Susquehanna Issues Positive Forecast for Alphabet (NASDAQ:GOOGL) Stock Price

Alphabet (NASDAQ:GOOGL) had its price target increased by Susquehanna from $225.00 to $350.00 in a report published on Thursday, Marketbeat reports. The firm currently has a positive rating on the information services provider’s stock.

A number of other analysts also recently weighed in on the company. Canaccord Genuity Group increased their price objective on Alphabet from $230.00 to $270.00 and gave the company a “buy” rating in a report on Thursday, September 4th. Moffett Nathanson increased their price objective on Alphabet from $230.00 to $295.00 and gave the company a “buy” rating in a report on Thursday, September 25th. Mizuho set a $325.00 price objective on Alphabet in a report on Thursday. Weiss Ratings restated a “buy (b)” rating on shares of Alphabet in a report on Wednesday, October 8th. Finally, Sanford C. Bernstein increased their price objective on Alphabet from $210.00 to $260.00 and gave the company a “market perform” rating in a report on Wednesday, October 22nd. Three research analysts have rated the stock with a Strong Buy rating, thirty-three have assigned a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $301.32.

Alphabet Stock Up 2.5%

Shares of GOOGL opened at $281.48 on Thursday. Alphabet has a 52 week low of $140.53 and a 52 week high of $291.59. The stock has a market capitalization of $3.40 trillion, a price-to-earnings ratio of 27.76, a PEG ratio of 1.86 and a beta of 1.00. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. The stock has a fifty day moving average of $242.49 and a 200-day moving average of $198.83.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data on Wednesday, October 29th. The information services provider reported $2.87 earnings per share for the quarter, beating analysts’ consensus estimates of $2.29 by $0.58. The business had revenue of $102.35 billion during the quarter, compared to the consensus estimate of $99.90 billion. Alphabet had a return on equity of 36.08% and a net margin of 32.23%. As a group, sell-side analysts anticipate that Alphabet will post 8.9 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction dated Wednesday, October 15th. The stock was sold at an average price of $250.15, for a total value of $8,129,875.00. Following the completion of the sale, the chief executive officer directly owned 2,369,619 shares in the company, valued at $592,760,192.85. This trade represents a 1.35% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director John L. Hennessy sold 600 shares of the firm’s stock in a transaction dated Monday, October 13th. The shares were sold at an average price of $242.92, for a total value of $145,752.00. Following the completion of the sale, the director owned 5,116 shares of the company’s stock, valued at approximately $1,242,778.72. This represents a 10.50% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 246,150 shares of company stock worth $55,805,379 over the last 90 days. 11.64% of the stock is owned by company insiders.

Institutional Trading of Alphabet

Large investors have recently made changes to their positions in the company. Guardian Wealth Management Inc. grew its stake in shares of Alphabet by 242.9% in the 1st quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider’s stock valued at $26,000 after buying an additional 119 shares during the period. von Borstel & Associates Inc. acquired a new position in Alphabet during the 1st quarter valued at about $28,000. IMA Advisory Services Inc. acquired a new position in Alphabet during the 1st quarter valued at about $28,000. NBZ Investment Advisors LLC boosted its stake in Alphabet by 85.7% during the 1st quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider’s stock valued at $30,000 after purchasing an additional 90 shares during the last quarter. Finally, Financial Gravity Companies Inc. acquired a new position in Alphabet during the 2nd quarter valued at about $31,000. 40.03% of the stock is currently owned by institutional investors and hedge funds.

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.