Stifel Nicolaus assumed coverage on shares of Alphabet (NASDAQ:GOOGL – Get Rating) in a research report sent to investors on Monday morning, The Fly reports. The brokerage issued a buy rating and a $130.00 price objective on the information services provider's stock.
A number of other equities research analysts have also recently weighed in on GOOGL. New Street Research began coverage on Alphabet in a research note on Wednesday, January 4th. They set a buy rating and a $118.00 price objective for the company. MKM Partners raised their target price on Alphabet from $120.00 to $126.00 in a research report on Friday, February 3rd. Credit Suisse Group cut their price target on Alphabet from $145.00 to $136.00 and set an outperform rating for the company in a report on Friday, February 3rd. Bank of America raised their target price on Alphabet from $116.00 to $119.00 and gave the stock a buy rating in a research note on Tuesday, January 31st. Finally, Truist Financial dropped their price objective on Alphabet from $130.00 to $120.00 and set a buy rating for the company in a research note on Friday, February 3rd. Four equities research analysts have rated the stock with a hold rating, thirty-four have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Alphabet presently has an average rating of Moderate Buy and a consensus price target of $131.83.
Alphabet Stock Up 2.2 %
GOOGL stock opened at $105.60 on Monday. Alphabet has a twelve month low of $83.34 and a twelve month high of $143.79. The company has a quick ratio of 2.34, a current ratio of 2.38 and a debt-to-equity ratio of 0.06. The stock has a market cap of $1.35 trillion, a P/E ratio of 23.21, a PEG ratio of 1.40 and a beta of 1.09. The business's 50-day moving average price is $96.20 and its 200-day moving average price is $96.13.
Alphabet (NASDAQ:GOOGL – Get Rating) last released its quarterly earnings data on Thursday, February 2nd. The information services provider reported $1.05 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.14 by ($0.09). The firm had revenue of $76.05 billion during the quarter, compared to the consensus estimate of $63.15 billion. Alphabet had a return on equity of 23.54% and a net margin of 21.20%. During the same period in the previous year, the firm earned $1.53 EPS. On average, equities research analysts forecast that Alphabet will post 5.12 EPS for the current year.
Insider Activity at Alphabet
In related news, major shareholder 2021 Gp L.L.C. Gv acquired 415,000 shares of the business's stock in a transaction on Monday, March 13th. The shares were bought at an average cost of $29.29 per share, with a total value of $12,155,350.00. Following the completion of the transaction, the insider now directly owns 1,709,527 shares of the company's stock, valued at approximately $50,072,045.83. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Alphabet news, major shareholder 2021 Gp L.L.C. Gv bought 415,000 shares of the company's stock in a transaction dated Monday, March 13th. The shares were acquired at an average cost of $29.29 per share, with a total value of $12,155,350.00. Following the completion of the transaction, the insider now owns 1,709,527 shares in the company, valued at $50,072,045.83. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Prabhakar Raghavan sold 22,203 shares of Alphabet stock in a transaction dated Tuesday, January 3rd. The stock was sold at an average price of $89.75, for a total value of $1,992,719.25. Following the sale, the senior vice president now directly owns 76,579 shares in the company, valued at $6,872,965.25. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 74,245 shares of company stock worth $7,174,078. 11.44% of the stock is owned by insiders.
Hedge Funds Weigh In On Alphabet
A number of hedge funds and other institutional investors have recently bought and sold shares of GOOGL. Bornite Capital Management LP acquired a new position in shares of Alphabet during the first quarter worth approximately $16,688,000. Markel Corp boosted its position in shares of Alphabet by 17.0% during the first quarter. Markel Corp now owns 15,500 shares of the information services provider's stock worth $43,110,000 after buying an additional 2,250 shares during the period. United Bank raised its holdings in Alphabet by 5.9% during the first quarter. United Bank now owns 2,033 shares of the information services provider's stock worth $5,654,000 after purchasing an additional 113 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in Alphabet by 23.4% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 323,918 shares of the information services provider's stock worth $900,929,000 after purchasing an additional 61,427 shares in the last quarter. Finally, Dakota Wealth Management raised its holdings in Alphabet by 20.4% during the first quarter. Dakota Wealth Management now owns 9,279 shares of the information services provider's stock worth $25,806,000 after purchasing an additional 1,570 shares in the last quarter. 34.06% of the stock is currently owned by institutional investors and hedge funds.
Alphabet, Inc engages in the business of delivering online advertising, cloud-based solutions that provide enterprise customers with infrastructure and platform services, the provision of communication and collaboration tools, and sales of other products and services such as apps and in-app purchases, hardware, and subscription-based products.
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