Alphabet (NASDAQ:GOOGL) PT Raised to $210.00 at Needham & Company LLC

Alphabet (NASDAQ:GOOGL) had its target price boosted by analysts at Needham & Company LLC from $160.00 to $210.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the information services provider’s stock. Needham & Company LLC’s price target points to a potential upside of 34.62% from the company’s current price.

GOOGL has been the subject of several other research reports. Truist Financial upped their price target on shares of Alphabet from $158.00 to $170.00 and gave the stock a “buy” rating in a research report on Wednesday, April 17th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $155.00 price target on shares of Alphabet in a research report on Wednesday, January 31st. UBS Group increased their price objective on shares of Alphabet from $150.00 to $166.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 16th. Wolfe Research increased their price objective on shares of Alphabet from $170.00 to $180.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 31st. Finally, Mizuho increased their price objective on shares of Alphabet from $170.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday. Five 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’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $164.41.

Alphabet Stock Performance

Shares of GOOGL opened at $156.00 on Friday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.10 and a current ratio of 2.10. The company has a market capitalization of $1.94 trillion, a price-to-earnings ratio of 26.90, a PEG ratio of 1.47 and a beta of 1.05. The company’s 50 day simple moving average is $147.22 and its 200 day simple moving average is $141.16. Alphabet has a 1 year low of $102.63 and a 1 year high of $160.22.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Tuesday, January 30th. The information services provider reported $1.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.60 by $0.04. The business had revenue of $86.31 billion for the quarter, compared to the consensus estimate 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 prior year, the firm posted $1.05 earnings per share. On average, sell-side analysts predict that Alphabet will post 6.78 EPS for the current year.

Insider Buying and Selling

In related news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $146.29, for a total transaction of $3,291,525.00. Following the completion of the sale, the chief executive officer now directly owns 2,377,691 shares in the company, valued at $347,832,416.39. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $146.29, for a total value of $3,291,525.00. Following the completion of the sale, the chief executive officer now directly owns 2,377,691 shares in the company, valued at $347,832,416.39. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 completion of the sale, the director now owns 15,104 shares of the company’s stock, valued at $2,326,922.24. The disclosure for this sale can be found here. Over the last three months, insiders sold 251,339 shares of company stock worth $36,377,482. 0.88% of the stock is owned by company insiders.

Institutional Trading of Alphabet

A number of institutional investors have recently added to or reduced their stakes in GOOGL. RWQ Financial Management Services Inc. raised its position in shares of Alphabet by 8.2% in the fourth quarter. RWQ Financial Management Services Inc. now owns 61,499 shares of the information services provider’s stock valued at $8,591,000 after purchasing an additional 4,664 shares during the period. Ballast Advisors LLC raised its position in shares of Alphabet by 9.6% in the third quarter. Ballast Advisors LLC now owns 15,747 shares of the information services provider’s stock valued at $2,061,000 after purchasing an additional 1,385 shares during the period. Quantum Financial Advisors LLC raised its position in shares of Alphabet by 8.0% in the third quarter. Quantum Financial Advisors LLC now owns 7,623 shares of the information services provider’s stock valued at $998,000 after purchasing an additional 564 shares during the period. Acadian Asset Management LLC raised its position in shares of Alphabet by 2.4% in the third quarter. Acadian Asset Management LLC now owns 4,416,533 shares of the information services provider’s stock valued at $577,908,000 after purchasing an additional 104,366 shares during the period. Finally, NatWest Group plc raised its position in shares of Alphabet by 239.0% in the fourth quarter. NatWest Group plc now owns 100,793 shares of the information services provider’s stock valued at $14,080,000 after purchasing an additional 71,057 shares during the period. 40.03% of the stock is currently owned by institutional investors and hedge funds.

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.