3rd quarter worth about $53,000. Hedge funds and other institutional investors own 40.03% of the company’s stock.

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About Alphabet

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Alphabet Inc is the holding company created in 2015 to organize Google and a portfolio of businesses developing technologies beyond Google’s core internet services. Its principal operations are led by Google, which builds and operates consumer-facing products such as Google Search, YouTube, Android, Chrome, Gmail, Google Maps and Google Workspace, as well as advertising platforms (Google Ads and AdSense) that historically generate the majority of its revenue. Google also develops consumer hardware (Pixel phones, Nest smart-home devices, Chromecast) and developer and distribution platforms such as Google Play.

Beyond Google’s consumer and advertising businesses, Alphabet invests in enterprise and infrastructure offerings through Google Cloud, which provides cloud computing, data analytics and productivity services to businesses and institutions.

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