Alphabet (NASDAQ:GOOGL) Price Target Increased to $210.00 by Analysts at Canaccord Genuity Group

Alphabet (NASDAQ:GOOGL) had its target price boosted by equities research analysts at Canaccord Genuity Group from $190.00 to $210.00 in a research report issued on Friday, Benzinga reports. The firm currently has a “buy” rating on the information services provider’s stock. Canaccord Genuity Group’s target price suggests a potential upside of 34.62% from the stock’s previous close.

Other research analysts also recently issued reports about the stock. Barclays upped their price target on shares of Alphabet from $173.00 to $200.00 and gave the stock an “overweight” rating in a report on Friday. Roth Mkm lowered their price target on shares of Alphabet from $166.00 to $164.00 and set a “buy” rating for the company in a report on Wednesday, January 31st. Mizuho boosted their price objective on shares of Alphabet from $170.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday. Jefferies Financial Group boosted their price objective on shares of Alphabet from $175.00 to $180.00 and gave the stock a “buy” rating in a research note on Friday, April 19th. Finally, Rosenblatt Securities boosted their price objective on shares of Alphabet from $172.00 to $182.00 and gave the stock a “buy” rating in a research note on Friday. Five research analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Alphabet presently has a consensus rating of “Moderate Buy” and an average price target of $173.00.

Alphabet Stock Down 2.0 %

Shares of GOOGL opened at $156.00 on Friday. Alphabet has a one year low of $102.63 and a one year high of $160.22. The company has a market cap of $1.94 trillion, a P/E ratio of 26.90, a P/E/G ratio of 1.47 and a beta of 1.05. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.10 and a quick ratio of 2.10. The firm has a 50 day simple moving average of $147.22 and a two-hundred day simple moving average of $141.16.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Tuesday, January 30th. The information services provider reported $1.64 EPS for the quarter, beating the consensus estimate of $1.60 by $0.04. Alphabet had a net margin of 24.01% and a return on equity of 27.22%. The business had revenue of $86.31 billion during the quarter, compared to the consensus estimate of $70.77 billion. During the same period in the previous year, the business earned $1.05 earnings per share. Research analysts forecast that Alphabet will post 6.78 EPS for the current fiscal year.

Insider Transactions at Alphabet

In other news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $132.70, for a total transaction of $2,985,750.00. Following the transaction, the chief executive officer now directly owns 2,332,691 shares in the company, valued at approximately $309,548,095.70. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $132.70, for a total transaction 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 approximately $309,548,095.70. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Frances Arnold sold 230 shares of Alphabet stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $154.06, for a total transaction of $35,433.80. Following the sale, the director now directly owns 15,104 shares in the company, valued at approximately $2,326,922.24. The disclosure for this sale can be found here. Insiders have sold a total of 251,339 shares of company stock worth $36,377,482 in the last ninety days. Insiders own 0.88% of the company’s stock.

Institutional Trading of Alphabet

A number of large investors have recently modified their holdings of the stock. Vermillion & White Wealth Management Group LLC acquired a new position in shares of Alphabet during the fourth quarter worth $30,000. Tributary Capital Management LLC acquired a new position in Alphabet in the first quarter valued at $30,000. DiNuzzo Private Wealth Inc. acquired a new position in Alphabet in the fourth quarter valued at $38,000. Meritage Group LP boosted its stake in Alphabet by 1,061.5% in the third 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 in the last quarter. Finally, Macroview Investment Management LLC boosted its stake in Alphabet by 165.8% in the third 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 in the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

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.