Alphabet (NASDAQ:GOOGL) Stock Rating Reaffirmed by Piper Sandler

Alphabet (NASDAQ:GOOGL)‘s stock had its “overweight” rating reaffirmed by stock analysts at Piper Sandler in a report issued on Monday, Benzinga reports. They presently have a $200.00 price target on the information services provider’s stock. Piper Sandler’s target price would indicate a potential upside of 19.77% from the company’s current price.

Several other equities analysts also recently commented on GOOGL. Needham & Company LLC restated a “buy” rating and issued a $210.00 price target on shares of Alphabet in a research note on Friday, August 30th. UBS Group raised their price objective on Alphabet from $200.00 to $204.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 24th. Roth Mkm reaffirmed a “buy” rating and issued a $206.00 price objective on shares of Alphabet in a report on Thursday, August 29th. Jefferies Financial Group increased their target price on Alphabet from $215.00 to $220.00 in a report on Tuesday, July 9th. Finally, Rosenblatt Securities reaffirmed a “neutral” rating and set a $181.00 price objective on shares of Alphabet in a research report on Wednesday, July 24th. Eight analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $201.35.

Alphabet Stock Up 0.7 %

GOOGL stock opened at $166.99 on Monday. Alphabet has a 1-year low of $120.21 and a 1-year high of $191.75. The business’s 50 day simple moving average is $162.22 and its 200 day simple moving average is $167.02. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.04. The firm has a market capitalization of $2.06 trillion, a PE ratio of 25.61, a PEG ratio of 1.21 and a beta of 1.04.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.85 by $0.04. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The firm had revenue of $84.74 billion for the quarter, compared to analysts’ expectations of $70.60 billion. During the same period in the prior year, the firm earned $1.44 EPS. As a group, research analysts anticipate that Alphabet will post 7.63 EPS for the current year.

Insider Activity at Alphabet

In related news, Director John L. Hennessy sold 1,500 shares of the company’s stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $185.85, for a total transaction of $278,775.00. Following the transaction, the director now directly owns 30,824 shares of the company’s stock, valued at approximately $5,728,640.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, Director John L. Hennessy sold 1,500 shares of Alphabet stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $185.85, for a total transaction of $278,775.00. Following the completion of the transaction, the director now directly owns 30,824 shares in the company, valued at $5,728,640.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction dated Wednesday, July 17th. The stock was sold at an average price of $182.84, for a total transaction of $4,113,900.00. Following the completion of the sale, the chief executive officer now owns 2,204,885 shares in the company, valued at approximately $403,141,173.40. The disclosure for this sale can be found here. Insiders have sold 193,725 shares of company stock worth $31,933,031 in the last quarter. Company insiders own 11.55% of the company’s stock.

Hedge Funds Weigh In On Alphabet

Several large investors have recently bought and sold shares of GOOGL. Christopher J. Hasenberg Inc increased its position in shares of Alphabet by 75.0% during the 2nd quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock valued at $26,000 after purchasing an additional 60 shares during the last quarter. Vermillion & White Wealth Management Group LLC bought a new stake in Alphabet in the fourth quarter worth about $30,000. Tributary Capital Management LLC bought a new stake in Alphabet in the first quarter worth about $30,000. Kings Path Partners LLC purchased a new position in Alphabet in the second quarter valued at about $36,000. Finally, Denver PWM LLC bought a new position in shares of Alphabet during the 2nd quarter valued at approximately $41,000. 40.03% of the stock is currently owned by institutional investors.

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.