Alphabet (NASDAQ:GOOGL) Price Target Raised to $200.00 at TD Cowen

Alphabet (NASDAQ:GOOGL) had its target price upped by TD Cowen from $170.00 to $200.00 in a research report issued on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the information services provider’s stock. TD Cowen’s target price indicates a potential upside of 16.73% from the company’s current price.

A number of other brokerages also recently weighed in on GOOGL. KeyCorp boosted their target price on shares of Alphabet from $165.00 to $175.00 and gave the stock an “overweight” rating in a report on Monday. Susquehanna lifted their price target on Alphabet from $150.00 to $170.00 and gave the company a “positive” rating in a research note on Wednesday, January 31st. Stifel Nicolaus boosted their target price on shares of Alphabet from $174.00 to $196.00 and gave the stock a “buy” rating in a research note on Friday. Wedbush raised their target price on Alphabet from $175.00 to $205.00 and gave the stock an “outperform” rating in a research report on Friday. Finally, Royal Bank of Canada boosted their price target on shares of Alphabet from $155.00 to $200.00 and gave the stock an “outperform” rating in a research report on Friday. Five equities research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $185.18.

Alphabet Stock Performance

Shares of GOOGL stock traded up $15.33 during trading on Friday, reaching $171.33. The company had a trading volume of 47,762,738 shares, compared to its average volume of 30,432,857. The firm’s 50 day simple moving average is $147.22 and its two-hundred day simple moving average is $141.16. 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 has a one year low of $103.54 and a one year high of $174.71. The company has a market capitalization of $2.13 trillion, a PE ratio of 29.70, a PEG ratio of 1.47 and a beta of 1.05.

Alphabet (NASDAQ:GOOGL) last issued its earnings results on Tuesday, January 30th. The information services provider reported $1.64 earnings per share for the quarter, beating the consensus estimate of $1.60 by $0.04. The business had revenue of $86.31 billion for the quarter, compared to analyst estimates 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 previous year, the business earned $1.05 EPS. Sell-side analysts forecast that Alphabet will post 6.78 earnings per share for the current year.

Insider Buying and Selling at Alphabet

In other news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction 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 of the company’s stock, valued at approximately $347,832,416.39. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $146.29, for a total value of $3,291,525.00. Following the transaction, the chief executive officer now directly owns 2,377,691 shares in the company, valued at $347,832,416.39. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John L. Hennessy sold 800 shares of the firm’s stock in a transaction that occurred on Friday, April 12th. The stock was sold at an average price of $159.56, for a total transaction of $127,648.00. Following the sale, the director now directly owns 7,991 shares in the company, valued at approximately $1,275,043.96. The disclosure for this sale can be found here. Insiders have sold 251,339 shares of company stock valued at $36,377,482 in the last quarter. Corporate insiders own 0.88% of the company’s stock.

Institutional Investors Weigh In On Alphabet

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Tributary Capital Management LLC acquired a new stake in shares of Alphabet in the 1st quarter worth $30,000. Vermillion & White Wealth Management Group LLC purchased a new stake in shares of Alphabet during the 4th quarter worth $30,000. DiNuzzo Private Wealth Inc. acquired a new position in shares of Alphabet during the 4th quarter worth $38,000. Richardson Capital Management LLC increased its holdings in shares of Alphabet by 87.5% in the 1st quarter. Richardson Capital Management LLC now owns 300 shares of the information services provider’s stock valued at $45,000 after purchasing an additional 140 shares in the last quarter. Finally, Meritage Group LP lifted its stake in shares of Alphabet by 1,061.5% in the third quarter. Meritage Group LP now owns 302 shares of the information services provider’s stock valued at $40,000 after purchasing an additional 276 shares during the period. Hedge funds and other institutional investors 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.