Alphabet (NASDAQ:GOOGL) Price Target Raised to $215.00 at KeyCorp

Alphabet (NASDAQ:GOOGL) had its price objective hoisted by stock analysts at KeyCorp from $200.00 to $215.00 in a report issued on Wednesday, Benzinga reports. The brokerage presently has an “overweight” rating on the information services provider’s stock. KeyCorp’s target price would indicate a potential upside of 20.13% from the stock’s previous close.

A number of other research firms have also issued reports on GOOGL. Needham & Company LLC reissued a “buy” rating and set a $210.00 target price on shares of Alphabet in a research note on Wednesday. Mizuho boosted their price objective on Alphabet from $205.00 to $210.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th. Citigroup raised their target price on Alphabet from $190.00 to $212.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Guggenheim lifted their target price on Alphabet from $195.00 to $205.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Finally, Rosenblatt Securities reissued a “neutral” rating and issued a $181.00 price target on shares of Alphabet in a research note on Wednesday, July 24th. Seven research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $204.18.

Alphabet Stock Performance

Shares of NASDAQ GOOGL traded up $9.30 during mid-day trading on Wednesday, hitting $178.98. The company had a trading volume of 42,083,871 shares, compared to its average volume of 27,013,408. Alphabet has a 12 month low of $122.68 and a 12 month high of $191.75. The stock has a market cap of $2.21 trillion, a price-to-earnings ratio of 27.40, a PEG ratio of 1.27 and a beta of 1.04. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08 and a quick ratio of 2.08. The firm’s 50 day simple moving average is $162.00 and its two-hundred day simple moving average is $168.74.

Alphabet (NASDAQ:GOOGL) last issued its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, topping the consensus estimate of $1.83 by $0.29. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The firm had revenue of $88.27 billion for the quarter, compared to analyst estimates of $72.85 billion. During the same period last year, the company earned $1.55 earnings per share. As a group, equities research analysts forecast that Alphabet will post 7.65 earnings per share for the current year.

Insider Transactions at Alphabet

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 value of $230,804.28. Following the sale, the chief accounting officer now owns 29,183 shares of the company’s stock, valued at $4,927,257.72. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CAO Amie Thuener O’toole sold 1,367 shares of the company’s stock in a transaction dated Tuesday, October 1st. The stock was 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. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider John Kent Walker sold 21,467 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $160.35, for a total value of $3,442,233.45. Following the transaction, the insider now directly owns 39,334 shares in the company, valued at $6,307,206.90. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 220,426 shares of company stock worth $35,993,340. 11.55% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of GOOGL. International Assets Investment Management LLC raised its holdings in shares of Alphabet by 43,005.6% in the 3rd quarter. International Assets Investment Management LLC now owns 18,743,594 shares of the information services provider’s stock valued at $31,086,250,000 after purchasing an additional 18,700,111 shares during the period. SG Americas Securities LLC raised its stake in Alphabet by 587.4% in the third quarter. SG Americas Securities LLC now owns 10,690,326 shares of the information services provider’s stock valued at $1,772,991,000 after buying an additional 9,135,056 shares during the period. Capital Research Global Investors raised its stake in Alphabet by 14.4% in the first quarter. Capital Research Global Investors now owns 57,803,291 shares of the information services provider’s stock valued at $8,724,251,000 after buying an additional 7,275,757 shares during the period. Assenagon Asset Management S.A. lifted its position in shares of Alphabet by 116.4% in the third quarter. Assenagon Asset Management S.A. now owns 8,670,225 shares of the information services provider’s stock valued at $1,437,957,000 after buying an additional 4,662,809 shares during the last quarter. Finally, Wulff Hansen & CO. lifted its holdings in Alphabet by 18,810.2% during the 2nd quarter. Wulff Hansen & CO. now owns 4,434,260 shares of the information services provider’s stock valued at $807,700,000 after purchasing an additional 4,410,811 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.