Alphabet (NASDAQ:GOOGL) Price Target Raised to $175.00 at KeyCorp

Alphabet (NASDAQ:GOOGL) had its target price raised by KeyCorp from $165.00 to $175.00 in a research report issued to clients and investors on Monday, Benzinga reports. The brokerage presently has an “overweight” rating on the information services provider’s stock. KeyCorp’s price target points to a potential upside of 10.58% from the company’s previous close.

Other equities analysts have also recently issued research reports about the stock. JMP Securities reissued a “market outperform” rating and set a $160.00 target price on shares of Alphabet in a research note on Wednesday, April 10th. Citigroup reissued a “buy” rating and set a $168.00 target price on shares of Alphabet in a research note on Wednesday, April 10th. Roth Mkm lowered their target price on shares of Alphabet from $166.00 to $164.00 and set a “buy” rating on the stock in a research note on Wednesday, January 31st. Truist Financial raised their target price on shares of Alphabet from $158.00 to $170.00 and gave the company a “buy” rating in a research note on Wednesday, April 17th. Finally, 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. Five research analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Alphabet has an average rating of “Moderate Buy” and an average price target of $158.71.

Alphabet Trading Up 1.3 %

Shares of NASDAQ:GOOGL opened at $158.26 on Monday. The company has a market cap of $1.97 trillion, a PE ratio of 27.29, a P/E/G ratio of 1.42 and a beta of 1.05. The company’s 50-day moving average price is $146.69 and its 200 day moving average price is $140.93. Alphabet has a fifty-two week low of $102.63 and a fifty-two week high of $160.22. The company has a quick ratio of 2.10, a current ratio of 2.10 and a debt-to-equity ratio of 0.05.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Tuesday, January 30th. The information services provider reported $1.64 EPS for the quarter, beating 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 quarter last year, the company earned $1.05 EPS. Sell-side analysts anticipate that Alphabet will post 6.78 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $146.29, for a total transaction of $3,291,525.00. Following the completion of the sale, the chief executive officer now directly owns 2,377,691 shares in the company, valued at $347,832,416.39. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Alphabet news, Director Frances Arnold sold 230 shares of Alphabet stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $154.06, for a total value of $35,433.80. Following the completion of the sale, the director now directly owns 15,104 shares in the company, valued at $2,326,922.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $146.29, for a total transaction of $3,291,525.00. Following the completion of the sale, the chief executive officer now owns 2,377,691 shares of the company’s stock, valued at $347,832,416.39. The disclosure for this sale can be found here. Over the last three months, insiders sold 251,339 shares of company stock worth $36,377,482. 0.88% of the stock is owned by company insiders.

Institutional Trading of Alphabet

A number of institutional investors have recently added to or reduced their stakes in GOOGL. Norges Bank acquired a new stake in shares of Alphabet in the fourth quarter worth $15,441,917,000. FMR LLC lifted its stake in shares of Alphabet by 5.6% in the third quarter. FMR LLC now owns 227,317,469 shares of the information services provider’s stock worth $29,746,764,000 after buying an additional 12,070,681 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Alphabet by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 493,810,251 shares of the information services provider’s stock worth $68,980,354,000 after buying an additional 6,374,756 shares during the last quarter. Public Employees Retirement Association of Colorado lifted its stake in shares of Alphabet by 39,754.9% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 6,025,667 shares of the information services provider’s stock worth $841,725,000 after buying an additional 6,010,548 shares during the last quarter. Finally, International Assets Investment Management LLC lifted its stake in shares of Alphabet by 4,894.1% in the fourth quarter. International Assets Investment Management LLC now owns 5,445,396 shares of the information services provider’s stock worth $7,606,670,000 after buying an additional 5,336,359 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.