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

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

GOOGL has been the topic of several other reports. Barclays decreased their price target on shares of Alphabet from $180.00 to $173.00 and set an overweight rating on the stock in a research note on Wednesday, January 31st. Redburn Atlantic boosted their target price on Alphabet from $150.00 to $165.00 and gave the stock a buy rating in a research report on Wednesday, January 31st. BMO Capital Markets reaffirmed an outperform rating and set a $185.00 price target (up previously from $178.00) on shares of Alphabet in a research note on Wednesday, April 10th. StockNews.com upgraded Alphabet from a buy rating to a strong-buy rating in a research report on Wednesday, December 20th. Finally, Susquehanna upped their target price on shares of Alphabet from $150.00 to $170.00 and gave the company a positive rating in a research report on Wednesday, January 31st. Five equities research analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus target price of $158.41.

Alphabet Stock Performance

Alphabet stock opened at $154.09 on Tuesday. The firm has a market capitalization of $1.92 trillion, a P/E ratio of 26.57, a P/E/G ratio of 1.43 and a beta of 1.05. The stock has a fifty day moving average price of $146.26 and a two-hundred day moving average price of $140.54. Alphabet has a 52-week low of $102.63 and a 52-week high of $160.22. 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 issued its quarterly earnings data on Tuesday, January 30th. The information services provider reported $1.64 earnings per share for the quarter, topping the consensus estimate of $1.60 by $0.04. The firm had revenue of $86.31 billion for the quarter, compared to analysts’ expectations of $70.77 billion. Alphabet had a net margin of 24.01% and a return on equity of 27.22%. During the same period in the prior year, the firm earned $1.05 earnings per share. As a group, analysts anticipate that Alphabet will post 6.78 EPS for the current fiscal year.

Insider Buying and Selling at Alphabet

In related news, CAO Amie Thuener O’toole sold 660 shares of Alphabet stock in a transaction dated 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 sale, the chief accounting officer now owns 27,920 shares of the company’s stock, valued at approximately $4,009,032.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Alphabet news, Director Frances Arnold sold 230 shares of the stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $154.06, for a total transaction of $35,433.80. Following the transaction, the director now owns 15,104 shares in the company, valued at approximately $2,326,922.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Amie Thuener O’toole sold 660 shares of the business’s stock in a transaction dated 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 sale, the chief accounting officer now directly 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 251,339 shares of company stock valued at $36,377,482 in the last quarter. 0.88% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Alphabet

Several institutional investors have recently made changes to their positions in GOOGL. Maryland State Retirement & Pension System raised its stake in Alphabet by 0.6% in the first quarter. Maryland State Retirement & Pension System now owns 464,818 shares of the information services provider’s stock valued at $71,898,000 after purchasing an additional 2,754 shares in the last quarter. Kesler Norman & Wride LLC increased its holdings in Alphabet by 164.0% in the 1st quarter. Kesler Norman & Wride LLC now owns 18,267 shares of the information services provider’s stock valued at $2,757,000 after buying an additional 11,348 shares during the period. FORVIS Wealth Advisors LLC raised its position in shares of Alphabet by 32.9% in the 1st quarter. FORVIS Wealth Advisors LLC now owns 99,625 shares of the information services provider’s stock valued at $15,036,000 after buying an additional 24,672 shares in the last quarter. Horizon Bancorp Inc. IN lifted its holdings in shares of Alphabet by 4.1% during the 1st quarter. Horizon Bancorp Inc. IN now owns 2,193 shares of the information services provider’s stock worth $331,000 after acquiring an additional 87 shares during the period. Finally, GenTrust LLC acquired a new stake in shares of Alphabet during the 1st quarter worth approximately $755,000. 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.