Alphabet (NASDAQ:GOOGL) PT Raised to $220.00 at Evercore ISI

Alphabet (NASDAQ:GOOGL) had its target price increased by equities researchers at Evercore ISI from $160.00 to $220.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm presently has an “outperform” rating on the information services provider’s stock. Evercore ISI’s price target indicates a potential upside of 27.94% from the company’s previous close.

GOOGL has been the topic of a number of other research reports. Jefferies Financial Group increased their target price on Alphabet from $175.00 to $180.00 and gave the stock a “buy” rating in a research note on Friday, April 19th. Redburn Atlantic increased their price objective on Alphabet from $150.00 to $165.00 and gave the stock a “buy” rating in a research report on Wednesday, January 31st. Wedbush lifted their target price on Alphabet from $175.00 to $205.00 and gave the stock an “outperform” rating in a report on Friday. Citigroup upped their price target on shares of Alphabet from $168.00 to $190.00 and gave the company a “buy” rating in a research note on Friday. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $155.00 price objective on shares of Alphabet in a research note on Wednesday, January 31st. Five research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Alphabet has a consensus rating of “Moderate Buy” and an average target price of $187.82.

Alphabet Trading Up 10.2 %

GOOGL stock opened at $171.95 on Friday. Alphabet has a one year low of $103.54 and a one year high of $174.71. The stock has a market cap of $2.14 trillion, a price-to-earnings ratio of 26.37, a price-to-earnings-growth ratio of 1.43 and a beta of 1.05. The company has a fifty day moving average price of $147.85 and a two-hundred day moving average price of $141.42. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.10 and a quick ratio of 2.10.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Tuesday, January 30th. The information services provider reported $1.64 EPS for the quarter, topping the consensus estimate of $1.60 by $0.04. The business had revenue of $86.31 billion during the quarter, compared to the consensus estimate of $70.77 billion. Alphabet had a net margin of 25.90% and a return on equity of 30.01%. During the same quarter in the previous year, the firm posted $1.05 EPS. Equities analysts anticipate that Alphabet will post 6.79 EPS for the current year.

Insider Activity at Alphabet

In other news, CAO Amie Thuener O’toole sold 660 shares of the firm’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $143.59, for a total transaction of $94,769.40. Following the completion of the transaction, the chief accounting officer now owns 27,920 shares of the company’s stock, valued at $4,009,032.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director John L. Hennessy sold 2,100 shares of the company’s stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $175.76, for a total value of $369,096.00. Following the sale, the director now directly owns 5,891 shares in the company, valued at $1,035,402.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Amie Thuener O’toole sold 660 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $143.59, for a total transaction of $94,769.40. Following the transaction, the chief accounting officer now owns 27,920 shares of the company’s stock, valued at approximately $4,009,032.80. The disclosure for this sale can be found here. Insiders sold a total of 253,439 shares of company stock worth $36,746,578 in the last quarter. 0.88% of the stock is owned by insiders.

Institutional Investors Weigh In On Alphabet

Several large investors have recently modified their holdings of GOOGL. M. Kraus & Co raised its holdings in shares of Alphabet by 1.1% in the first quarter. M. Kraus & Co now owns 6,267 shares of the information services provider’s stock valued at $946,000 after purchasing an additional 66 shares during the last quarter. Wynn Capital LLC increased its stake in Alphabet by 3.9% in the 1st quarter. Wynn Capital LLC now owns 1,767 shares of the information services provider’s stock valued at $267,000 after buying an additional 67 shares during the last quarter. Aire Advisors LLC lifted its position in shares of Alphabet by 0.6% during the 4th quarter. Aire Advisors LLC now owns 11,772 shares of the information services provider’s stock worth $1,645,000 after buying an additional 68 shares in the last quarter. Henrickson Nauta Wealth Advisors Inc. boosted its stake in shares of Alphabet by 2.1% in the 1st quarter. Henrickson Nauta Wealth Advisors Inc. now owns 3,274 shares of the information services provider’s stock worth $511,000 after buying an additional 68 shares during the last quarter. Finally, Penbrook Management LLC boosted its stake in shares of Alphabet by 0.3% in the 1st quarter. Penbrook Management LLC now owns 23,170 shares of the information services provider’s stock worth $3,497,000 after buying an additional 70 shares during the last quarter. 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.