Alphabet (NASDAQ:GOOGL) Price Target Raised to $215.00 at BMO Capital Markets

Alphabet (NASDAQ:GOOGL) had its price objective upped by stock analysts at BMO Capital Markets from $185.00 to $215.00 in a research report issued on Friday, Benzinga reports. The brokerage presently has an “outperform” rating on the information services provider’s stock. BMO Capital Markets’ target price suggests a potential upside of 25.94% from the company’s previous close.

GOOGL has been the subject of several other research reports. Citigroup increased their target price on shares of Alphabet from $168.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday. Needham & Company LLC increased their price target on shares of Alphabet from $160.00 to $210.00 and gave the stock a “buy” rating in a report on Friday. Roth Mkm increased their price target on shares of Alphabet from $164.00 to $202.00 and gave the stock a “buy” rating in a report on Friday. JMP Securities increased their target price on shares of Alphabet from $160.00 to $200.00 and gave the company a “market outperform” rating in a report on Friday. Finally, UBS Group increased their target price on shares of Alphabet from $150.00 to $166.00 and gave the company a “neutral” rating in a report on Tuesday, April 16th. Five analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $187.82.

Alphabet Stock Performance

Shares of GOOGL traded up $14.72 during mid-day trading on Friday, hitting $170.72. 49,616,376 shares of the company’s stock were exchanged, compared to its average volume of 30,449,654. Alphabet has a fifty-two week low of $103.54 and a fifty-two week high of $174.71. The firm has a market capitalization of $2.12 trillion, a P/E ratio of 29.54, a P/E/G ratio of 1.47 and a beta of 1.05. The business’s 50 day moving average is $147.22 and its two-hundred day moving average 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.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Tuesday, January 30th. The information services provider reported $1.64 earnings per share for the quarter, topping 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 quarter in the prior year, the firm earned $1.05 earnings per share. On average, equities analysts expect that Alphabet will post 6.78 earnings per share for the current year.

Insider Activity at Alphabet

In related news, Director John L. Hennessy sold 800 shares of Alphabet stock in a transaction on Friday, April 12th. The shares were sold at an average price of $159.56, for a total transaction of $127,648.00. Following the transaction, the director now owns 7,991 shares in the company, valued at approximately $1,275,043.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director John L. Hennessy sold 800 shares of Alphabet stock in a transaction on Friday, April 12th. The shares were sold at an average price of $159.56, for a total transaction of $127,648.00. Following the sale, the director now owns 7,991 shares of the company’s stock, valued at approximately $1,275,043.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Frances Arnold sold 230 shares of Alphabet stock in a transaction on Tuesday, January 30th. The stock was 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. In the last 90 days, insiders have sold 251,339 shares of company stock worth $36,377,482. 0.88% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Alphabet

A number of institutional investors have recently modified their holdings of the business. Chico Wealth RIA acquired a new position in Alphabet during the 3rd quarter valued at about $330,000. Summit Global Investments lifted its stake in shares of Alphabet by 67.7% in the 3rd quarter. Summit Global Investments now owns 241,463 shares of the information services provider’s stock worth $31,598,000 after acquiring an additional 97,466 shares during the period. Prentice Wealth Management LLC lifted its stake in shares of Alphabet by 18.1% in the 3rd quarter. Prentice Wealth Management LLC now owns 7,140 shares of the information services provider’s stock worth $934,000 after acquiring an additional 1,096 shares during the period. Sunflower Bank N.A. lifted its stake in shares of Alphabet by 6.3% in the 3rd quarter. Sunflower Bank N.A. now owns 5,951 shares of the information services provider’s stock worth $779,000 after acquiring an additional 353 shares during the period. Finally, David J Yvars Group lifted its stake in shares of Alphabet by 10.3% in the 3rd quarter. David J Yvars Group now owns 4,170 shares of the information services provider’s stock worth $546,000 after acquiring an additional 390 shares during the period. 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.