Alphabet (NASDAQ:GOOGL) Price Target Raised to $166.00 at UBS Group

Alphabet (NASDAQ:GOOGL) had its target price upped by UBS Group from $150.00 to $166.00 in a research note published on Tuesday morning, Benzinga reports. The brokerage currently has a neutral rating on the information services provider’s stock.

Several other research firms have also recently weighed in on GOOGL. Wells Fargo & Company cut their price target on Alphabet from $144.00 to $141.00 and set an equal weight rating for the company in a report on Wednesday, April 3rd. Roth Mkm cut their price target on Alphabet from $166.00 to $164.00 and set a buy rating for the company in a report on Wednesday, January 31st. Citigroup reaffirmed a buy rating and issued a $168.00 price objective on shares of Alphabet in a research note on Wednesday, April 10th. Royal Bank of Canada reaffirmed an outperform rating and issued a $155.00 price objective on shares of Alphabet in a research note on Wednesday, January 31st. Finally, Wedbush reaffirmed an outperform rating and issued a $175.00 price objective on shares of Alphabet in a research note on Wednesday, April 10th. Five investment analysts have rated the stock with a hold rating, twenty-six have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus target price of $156.64.

Alphabet Stock Performance

NASDAQ GOOGL opened at $154.40 on Tuesday. The firm has a market cap of $1.92 trillion, a price-to-earnings ratio of 26.62, a price-to-earnings-growth ratio of 1.46 and a beta of 1.05. The company has a quick ratio of 2.10, a current ratio of 2.10 and a debt-to-equity ratio of 0.05. The business has a 50-day moving average price of $145.76 and a 200-day moving average price of $140.19. Alphabet has a twelve month low of $102.63 and a twelve month high of $160.22.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Tuesday, January 30th. The information services provider reported $1.64 earnings per share for the quarter, topping analysts’ consensus estimates of $1.60 by $0.04. The firm had revenue of $86.31 billion during the quarter, compared to analyst estimates of $70.77 billion. Alphabet had a return on equity of 27.22% and a net margin of 24.01%. During the same quarter in the prior year, the company posted $1.05 earnings per share. As a group, equities research analysts predict that Alphabet will post 6.78 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, SVP Prabhakar Raghavan sold 3,258 shares of the business’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $155.97, for a total value of $508,150.26. Following the completion of the transaction, the senior vice president now owns 144,685 shares of the company’s stock, valued at approximately $22,566,519.45. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $132.70, for a total value of $2,985,750.00. Following the completion of the transaction, the chief executive officer now owns 2,332,691 shares of the company’s stock, valued at approximately $309,548,095.70. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Prabhakar Raghavan sold 3,258 shares of the business’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $155.97, for a total value of $508,150.26. Following the completion of the transaction, the senior vice president now directly owns 144,685 shares of the company’s stock, valued at approximately $22,566,519.45. The disclosure for this sale can be found here. Insiders have sold 228,839 shares of company stock worth $32,835,757 in the last ninety days. 0.88% of the stock is owned by company insiders.

Hedge Funds Weigh In On Alphabet

Large investors have recently bought and sold shares of the business. Spreng Capital Management Inc. boosted its position in Alphabet by 4.0% during the first quarter. Spreng Capital Management Inc. now owns 131 shares of the information services provider’s stock worth $364,000 after purchasing an additional 5 shares in the last quarter. West Family Investments Inc. boosted its position in Alphabet by 0.3% during the first quarter. West Family Investments Inc. now owns 1,754 shares of the information services provider’s stock worth $4,878,000 after purchasing an additional 6 shares in the last quarter. Maple Capital Management Inc. boosted its position in Alphabet by 2.1% during the first quarter. Maple Capital Management Inc. now owns 296 shares of the information services provider’s stock worth $823,000 after purchasing an additional 6 shares in the last quarter. Private Advisory Group LLC boosted its position in Alphabet by 1.8% during the first quarter. Private Advisory Group LLC now owns 401 shares of the information services provider’s stock worth $1,115,000 after purchasing an additional 7 shares in the last quarter. Finally, Weik Capital Management boosted its position in Alphabet by 0.5% during the first quarter. Weik Capital Management now owns 1,533 shares of the information services provider’s stock worth $4,264,000 after purchasing an additional 8 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

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.