Alphabet (NASDAQ:GOOGL) Stock Price Expected to Rise, HSBC Analyst Says

Alphabet (NASDAQ:GOOGL) had its price objective boosted by equities researchers at HSBC from $335.00 to $370.00 in a research note issued on Tuesday,MarketScreener reports. The brokerage presently has a “buy” rating on the information services provider’s stock. HSBC’s target price indicates a potential upside of 15.76% from the company’s current price.

Other research analysts also recently issued reports about the company. President Capital raised their price objective on Alphabet from $258.00 to $323.00 and gave the company a “buy” rating in a research note on Thursday, November 6th. BMO Capital Markets set a $294.00 price target on Alphabet and gave the company an “outperform” rating in a report on Thursday, October 9th. DZ Bank reissued a “buy” rating on shares of Alphabet in a research report on Thursday, November 20th. Cantor Fitzgerald upped their price objective on shares of Alphabet from $265.00 to $310.00 and gave the stock a “neutral” rating in a report on Thursday, October 30th. Finally, Roth Capital raised their target price on shares of Alphabet from $210.00 to $265.00 and gave the company a “buy” rating in a research note on Thursday, October 16th. Four investment analysts have rated the stock with a Strong Buy rating, forty-one have given a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $312.06.

Alphabet Trading Up 1.2%

Shares of NASDAQ:GOOGL opened at $319.63 on Tuesday. The stock has a market capitalization of $3.86 trillion, a PE ratio of 31.52, a P/E/G ratio of 1.82 and a beta of 1.07. Alphabet has a 1 year low of $140.53 and a 1 year high of $328.83. The firm has a fifty day moving average price of $273.22 and a 200 day moving average price of $222.36. The company has a current ratio of 1.75, a quick ratio of 1.75 and a debt-to-equity ratio of 0.06.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share for the quarter, beating the consensus estimate of $2.29 by $0.58. Alphabet had a return on equity of 35.00% and a net margin of 32.23%.The company had revenue of $102.35 billion for the quarter, compared to analyst estimates of $99.90 billion. Analysts expect that Alphabet will post 8.9 EPS for the current fiscal year.

Insider Activity at Alphabet

In other news, Director Frances Arnold sold 102 shares of the company’s stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $317.66, for a total transaction of $32,401.32. Following the completion of the transaction, the director owned 18,104 shares of the company’s stock, valued at approximately $5,750,916.64. This represents a 0.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John L. Hennessy sold 600 shares of the stock in a transaction dated Thursday, November 13th. The shares were sold at an average price of $280.06, for a total transaction of $168,036.00. Following the completion of the sale, the director owned 4,516 shares of the company’s stock, valued at approximately $1,264,750.96. The trade was a 11.73% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 193,628 shares of company stock valued at $50,942,622. Company insiders own 11.64% of the company’s stock.

Institutional Trading of Alphabet

A number of institutional investors and hedge funds have recently modified their holdings of the company. Financial Gravity Companies Inc. acquired a new stake in shares of Alphabet during the 2nd quarter valued at about $31,000. NBZ Investment Advisors LLC lifted its stake in Alphabet by 85.7% during the first quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider’s stock worth $30,000 after purchasing an additional 90 shares during the period. iSAM Funds UK Ltd acquired a new stake in Alphabet during the third quarter valued at approximately $53,000. Pilgrim Partners Asia Pte Ltd acquired a new stake in Alphabet during the third quarter valued at approximately $53,000. Finally, Corsicana & Co. bought a new stake in shares of Alphabet in the 3rd quarter valued at approximately $54,000. 40.03% of the stock is currently owned by institutional investors.

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.