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Alphabet (NASDAQ:GOOGL – Get Free Report) had its price target cut by analysts at Truist Financial from $220.00 to $200.00 in a report released on Thursday,Benzinga reports. The firm presently has a “buy” rating on the information services provider’s stock. Truist Financial’s price target suggests a potential upside of 32.38% from the stock’s previous close.
Other equities analysts also recently issued reports about the company. Morgan Stanley dropped their price objective on Alphabet from $215.00 to $210.00 and set an “overweight” rating for the company in a research note on Wednesday, February 5th. UBS Group set a $190.00 price objective on shares of Alphabet in a research note on Thursday, March 27th. DA Davidson lowered their target price on Alphabet from $200.00 to $160.00 and set a “neutral” rating on the stock in a report on Monday, April 14th. Jefferies Financial Group decreased their price objective on Alphabet from $235.00 to $200.00 and set a “buy” rating on the stock in a research note on Monday, March 31st. Finally, Rosenblatt Securities reiterated a “neutral” rating and issued a $205.00 price target on shares of Alphabet in a report on Wednesday, March 19th. Ten research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and five have issued a strong buy rating to the company’s stock. According to data from MarketBeat, Alphabet presently has an average rating of “Moderate Buy” and an average target price of $200.74.
Read Our Latest Research Report on GOOGL
Alphabet Trading Down 1.5 %
Shares of Alphabet stock opened at $151.08 on Thursday. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03. The firm has a market cap of $1.84 trillion, a price-to-earnings ratio of 18.77, a price-to-earnings-growth ratio of 1.34 and a beta of 1.03. Alphabet has a 52-week low of $140.53 and a 52-week high of $207.05. The company’s 50-day simple moving average is $165.14 and its 200-day simple moving average is $175.77.
Alphabet (NASDAQ:GOOGL – Get Free Report) last released its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 earnings per share (EPS) for the quarter, topping the consensus estimate 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, equities research analysts anticipate that Alphabet will post 8.9 earnings per share for the current year.
Insiders Place Their Bets
In other news, CAO Amie Thuener O’toole sold 1,340 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $202.08, for a total value of $270,787.20. Following the completion of the sale, the chief accounting officer now directly owns 17,848 shares in the company, valued at approximately $3,606,723.84. The trade was a 6.98 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $158.56, for a total value of $5,153,200.00. Following the transaction, the chief executive officer now owns 2,717,696 shares in the company, valued at $430,917,877.76. This trade represents a 1.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 148,163 shares of company stock valued at $25,361,647 in the last ninety days. Corporate insiders own 11.55% of the company’s stock.
Institutional Investors Weigh In On Alphabet
A number of institutional investors have recently modified their holdings of the business. Norges Bank bought a new position in Alphabet in the fourth quarter worth about $24,383,677,000. FMR LLC lifted its holdings in shares of Alphabet by 9.8% in the 4th quarter. FMR LLC now owns 248,416,916 shares of the information services provider’s stock worth $47,025,322,000 after purchasing an additional 22,100,902 shares during the last quarter. GAMMA Investing LLC boosted its position in Alphabet by 16,993.2% during the 1st quarter. GAMMA Investing LLC now owns 16,062,457 shares of the information services provider’s stock valued at $2,483,898,000 after purchasing an additional 15,968,487 shares during the period. Northern Trust Corp grew its stake in Alphabet by 17.0% during the 4th quarter. Northern Trust Corp now owns 69,616,854 shares of the information services provider’s stock worth $13,178,470,000 after buying an additional 10,135,430 shares during the last quarter. Finally, Capital Research Global Investors increased its position in Alphabet by 16.2% in the fourth quarter. Capital Research Global Investors now owns 72,033,086 shares of the information services provider’s stock worth $13,635,878,000 after buying an additional 10,037,685 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.
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