Moffett Nathanson cuts Alphabet (NASDAQ:GOOGL) price target to $2,650.00
Alphabet (NASDAQ:GOOGL – Get Note) had its price target lowered by Moffett Nathanson research analysts to $2,650.00 in a research report released Thursday to clients and investors, Stock Target Advisor reports. Moffett Nathanson’s target price would suggest a potential upside of 23.13% from the current stock price.
A number of other stock analysts also commented on GOOGL. Susquehanna Bancshares raised its price target on Alphabet shares from $3,600.00 to $3,750.00 and gave the company a “positive” rating in a Wednesday, Feb. 2 research report. Guggenheim lowered its price target on Alphabet from $3,350.00 to $3,000.00 in a Wednesday, April 27 research report. Sanford C. Bernstein raised its price target on Alphabet from $3,250.00 to $3,500.00 and gave the company an “outperform” rating in a Wednesday, Feb. 2 research report. Barclays cut its price target on Alphabet shares from $3,300.00 to $3,200.00 and set an “overweight” rating on the stock in a Wednesday April 27 research note. Finally, MKM Partners lowered its price target on Alphabet shares from $3,375.00 to $3,300.00 and set a “buy” rating for the company in a Thursday, April 14 research report. . Two investment analysts gave the stock a hold rating, thirty-five gave the stock a buy rating and one gave the stock a high buy rating. Based on data from MarketBeat.com, Alphabet has an average rating of “Buy” and an average price target of $3,312.41.
NASDAQ GOOGL traded at $36.15 during midday trading on Thursday, hitting $2,152.25. The stock recorded a trading volume of 61,485 shares, compared to an average volume of 1,955,168 shares. The company has a quick ratio of 2.85, a current ratio of 2.87 and a leverage ratio of 0.06. Alphabet has a 52-week low of $2,037.69 and a 52-week high of $3,030.93. The company has a 50-day simple moving average of $2,506.43 and a 200-day simple moving average of $2,693.65. The company has a market capitalization of $1.42 trillion, a price/earnings ratio of 19.49, a P/E/G ratio of 1.03 and a beta of 1.13.
Alphabet shares are set to split on the morning of Monday, July 18. The 20-1 split was announced on Tuesday, February 1. The newly created shares will be payable to shareholders after the closing bell on Friday July 15.
Alphabet (NASDAQ:GOOGL – Get Rating) last announced its quarterly results on Tuesday, April 26. The information services provider reported earnings per share (EPS) of $24.62 for the quarter, missing analyst consensus estimates of $25.51 per ($0.89). Alphabet had a return on equity of 30.18% and a net margin of 27.57%. During the same period last year, the company posted EPS of $26.29. As a group, stock analysts expect Alphabet to post earnings per share of 112.62 for the current fiscal year.
Separately, major shareholder 2016 Gp LLC Gv sold 544,249 shares in a transaction on Monday, April 11. The stock was sold at an average price of $11.16, for a total value of $6,073,818.84. The sale was disclosed in a legal filing with the SEC, accessible via this link. Additionally, SVP Prabhakar Raghavan sold 490 shares of the company in a trade dated Tuesday, May 3. The stock was sold at an average price of $2,335.30, for a total transaction of $1,144,297.00. Following the sale, the senior vice president now directly owns 497 shares of the company, valued at $1,160,644.10. The disclosure of this sale can be found here. During the last quarter, insiders sold 550,261 shares of the company valued at $21,637,779. 13.20% of the shares are currently held by company insiders.
Institutional investors have recently changed their positions in the company. Wagner Wealth Management LLC increased its holdings of Alphabet shares by 4.5% during the third quarter. Wagner Wealth Management LLC now owns 92 shares of the information services provider worth $272,000 after buying 4 additional shares in the last quarter. Boltwood Capital Management increased its position in Alphabet by 0.3% during the fourth quarter. Boltwood Capital Management now owns 1,333 shares of the information services provider valued at $3,862,000 after buying 4 additional shares in the last quarter. Latitude Advisors LLC increased its stake in Alphabet by 0.4% in the fourth quarter. Latitude Advisors LLC now owns 1,108 shares of the information services provider worth $3,210,000 after buying 4 more shares in the last quarter. Brave Asset Management Inc. increased its stake in Alphabet by 0.6% in Q4. Brave Asset Management Inc. now owns 628 shares of the information services provider worth $1,819,000 after buying 4 more shares last quarter. Finally, Smithbridge Asset Management Inc. DE increased its stake in Alphabet shares by 1.5% in the 4th quarter. Smithbridge Asset Management Inc. DE now owns 263 shares of the information services provider worth $762,000 after buying 4 more shares in the last quarter. 41.70% of the shares are held by hedge funds and other institutional investors.
About the alphabet (Get an evaluation)
Alphabet Inc provides various products and platforms in the United States, Europe, the Middle East, Africa, Asia-Pacific, Canada and Latin America. It operates through Google Services, Google Cloud and Other Bets segments. The Google Services segment offers products and services, including Ads, Android, Chrome, Hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search and YouTube.
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