Alphabet (NASDAQ:GOOGL) Trading Up 0.7% – Still a Buy?

Alphabet Inc. (NASDAQ:GOOGL)’s stock price traded up 0.7% during mid-day trading on Tuesday . The company traded as high as $165.77 and last traded at $165.19. 4,953,022 shares traded hands during mid-day trading, a decline of 82% from the average session volume of 26,880,938 shares. The stock had previously closed at $164.07.

Analysts Set New Price Targets

A number of research firms have weighed in on GOOGL. Scotiabank upgraded shares of Alphabet to a “strong-buy” rating in a research note on Friday, October 11th. Tigress Financial upped their price objective on Alphabet from $210.00 to $220.00 and gave the company a “strong-buy” rating in a research note on Thursday, September 26th. Citigroup raised their target price on Alphabet from $190.00 to $212.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. TD Securities upped their price target on Alphabet from $200.00 to $220.00 in a research report on Wednesday, July 10th. Finally, Piper Sandler reissued an “overweight” rating and issued a $200.00 price objective on shares of Alphabet in a report on Monday, September 30th. Eight equities research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $201.76.

Alphabet Stock Down 1.4 %

The firm has a market cap of $2.01 trillion, a PE ratio of 24.97, a PEG ratio of 1.21 and a beta of 1.04. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 2.08. The company’s 50-day simple moving average is $161.87 and its two-hundred day simple moving average is $168.40.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 EPS for the quarter, beating analysts’ consensus estimates of $1.85 by $0.04. The business had revenue of $84.74 billion during the quarter, compared to analyst estimates of $70.60 billion. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. During the same quarter in the prior year, the company posted $1.44 EPS. On average, analysts predict that Alphabet Inc. will post 7.64 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CAO Amie Thuener O’toole sold 1,367 shares of the business’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $168.84, for a total transaction of $230,804.28. Following the sale, the chief accounting officer now owns 29,183 shares in the company, valued at approximately $4,927,257.72. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, CAO Amie Thuener O’toole sold 1,367 shares of Alphabet stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $168.84, for a total transaction of $230,804.28. Following the completion of the transaction, the chief accounting officer now directly owns 29,183 shares in the company, valued at approximately $4,927,257.72. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Prabhakar Raghavan sold 34,257 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $162.60, for a total value of $5,570,188.20. Following the completion of the sale, the senior vice president now owns 312,210 shares in the company, valued at $50,765,346. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 220,426 shares of company stock worth $35,993,340. Company insiders own 11.55% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Alphabet by 10.1% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,705,961 shares of the information services provider’s stock worth $607,601,000 after purchasing an additional 340,337 shares in the last quarter. Parcion Private Wealth LLC lifted its holdings in shares of Alphabet by 5.5% during the third quarter. Parcion Private Wealth LLC now owns 24,112 shares of the information services provider’s stock valued at $3,999,000 after purchasing an additional 1,267 shares in the last quarter. Lyell Wealth Management LP boosted its position in shares of Alphabet by 1.2% during the third quarter. Lyell Wealth Management LP now owns 140,285 shares of the information services provider’s stock valued at $23,266,000 after buying an additional 1,612 shares during the last quarter. Mayfair Advisory Group LLC increased its holdings in Alphabet by 11.4% in the 3rd quarter. Mayfair Advisory Group LLC now owns 2,843 shares of the information services provider’s stock worth $475,000 after buying an additional 290 shares in the last quarter. Finally, Convergence Financial LLC raised its position in Alphabet by 3.9% in the 3rd quarter. Convergence Financial LLC now owns 26,664 shares of the information services provider’s stock worth $4,422,000 after buying an additional 1,000 shares during the last quarter. Institutional investors own 40.03% of the company’s stock.

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.