Alphabet (NASDAQ:GOOGL) Receives “Buy” Rating from Roth Mkm

Alphabet (NASDAQ:GOOGL)‘s stock had its “buy” rating reissued by research analysts at Roth Mkm in a report issued on Wednesday,Benzinga reports. They currently have a $220.00 price objective on the information services provider’s stock. Roth Mkm’s price objective would indicate a potential upside of 35.64% from the stock’s current price.

Other analysts also recently issued reports about the stock. Morgan Stanley lowered their price objective on shares of Alphabet from $215.00 to $210.00 and set an “overweight” rating on the stock in a report on Wednesday, February 5th. Needham & Company LLC restated a “buy” rating and issued a $225.00 price target on shares of Alphabet in a research note on Wednesday, February 5th. Wedbush lifted their price objective on shares of Alphabet from $210.00 to $220.00 and gave the stock an “outperform” rating in a research report on Monday, January 6th. Citigroup decreased their price objective on shares of Alphabet from $232.00 to $229.00 and set a “buy” rating on the stock in a report on Wednesday, February 5th. Finally, DA Davidson raised their target price on shares of Alphabet from $190.00 to $200.00 and gave the stock a “neutral” rating in a research note on Friday, January 24th. Ten analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $210.59.

Alphabet Price Performance

Shares of GOOGL traded up $1.53 during trading hours on Wednesday, hitting $162.20. The stock had a trading volume of 2,996,855 shares, compared to its average volume of 25,698,458. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84. Alphabet has a 52 week low of $146.08 and a 52 week high of $207.05. The stock has a market capitalization of $1.98 trillion, a price-to-earnings ratio of 20.16, a P/E/G ratio of 1.34 and a beta of 1.02. The company’s fifty day moving average is $184.35 and its two-hundred day moving average is $176.56.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share for the quarter, topping the consensus estimate of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. On average, analysts anticipate that Alphabet will post 8.9 EPS for the current year.

Insider Activity

In related news, insider John Kent Walker sold 16,820 shares of the stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $192.62, for a total value of $3,239,868.40. Following the completion of the transaction, the insider now directly owns 43,981 shares of the company’s stock, valued at $8,471,620.22. This represents a 27.66 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Amie Thuener O’toole sold 1,368 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $191.55, for a total value of $262,040.40. Following the transaction, the chief accounting officer now owns 20,681 shares in the company, valued at $3,961,445.55. This trade represents a 6.20 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 93,048 shares of company stock worth $17,374,274. 11.55% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Alphabet

Several institutional investors and hedge funds have recently modified their holdings of the stock. Compass Planning Associates Inc purchased a new stake in Alphabet during the 4th quarter valued at $30,000. LMR Partners LLP bought a new position in Alphabet during the 3rd quarter valued at about $32,000. E Fund Management Hong Kong Co. Ltd. grew its stake in shares of Alphabet by 518.8% in the fourth quarter. E Fund Management Hong Kong Co. Ltd. now owns 198 shares of the information services provider’s stock worth $37,000 after acquiring an additional 166 shares during the period. Fiduciary Advisors Inc. bought a new position in Alphabet during the fourth quarter valued at approximately $39,000. Finally, PayPay Securities Corp boosted its holdings in Alphabet by 36.1% in the fourth quarter. PayPay Securities Corp now owns 245 shares of the information services provider’s stock worth $46,000 after purchasing an additional 65 shares during the last quarter. 40.03% 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.