Alphabet (NASDAQ:GOOGL) Stock Gets Price Target Cut from KeyCorp

Alphabet (NASDAQ:GOOGL) had its price objective decreased by KeyCorp from $410.00 to $385.00 in a research report sent to investors on Thursday, Marketbeat reports. KeyCorp currently has an overweight rating on the information services provider’s stock.

Other equities analysts have also recently issued research reports about the stock. Evercore reaffirmed an “outperform” rating and set a $450.00 price objective on shares of Alphabet in a research note on Wednesday, September 16th. Piper Sandler set a $345.00 target price on shares of Alphabet and gave the stock an “overweight” rating in a research note on Thursday. Phillip Securities raised shares of Alphabet from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, July 27th. Weiss Ratings restated a “buy (b)” rating on shares of Alphabet in a research report on Thursday, October 15th. Finally, The Goldman Sachs Group restated a “buy” rating and set a $385.00 price target on shares of Alphabet in a research report on Thursday. Five analysts have rated the stock with a Strong Buy rating, forty-six have given a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $410.46.

Alphabet Trading Down 1.4%

Shares of GOOGL opened at $279.84 on Thursday. The business’s 50-day moving average price is $339.07 and its 200-day moving average price is $340.17. Alphabet has a twelve month low of $270.70 and a twelve month high of $408.61. The stock has a market cap of $3.42 trillion, a PE ratio of 14.61, a P/E/G ratio of 0.82 and a beta of 1.21. The company has a quick ratio of 2.64, a current ratio of 2.79 and a debt-to-equity ratio of 0.19.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Wednesday, October 28th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.02 by ($0.90). Alphabet had a return on equity of 43.33% and a net margin of 50.03%. The firm had revenue of $127.58 billion during the quarter, compared to analysts’ expectations of $127.96 billion. On average, equities analysts forecast that Alphabet will post 20.05 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Frances Arnold sold 83 shares of the business’s stock in a transaction dated Wednesday, September 30th. The stock was sold at an average price of $340.45, for a total value of $28,257.35. Following the completion of the sale, the director owned 19,076 shares of the company’s stock, valued at approximately $6,494,424.20. The trade was a 0.43% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In the last 90 days, insiders have sold 247 shares of company stock valued at $79,238. 11.61% 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. State Street Corp raised its holdings in shares of Alphabet by 5.6% during the second quarter. State Street Corp now owns 238,977,259 shares of the information services provider’s stock valued at $85,403,303,000 after acquiring an additional 12,718,127 shares in the last quarter. Amundi lifted its stake in Alphabet by 4.6% in the second quarter. Amundi now owns 33,203,350 shares of the information services provider’s stock worth $11,865,809,000 after acquiring an additional 1,457,371 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in Alphabet by 10.1% in the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 17,724,321 shares of the information services provider’s stock valued at $6,334,186,000 after acquiring an additional 1,631,721 shares in the last quarter. Swiss National Bank increased its position in Alphabet by 7.1% during the 1st quarter. Swiss National Bank now owns 17,079,800 shares of the information services provider’s stock valued at $4,911,467,000 after purchasing an additional 1,139,400 shares during the period. Finally, Arrowstreet Capital Limited Partnership increased its position in Alphabet by 90.9% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 17,040,373 shares of the information services provider’s stock valued at $4,900,078,000 after purchasing an additional 8,112,680 shares during the period. 40.03% of the stock is owned by hedge funds and other institutional investors.

Alphabet News Summary

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Google Cloud revenue more than doubled year over year to approximately $30.7 billion, while its backlog reached $561 billion. The results support Alphabet’s position as a major beneficiary of enterprise AI demand. Alphabet’s Cloud Business Just Doubled
• Positive Sentiment: Several analysts remain constructive after the selloff. Guggenheim and Needham reaffirmed “buy” ratings with $450 targets, while Citigroup and Wells Fargo retained bullish ratings and projected substantial upside despite lowering their targets.
• Positive Sentiment: Alphabet’s AI ecosystem could gain from rising demand for cloud capacity and specialized chips. Waymo is also expanding internationally through a partnership with Toyota, although the business remains small relative to Alphabet’s core operations. Waymo taps Toyota to supply robotaxis
• Neutral Sentiment: Multiple securities law firms publicized class-action lawsuits and lead-plaintiff deadlines tied to alleged disclosures about Alphabet’s Gemini AI development. These notices add headline risk, but their direct financial impact remains uncertain.
• Negative Sentiment: Alphabet reported adjusted earnings of $2.12 per share, below consensus near $2.94-$3.02, while revenue of $127.6 billion also missed expectations. Search and other revenue grew about 12% to roughly $63 billion, but fell short of forecasts, reinforcing fears that AI-generated answers and “AI mode” searches may monetize less effectively than traditional Search.
• Negative Sentiment: AI infrastructure spending caused free cash flow to remain negative by roughly $9.1 billion for a second consecutive quarter. Investors are questioning whether the enormous capital outlays will produce adequate returns and whether Alphabet may need additional debt or equity financing.
• Negative Sentiment: An unrealized loss on Alphabet’s SpaceX investment reduced quarterly earnings by approximately $0.55 per share, while an EU antitrust fine further pressured results. Analysts including RBC, Wells Fargo, Citigroup, Wedbush, KeyCorp and Cantor Fitzgerald lowered price targets, even though most maintained positive ratings.

Alphabet Company Profile

Alphabet Inc is a technology holding company best known for its Google subsidiary. Google operates a global internet-services business centered on online search, digital advertising, YouTube, Android, Chrome, Google Maps, Google Play, and a broad range of cloud-based productivity and collaboration tools.

Google Cloud provides infrastructure, data analytics, cybersecurity, artificial intelligence, and enterprise software services to businesses, governments, and other organizations. Alphabet also develops consumer hardware, including Pixel devices and products for connected homes, while investing in emerging businesses through its “Other Bets” segment, including autonomous transportation and life sciences initiatives.

Alphabet was established in 2015 as part of a corporate restructuring that made Google a subsidiary and provided a separate structure for its expanding portfolio of businesses.