Alphabet (NASDAQ:GOOGL) Rating Reiterated by Needham & Company LLC

by · The Markets Daily

Alphabet (NASDAQ:GOOGL – Get Free Report)‘s stock had its “buy” rating reissued by equities research analysts at Needham & Company LLC in a research report issued on Tuesday, Benzinga reports. They currently have a $210.00 target price on the information services provider’s stock. Needham & Company LLC’s price target indicates a potential upside of 27.15% from the company’s current price.

Several other equities analysts have also commented on GOOGL. Evercore ISI decreased their target price on shares of Alphabet from $225.00 to $200.00 and set an “outperform” rating on the stock in a report on Monday, September 16th. BMO Capital Markets decreased their target price on shares of Alphabet from $222.00 to $215.00 and set an “outperform” rating on the stock in a report on Wednesday, October 9th. JPMorgan Chase & Co. raised their target price on shares of Alphabet from $200.00 to $208.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. Scotiabank raised shares of Alphabet to a “strong-buy” rating in a report on Friday, October 11th. Finally, Jefferies Financial Group lifted their price target on shares of Alphabet from $215.00 to $220.00 in a report on Tuesday, July 9th. Eight equities research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Alphabet has a consensus rating of “Moderate Buy” and a consensus target price of $201.76.

Get Our Latest Research Report on GOOGL

Alphabet Price Performance

Shares of Alphabet stock opened at $165.16 on Tuesday. Alphabet has a twelve month low of $120.21 and a twelve month high of $191.75. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04. The company has a 50-day simple moving average of $161.76 and a two-hundred day simple moving average of $168.05. The stock has a market capitalization of $2.04 trillion, a price-to-earnings ratio of 25.33, a price-to-earnings-growth ratio of 1.21 and a beta of 1.04.

Alphabet (NASDAQ:GOOGL – Get Free Report) last released its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 EPS 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 analyst estimates of $70.60 billion. During the same period last year, the firm earned $1.44 EPS. Analysts forecast that Alphabet will post 7.64 EPS for the current year.

Insider Transactions at Alphabet

In other news, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $168.00, for a total value of $114,576.00. Following the transaction, the chief accounting officer now owns 31,334 shares in the company, valued at approximately $5,264,112. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $162.35, for a total transaction of $3,652,875.00. Following the transaction, the chief executive officer now owns 2,182,385 shares in the company, valued at $354,310,204.75. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $168.00, for a total transaction of $114,576.00. Following the transaction, the chief accounting officer now owns 31,334 shares in the company, valued at $5,264,112. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, 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

A number of institutional investors have recently modified their holdings of GOOGL. SG Americas Securities LLC raised its holdings in Alphabet by 587.4% during the third quarter. SG Americas Securities LLC now owns 10,690,326 shares of the information services provider’s stock worth $1,772,991,000 after buying an additional 9,135,056 shares during the last quarter. Capital Research Global Investors raised its holdings in Alphabet by 14.4% during the first quarter. Capital Research Global Investors now owns 57,803,291 shares of the information services provider’s stock worth $8,724,251,000 after buying an additional 7,275,757 shares during the last quarter. Wulff Hansen & CO. raised its holdings in Alphabet by 18,810.2% during the second quarter. Wulff Hansen & CO. now owns 4,434,260 shares of the information services provider’s stock worth $807,700,000 after buying an additional 4,410,811 shares during the last quarter. PineStone Asset Management Inc. raised its holdings in Alphabet by 143.7% during the second quarter. PineStone Asset Management Inc. now owns 7,072,197 shares of the information services provider’s stock worth $1,288,201,000 after buying an additional 4,170,229 shares during the last quarter. Finally, Vanguard Group Inc. raised its holdings in Alphabet by 0.8% during the first quarter. Vanguard Group Inc. now owns 497,874,324 shares of the information services provider’s stock worth $75,144,172,000 after buying an additional 4,064,073 shares during the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Alphabet Company Profile

(Get Free Report)

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.

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