Alphabet (NASDAQ:GOOGL) Given New $200.00 Price Target at DA Davidson

Alphabet (NASDAQ:GOOGL) had its price objective lifted by research analysts at DA Davidson from $190.00 to $200.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has a “neutral” rating on the information services provider’s stock. DA Davidson’s target price points to a potential upside of 0.05% from the company’s current price.

GOOGL has been the subject of a number of other reports. Loop Capital upped their price target on Alphabet from $170.00 to $185.00 and gave the company a “hold” rating in a report on Wednesday, November 6th. Scotiabank raised shares of Alphabet to a “strong-buy” rating in a research report on Friday, October 11th. Wedbush lifted their price target on shares of Alphabet from $210.00 to $220.00 and gave the stock an “outperform” rating in a research note on Monday, January 6th. Piper Sandler reaffirmed an “overweight” rating and set a $210.00 price objective (up previously from $200.00) on shares of Alphabet in a report on Wednesday, October 30th. Finally, Roth Mkm lifted their target price on Alphabet from $206.00 to $212.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Nine analysts have rated the stock with a hold rating, thirty have given a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $209.44.

Alphabet Stock Up 1.0 %

Shares of GOOGL opened at $199.90 on Friday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95. The stock has a market capitalization of $2.45 trillion, a PE ratio of 26.50, a P/E/G ratio of 1.27 and a beta of 0.98. The company’s 50-day simple moving average is $185.46 and its 200-day simple moving average is $173.55. Alphabet has a 1 year low of $130.66 and a 1 year high of $202.29.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, topping the consensus estimate of $1.83 by $0.29. The firm had revenue of $88.27 billion during the quarter, compared to analysts’ expectations of $72.85 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. During the same period in the previous year, the firm posted $1.55 EPS. Analysts forecast that Alphabet will post 8.02 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CAO Amie Thuener O’toole sold 1,367 shares of Alphabet stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $170.41, for a total transaction of $232,950.47. Following the completion of the sale, the chief accounting officer now owns 23,515 shares in the company, valued at approximately $4,007,191.15. This trade represents a 5.49 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director John L. Hennessy sold 1,500 shares of the company’s stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $189.80, for a total transaction of $284,700.00. Following the completion of the transaction, the director now owns 21,824 shares in the company, valued at approximately $4,142,195.20. This trade represents a 6.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 133,387 shares of company stock worth $24,368,654. Insiders own 11.55% of the company’s stock.

Institutional Trading of Alphabet

Hedge funds have recently added to or reduced their stakes in the business. Independence Bank of Kentucky grew its stake in shares of Alphabet by 7.6% during the 4th quarter. Independence Bank of Kentucky now owns 84,534 shares of the information services provider’s stock valued at $16,002,000 after buying an additional 5,951 shares during the period. OFC Financial Planning LLC purchased a new stake in Alphabet during the fourth quarter valued at about $345,000. Alpha Omega Wealth Management LLC increased its stake in Alphabet by 0.4% during the fourth quarter. Alpha Omega Wealth Management LLC now owns 19,872 shares of the information services provider’s stock worth $3,762,000 after acquiring an additional 83 shares during the last quarter. SeaBridge Investment Advisors LLC raised its holdings in shares of Alphabet by 8.9% in the 4th quarter. SeaBridge Investment Advisors LLC now owns 61,356 shares of the information services provider’s stock worth $11,615,000 after purchasing an additional 5,001 shares during the period. Finally, Blossom Wealth Management lifted its stake in shares of Alphabet by 6.7% in the 4th quarter. Blossom Wealth Management now owns 3,056 shares of the information services provider’s stock valued at $579,000 after purchasing an additional 191 shares in the last quarter. 40.03% of the stock is 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.