Alphabet (NASDAQ:GOOGL – Get Rating) had its target price trimmed by Truist Financial from $130.00 to $120.00 in a research note released on Friday morning, The Fly reports. The firm currently has a buy rating on the information services provider's stock.
Other research analysts have also issued research reports about the company. The Goldman Sachs Group cut their price objective on Alphabet to $135.00 in a report on Thursday, October 27th. Royal Bank of Canada cut their target price on Alphabet from $135.00 to $130.00 and set an outperform rating for the company in a research note on Wednesday, October 26th. MKM Partners increased their price objective on Alphabet from $120.00 to $126.00 in a research note on Friday. Bank of America upped their target price on Alphabet from $116.00 to $119.00 and gave the company a buy rating in a report on Tuesday. Finally, Tigress Financial decreased their target price on Alphabet from $186.00 to $160.00 and set a strong-buy rating for the company in a report on Friday, January 6th. Five research analysts have rated the stock with a hold rating, thirty-one have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus price target of $132.50.
Get Alphabet alerts:Alphabet Trading Down 2.7 %
Shares of GOOGL opened at $104.78 on Friday. The business's 50-day moving average price is $93.34 and its 200-day moving average price is $100.63. Alphabet has a twelve month low of $83.34 and a twelve month high of $144.88. The stock has a market cap of $1.36 trillion, a PE ratio of 23.02, a P/E/G ratio of 1.79 and a beta of 1.08. The company has a quick ratio of 2.47, a current ratio of 2.52 and a debt-to-equity ratio of 0.06.
Alphabet (NASDAQ:GOOGL – Get Rating) last announced its quarterly earnings results on Thursday, February 2nd. The information services provider reported $1.05 earnings per share for the quarter, missing the consensus estimate of $1.14 by ($0.09). Alphabet had a net margin of 21.20% and a return on equity of 23.58%. The company had revenue of $76.05 billion for the quarter, compared to the consensus estimate of $63.15 billion. During the same quarter in the prior year, the company earned $1.53 earnings per share. On average, equities analysts forecast that Alphabet will post 5.05 EPS for the current fiscal year.Insider Activity at Alphabet
In other news, major shareholder 2021 Gp L.L.C. Gv acquired 201,897 shares of Alphabet stock in a transaction on Monday, November 7th. The shares were acquired at an average price of $35.16 per share, with a total value of $7,098,698.52. Following the purchase, the insider now directly owns 1,072,792 shares in the company, valued at approximately $37,719,366.72. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, major shareholder 2021 Gp L.L.C. Gv acquired 201,897 shares of Alphabet stock in a transaction on Monday, November 7th. The shares were acquired at an average price of $35.16 per share, with a total value of $7,098,698.52. Following the purchase, the insider now directly owns 1,072,792 shares in the company, valued at approximately $37,719,366.72. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Ann Mather sold 360 shares of Alphabet stock in a transaction that occurred on Friday, November 25th. The stock was sold at an average price of $98.48, for a total value of $35,452.80. Following the completion of the sale, the director now directly owns 11,300 shares in the company, valued at approximately $1,112,824. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 36,943 shares of company stock valued at $3,454,353. 11.44% of the stock is owned by company insiders.
Institutional Trading of Alphabet
A number of large investors have recently added to or reduced their stakes in the company. Willow Creek Wealth Management Inc. boosted its holdings in shares of Alphabet by 1,926.9% in the 3rd quarter. Willow Creek Wealth Management Inc. now owns 18,546 shares of the information services provider's stock worth $1,774,000 after purchasing an additional 17,631 shares during the period. Louisiana State Employees Retirement System purchased a new position in shares of Alphabet in the 3rd quarter worth approximately $55,305,000. Griffin Asset Management Inc. boosted its holdings in shares of Alphabet by 1,900.0% in the 3rd quarter. Griffin Asset Management Inc. now owns 52,240 shares of the information services provider's stock worth $4,997,000 after purchasing an additional 49,628 shares during the period. Bridgewater Advisors Inc. boosted its holdings in shares of Alphabet by 3,005.0% in the 3rd quarter. Bridgewater Advisors Inc. now owns 67,503 shares of the information services provider's stock worth $6,457,000 after purchasing an additional 65,329 shares during the period. Finally, Wilkinson Global Asset Management LLC boosted its holdings in Alphabet by 1,900.0% during the 3rd quarter. Wilkinson Global Asset Management LLC now owns 6,460 shares of the information services provider's stock valued at $618,000 after acquiring an additional 6,137 shares during the period. Institutional investors own 34.06% of the company's stock.
About Alphabet
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Alphabet, Inc is a holding company, which engages in the business of acquisition and operation of different companies. It operates through the Google and Other Bets segments. The Google segment includes its main Internet products such as ads, Android, Chrome, hardware, Google Cloud, Google Maps, Google Play, Search, and YouTube.
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