Alphabet (NASDAQ:GOOGL) Given New $205.00 Price Target at Mizuho

Alphabet (NASDAQ:GOOGL) had its target price reduced by investment analysts at Mizuho from $230.00 to $205.00 in a report released on Wednesday,Benzinga reports. The firm presently has an “outperform” rating on the information services provider’s stock. Mizuho’s price objective points to a potential upside of 41.67% from the stock’s current price.

Other analysts have also issued research reports about the company. KeyCorp cut their price objective on Alphabet from $220.00 to $202.00 and set an “overweight” rating for the company in a report on Tuesday, March 18th. Bank of America restated a “buy” rating and set a $210.00 price target on shares of Alphabet in a research note on Monday, December 23rd. Westpark Capital upgraded shares of Alphabet to a “strong-buy” rating in a research note on Tuesday, April 1st. Stifel Nicolaus raised their price objective on shares of Alphabet from $200.00 to $225.00 and gave the stock a “buy” rating in a report on Monday, January 13th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and set a $210.00 target price on shares of Alphabet in a report on Thursday, December 12th. Ten analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and five have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $207.97.

Alphabet Stock Performance

GOOGL stock opened at $144.70 on Wednesday. Alphabet has a 12-month low of $140.53 and a 12-month high of $207.05. The stock’s 50 day simple moving average is $172.22 and its 200 day simple moving average is $176.46. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03. The stock has a market capitalization of $1.76 trillion, a PE ratio of 17.98, a price-to-earnings-growth ratio of 1.34 and a beta of 1.03.

Alphabet (NASDAQ:GOOGL) last issued its earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share for the quarter, topping analysts’ consensus estimates of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. As a group, research analysts forecast that Alphabet will post 8.9 earnings per share for the current fiscal year.

Insider Activity at Alphabet

In related news, Director John L. Hennessy sold 1,500 shares of the stock in a transaction on Monday, January 13th. The stock was sold at an average price of $189.80, for a total transaction of $284,700.00. Following the sale, the director now owns 21,824 shares in the company, valued at approximately $4,142,195.20. This represents a 6.43 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $158.56, for a total transaction of $5,153,200.00. Following the transaction, the chief executive officer now directly owns 2,717,696 shares of the company’s stock, valued at $430,917,877.76. The trade was a 1.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 119,797 shares of company stock valued at $21,089,470. Insiders own 11.55% of the company’s stock.

Hedge Funds Weigh In On Alphabet

Several hedge funds have recently added to or reduced their stakes in the company. Principal Financial Group Inc. grew its holdings in shares of Alphabet by 3.1% in the third quarter. Principal Financial Group Inc. now owns 11,283,594 shares of the information services provider’s stock worth $1,871,384,000 after purchasing an additional 337,031 shares during the last quarter. First Commonwealth Financial Corp PA grew its stake in Alphabet by 0.7% in the 3rd quarter. First Commonwealth Financial Corp PA now owns 31,900 shares of the information services provider’s stock worth $5,291,000 after acquiring an additional 218 shares in the last quarter. FORA Capital LLC increased its position in shares of Alphabet by 222.5% during the third quarter. FORA Capital LLC now owns 22,500 shares of the information services provider’s stock worth $3,732,000 after acquiring an additional 15,523 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Alphabet by 9.1% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,385,621 shares of the information services provider’s stock valued at $727,355,000 after acquiring an additional 364,348 shares in the last quarter. Finally, Boussard & Gavaudan Investment Management LLP purchased a new stake in shares of Alphabet in the third quarter valued at approximately $17,523,000. 40.03% of the stock is currently owned by 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.