Alphabet (NASDAQ:GOOGL) Given Neutral Rating at Rosenblatt Securities

Alphabet (NASDAQ:GOOGL)‘s stock had its “neutral” rating reissued by equities researchers at Rosenblatt Securities in a report released on Wednesday, Benzinga reports. They currently have a $181.00 price target on the information services provider’s stock. Rosenblatt Securities’ target price points to a potential upside of 8.20% from the company’s previous close.

Several other equities analysts also recently issued reports on GOOGL. Argus upped their price objective on shares of Alphabet from $200.00 to $215.00 and gave the company a “buy” rating in a report on Tuesday, July 16th. TD Cowen upped their price target on shares of Alphabet from $170.00 to $200.00 and gave the company a “buy” rating in a research note on Friday, April 26th. JPMorgan Chase & Co. lifted their price objective on shares of Alphabet from $165.00 to $200.00 and gave the stock an “overweight” rating in a research note on Friday, April 26th. Piper Sandler upped their target price on Alphabet from $200.00 to $206.00 and gave the company an “overweight” rating in a research report on Wednesday. Finally, Robert W. Baird lifted their price target on Alphabet from $160.00 to $200.00 and gave the stock an “outperform” rating in a research report on Friday, April 26th. Six investment analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Alphabet presently has a consensus rating of “Moderate Buy” and a consensus price target of $203.74.

Alphabet Trading Down 3.1 %

NASDAQ:GOOGL opened at $167.28 on Wednesday. The firm has a 50 day moving average of $179.22 and a 200 day moving average of $160.15. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.05. Alphabet has a 52 week low of $120.21 and a 52 week high of $191.75. The stock has a market capitalization of $2.07 trillion, a price-to-earnings ratio of 25.66, a PEG ratio of 1.36 and a beta of 1.05.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, topping analysts’ consensus estimates of $1.85 by $0.04. Alphabet had a return on equity of 30.96% and a net margin of 26.70%. The firm had revenue of $84.74 billion during the quarter, compared to analysts’ expectations of $70.60 billion. During the same quarter last year, the firm earned $1.44 EPS. As a group, sell-side analysts anticipate that Alphabet will post 7.62 earnings per share for the current fiscal year.

Insider Buying and Selling at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $166.67, for a total transaction of $113,668.94. Following the sale, the chief accounting officer now owns 29,284 shares of the company’s stock, valued at approximately $4,880,764.28. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $182.84, for a total value of $4,113,900.00. Following the completion of the sale, the chief executive officer now owns 2,204,885 shares of the company’s stock, valued at $403,141,173.40. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $166.67, for a total value of $113,668.94. Following the transaction, the chief accounting officer now directly owns 29,284 shares in the company, valued at approximately $4,880,764.28. The disclosure for this sale can be found here. Insiders sold 122,388 shares of company stock valued at $21,497,609 over the last quarter. 11.55% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Etesian Wealth Advisors Inc. boosted its stake in Alphabet by 1.2% during the fourth quarter. Etesian Wealth Advisors Inc. now owns 7,823 shares of the information services provider’s stock worth $1,097,000 after buying an additional 96 shares during the period. Raymond James & Associates increased its holdings in Alphabet by 1.5% in the 4th quarter. Raymond James & Associates now owns 8,990,264 shares of the information services provider’s stock valued at $1,255,850,000 after purchasing an additional 136,951 shares during the last quarter. Pachira Investments Inc. raised its position in Alphabet by 27.5% in the fourth quarter. Pachira Investments Inc. now owns 3,984 shares of the information services provider’s stock valued at $557,000 after purchasing an additional 860 shares during the period. Raymond James Financial Services Advisors Inc. lifted its stake in Alphabet by 2.2% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 3,539,314 shares of the information services provider’s stock worth $494,407,000 after purchasing an additional 76,328 shares in the last quarter. Finally, Horizon Bancorp Inc. IN boosted its position in shares of Alphabet by 3.8% during the fourth quarter. Horizon Bancorp Inc. IN now owns 2,106 shares of the information services provider’s stock worth $294,000 after buying an additional 78 shares during the period. Institutional investors and hedge funds 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.