Alphabet (NASDAQ:GOOG) Price Target Increased to $220.00 by Analysts at Barclays

Alphabet (NASDAQ:GOOG) had its target price hoisted by investment analysts at Barclays from $200.00 to $220.00 in a report released on Wednesday, Benzinga reports. The brokerage presently has an “overweight” rating on the information services provider’s stock. Barclays‘s price objective suggests a potential upside of 20.33% from the stock’s previous close.

Other analysts also recently issued research reports about the company. Pivotal Research raised their price objective on Alphabet from $215.00 to $225.00 and gave the stock a “buy” rating in a research note on Wednesday. TD Cowen raised their price objective on Alphabet from $200.00 to $220.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. Cantor Fitzgerald raised Alphabet to a “hold” rating in a research note on Thursday, September 5th. Scotiabank assumed coverage on Alphabet in a research note on Friday, October 11th. They set a “sector outperform” rating and a $212.00 price objective on the stock. Finally, Jefferies Financial Group increased their target price on Alphabet from $220.00 to $235.00 and gave the stock a “buy” rating in a report on Wednesday. Five investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $198.69.

Alphabet Stock Performance

GOOG stock opened at $182.83 on Wednesday. The business’s fifty day moving average is $163.39 and its 200-day moving average is $170.26. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04. The company has a market cap of $2.26 trillion, a P/E ratio of 26.25, a price-to-earnings-growth ratio of 1.27 and a beta of 1.04. Alphabet has a twelve month low of $123.93 and a twelve month high of $193.31.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. The company had revenue of $88.27 billion for the quarter, compared to the consensus estimate of $86.39 billion. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The firm’s quarterly revenue was up 15.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.55 EPS. Equities research analysts forecast that Alphabet will post 7.64 EPS for the current year.

Insider Activity

In related news, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $168.00, for a total transaction of $114,576.00. Following the completion of the transaction, the chief accounting officer now owns 31,334 shares in the company, valued at approximately $5,264,112. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $168.00, for a total transaction of $114,576.00. Following the completion of the transaction, the chief accounting officer now owns 31,334 shares in the company, valued at approximately $5,264,112. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director John L. Hennessy sold 700 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $165.00, for a total transaction of $115,500.00. Following the sale, the director now owns 29,324 shares of the company’s stock, valued at $4,838,460. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 220,426 shares of company stock worth $35,993,340 in the last quarter. Corporate insiders own 12.99% of the company’s stock.

Institutional Investors Weigh In On Alphabet

Several hedge funds have recently bought and sold shares of the stock. PDS Planning Inc lifted its position in Alphabet by 0.3% during the third quarter. PDS Planning Inc now owns 31,501 shares of the information services provider’s stock worth $5,267,000 after acquiring an additional 83 shares during the last quarter. Palisades Hudson Asset Management L.P. raised its position in shares of Alphabet by 2.9% in the third quarter. Palisades Hudson Asset Management L.P. now owns 7,288 shares of the information services provider’s stock valued at $1,219,000 after buying an additional 208 shares in the last quarter. QRG Capital Management Inc. raised its position in shares of Alphabet by 11.1% in the third quarter. QRG Capital Management Inc. now owns 909,977 shares of the information services provider’s stock valued at $152,139,000 after buying an additional 90,875 shares in the last quarter. Asset Management One Co. Ltd. raised its position in shares of Alphabet by 0.6% in the third quarter. Asset Management One Co. Ltd. now owns 2,075,112 shares of the information services provider’s stock valued at $346,938,000 after buying an additional 11,458 shares in the last quarter. Finally, National Pension Service raised its position in shares of Alphabet by 14.0% in the third quarter. National Pension Service now owns 9,903,537 shares of the information services provider’s stock valued at $1,655,772,000 after buying an additional 1,218,671 shares in the last quarter. 27.26% 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.