Alphabet (NASDAQ:GOOGL) Price Target Increased to $182.00 by Analysts at Rosenblatt Securities

Alphabet (NASDAQ:GOOGL) had its price target upped by investment analysts at Rosenblatt Securities from $172.00 to $182.00 in a report issued on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the information services provider’s stock. Rosenblatt Securities’ price target would suggest a potential upside of 16.67% from the stock’s current price.

GOOGL has been the topic of a number of other reports. Barclays cut their target price on shares of Alphabet from $180.00 to $173.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 31st. Citigroup restated a “buy” rating and set a $168.00 target price on shares of Alphabet in a research note on Wednesday, April 10th. Jefferies Financial Group upped their price target on Alphabet from $175.00 to $180.00 and gave the company a “buy” rating in a report on Friday, April 19th. UBS Group upped their price target on Alphabet from $150.00 to $166.00 and gave the company a “neutral” rating in a report on Tuesday, April 16th. Finally, Redburn Atlantic upped their price target on Alphabet from $150.00 to $165.00 and gave the company a “buy” rating in a report on Wednesday, January 31st. Five research analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $164.41.

Alphabet Trading Down 2.0 %

Shares of GOOGL stock opened at $156.00 on Friday. The company’s 50-day moving average price is $147.22 and its 200-day moving average price is $141.16. The company has a current ratio of 2.10, a quick ratio of 2.10 and a debt-to-equity ratio of 0.05. The stock has a market cap of $1.94 trillion, a price-to-earnings ratio of 26.90, a PEG ratio of 1.47 and a beta of 1.05. Alphabet has a twelve month low of $102.63 and a twelve month high of $160.22.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Tuesday, January 30th. The information services provider reported $1.64 earnings per share for the quarter, beating the consensus estimate of $1.60 by $0.04. The firm had revenue of $86.31 billion for the quarter, compared to analysts’ expectations of $70.77 billion. Alphabet had a net margin of 24.01% and a return on equity of 27.22%. During the same quarter in the previous year, the company posted $1.05 EPS. As a group, equities analysts predict that Alphabet will post 6.78 earnings per share for the current year.

Insiders Place Their Bets

In other Alphabet news, CAO Amie Thuener O’toole sold 660 shares of the firm’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $143.59, for a total value of $94,769.40. Following the sale, the chief accounting officer now directly owns 27,920 shares of the company’s stock, valued at approximately $4,009,032.80. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction dated Wednesday, April 17th. The stock was sold at an average price of $157.41, for a total value of $3,541,725.00. Following the transaction, the chief executive officer now directly owns 2,303,011 shares of the company’s stock, valued at approximately $362,516,961.51. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Amie Thuener O’toole sold 660 shares of the firm’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $143.59, for a total value of $94,769.40. Following the sale, the chief accounting officer now owns 27,920 shares in the company, valued at $4,009,032.80. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 251,339 shares of company stock valued at $36,377,482. Insiders own 0.88% of the company’s stock.

Institutional Investors Weigh In On Alphabet

Several hedge funds have recently modified their holdings of the stock. Vermillion & White Wealth Management Group LLC bought a new stake in shares of Alphabet in the 4th quarter valued at approximately $30,000. Tributary Capital Management LLC bought a new stake in shares of Alphabet in the 1st quarter valued at approximately $30,000. DiNuzzo Private Wealth Inc. bought a new stake in shares of Alphabet in the 4th quarter valued at approximately $38,000. Meritage Group LP increased its holdings in shares of Alphabet by 1,061.5% in 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. Finally, Macroview Investment Management LLC increased its holdings in shares of Alphabet by 165.8% in the 3rd quarter. Macroview Investment Management LLC now owns 319 shares of the information services provider’s stock valued at $42,000 after acquiring an additional 199 shares during the last quarter. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

About Alphabet

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.