Alphabet (NASDAQ:GOOGL) PT Raised to $168.00 at Wells Fargo & Company

Alphabet (NASDAQ:GOOGL) had its price objective boosted by equities researchers at Wells Fargo & Company from $141.00 to $168.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage presently has an “equal weight” rating on the information services provider’s stock. Wells Fargo & Company‘s price target suggests a potential upside of 7.69% from the stock’s current price.

Several other equities analysts also recently commented on GOOGL. 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 report on Wednesday, January 31st. Wedbush increased their target price on shares of Alphabet from $175.00 to $205.00 and gave the stock an “outperform” rating in a research report on Friday. Citigroup increased their target price on shares of Alphabet from $168.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday. Redburn Atlantic increased their target price on shares of Alphabet from $150.00 to $165.00 and gave the stock a “buy” rating in a research report on Wednesday, January 31st. Finally, Mizuho increased their target price on shares of Alphabet from $170.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday. Five analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $173.00.

Alphabet Trading Down 2.0 %

NASDAQ GOOGL opened at $156.00 on Friday. Alphabet has a 1-year low of $102.63 and a 1-year high of $160.22. The company has a current ratio of 2.10, a quick ratio of 2.10 and a debt-to-equity ratio of 0.05. The company has a market capitalization of $1.94 trillion, a PE ratio of 26.90, a price-to-earnings-growth ratio of 1.47 and a beta of 1.05. The firm’s fifty day simple moving average is $147.22 and its 200-day simple moving average is $141.16.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Tuesday, January 30th. The information services provider reported $1.64 earnings per share for the quarter, topping analysts’ consensus estimates of $1.60 by $0.04. Alphabet had a net margin of 24.01% and a return on equity of 27.22%. The business had revenue of $86.31 billion for the quarter, compared to the consensus estimate of $70.77 billion. During the same period in the prior year, the business posted $1.05 earnings per share. As a group, sell-side analysts anticipate that Alphabet will post 6.78 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Alphabet news, Director Frances Arnold sold 230 shares of the firm’s stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $154.06, for a total transaction of $35,433.80. Following the completion of the transaction, the director now owns 15,104 shares in the company, valued at $2,326,922.24. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, Director John L. Hennessy sold 800 shares of the firm’s stock in a transaction that occurred on Friday, April 12th. The shares were sold at an average price of $159.56, for a total value of $127,648.00. Following the completion of the sale, the director now owns 7,991 shares of the company’s stock, valued at $1,275,043.96. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Frances Arnold sold 230 shares of the firm’s stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $154.06, for a total transaction of $35,433.80. Following the completion of the transaction, the director now directly owns 15,104 shares in the company, valued at $2,326,922.24. The disclosure for this sale can be found here. Insiders sold a total of 251,339 shares of company stock worth $36,377,482 over the last quarter. Company insiders own 0.88% of the company’s stock.

Hedge Funds Weigh In On Alphabet

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Vermillion & White Wealth Management Group LLC bought a new position in shares of Alphabet during the fourth quarter worth $30,000. Tributary Capital Management LLC bought a new position in shares of Alphabet during the first quarter worth $30,000. DiNuzzo Private Wealth Inc. bought a new stake in Alphabet in the 4th quarter valued at $38,000. Meritage Group LP lifted its position in Alphabet by 1,061.5% in the 3rd quarter. Meritage Group LP now owns 302 shares of the information services provider’s stock valued at $40,000 after acquiring an additional 276 shares in the last quarter. Finally, Macroview Investment Management LLC lifted its position in Alphabet by 165.8% in the 3rd quarter. Macroview Investment Management LLC now owns 319 shares of the information services provider’s stock valued at $42,000 after acquiring an additional 199 shares in the last quarter. 40.03% of the stock is 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.