Alphabet (NASDAQ:GOOGL) PT lowered to $150.00


Alphabet (NASDAQ:GOOGL – Get Note) had its target price reduced by Truist Financial from $175.00 to $150.00 in a report on Tuesday, reports The Fly.

Several other research analysts have also recently published reports on GOOGL. Wedbush lowered its price target on Alphabet shares from $190.00 to $155.65 in a Wednesday, April 27 research report. Wolfe Research lowered its price target on Alphabet shares from $175.00 to $145.00 and set an outperformance rating for the stock in a Wednesday, April 27 research report. Stifel Nicolaus set a target price of $155.00 on Alphabet shares in a report on Monday. MKM Partners lowered its target price on Alphabet shares from $165.00 to $140.00 and set a buy rating on the stock in a report on Monday. Finally, KeyCorp lowered its price target on Alphabet shares from $170.00 to $153.75 and set an overweight rating on the stock in a Wednesday, April 20 report. One analyst gave the stock a hold rating, thirty-four issued a buy rating and one gave the company’s stock a high buy rating. According to data from MarketBeat.com, Alphabet currently has a buy consensus rating and an average target price of $160.13.

Alphabet Price Performance

NASDAQ:GOOGL shares opened at $113.81 on Tuesday. The company’s fifty-day moving average price is $154.71 and its 200-day moving average price is $140.32. Alphabet has a 12-month low of $101.88 and a 12-month high of $151.55. The company has a debt ratio of 0.06, a current ratio of 2.87 and a quick ratio of 2.85. The company has a market capitalization of $74.94 billion, a P/E ratio of 1.03, a P/E/G ratio of 1.11 and a beta of 1.10.

Alphabet (NASDAQ:GOOGL – Get Rating) last released its quarterly earnings data on Tuesday, April 26. The information services provider reported earnings per share (EPS) of $1.23 for the quarter, missing the consensus estimate of $1.28 per ($0.05). Alphabet had a return on equity of 30.18% and a net margin of 27.57%. The company posted revenue of $56.02 billion for the quarter, versus $56.17 billion expected by analysts. In the same period a year earlier, the company posted earnings per share of $1.31. As a group, sell-side analysts expect Alphabet to post earnings per share of 109.34 for the current fiscal year.

Insider activity

Separately, SVP Prabhakar Raghavan sold 490 shares of the company in a deal that took place on Tuesday, May 3. The shares were sold at an average price of $2,335.30, for a total value of $1,144,297.00. Following the completion of the transaction, the senior vice president now owns 497 shares of the company, valued at $1,160,644.10. The transaction was disclosed in a document filed with the SEC, accessible via this link. Separately, SVP Prabhakar Raghavan sold 490 shares of the company in a deal that took place on Tuesday, May 3. The shares were sold at an average price of $2,335.30, for a total transaction of $1,144,297.00. Following the completion of the transaction, the senior vice president now owns 497 shares of the company, valued at $1,160,644.10. The sale was disclosed in a filing with the Securities & Exchange Commission, available on the SEC’s website. Additionally, major shareholder 2021 Gp LLC Gv purchased 255,647 shares of the company in a transaction that took place on Tuesday, May 10. The shares were purchased at an average cost of $34.65 per share, with a total value of $8,858,168.55. Following the transaction, the insider now directly owns 479,695 shares of the company, valued at approximately $16,621,431.75. Disclosure of this purchase can be found here. Insiders sold a total of 5,739 shares of the company worth $12,616,323 in the past 90 days. Insiders hold 11.44% of the company’s shares.

Hedge funds weigh on the alphabet

Several institutional investors and hedge funds have been buying and selling stocks recently. Amplius Wealth Advisors LLC acquired a new stake in Alphabet during the fourth quarter worth approximately $1,422,000. International Assets Investment Management LLC increased its stake in Alphabet by 6.1% during the fourth quarter. International Assets Investment Management LLC now owns 3,356 shares of the information services provider worth $9,717,000 after purchasing an additional 192 shares during the period. The David J Yvars group increased its stake in Alphabet shares by 20.2% in the fourth quarter. David J Yvars Group now owns 512 shares of the information services provider valued at $1,483,000 after purchasing an additional 86 shares during the period. Lincoln Capital Corp increased its stake in Alphabet shares by 2.3% in the fourth quarter. Lincoln Capital Corp now owns 1,673 shares of the information services provider valued at $4,847,000 after buying 38 additional shares during the period. Finally, DDD Partners LLC bought a new position in Alphabet stock in the fourth quarter worth $539,000. Institutional investors and hedge funds hold 41.70% of the company’s shares.

Alphabet Company Profile

(Get a rating)

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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