Arete Research Forecasts Strong Price Appreciation for Alphabet (NASDAQ:GOOGL) Stock

by · The Cerbat Gem

Alphabet (NASDAQ:GOOGL – Get Free Report) had its price target upped by equities researchers at Arete Research from $405.00 to $425.00 in a note issued to investors on Monday,MarketScreener reports. The firm presently has a “buy” rating on the information services provider’s stock. Arete Research’s price objective would indicate a potential upside of 5.12% from the company’s current price.

GOOGL has been the topic of several other research reports. Piper Sandler restated an “overweight” rating and set a $425.00 target price (up from $395.00) on shares of Alphabet in a report on Thursday, April 30th. Cantor Fitzgerald boosted their price objective on shares of Alphabet from $395.00 to $465.00 and gave the stock an “overweight” rating in a report on Thursday, April 30th. Wolfe Research cut their price objective on shares of Alphabet from $390.00 to $360.00 and set an “outperform” rating on the stock in a report on Friday, April 10th. Stifel Nicolaus set a $420.00 price objective on shares of Alphabet and gave the stock a “buy” rating in a report on Thursday, April 30th. Finally, Loop Capital boosted their price objective on shares of Alphabet from $355.00 to $490.00 and gave the stock a “buy” rating in a report on Friday. Two equities research analysts have rated the stock with a Strong Buy rating, forty-seven have given a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $411.23.

View Our Latest Stock Report on GOOGL

Alphabet Stock Up 1.9%

Shares of NASDAQ:GOOGL traded up $7.50 during midday trading on Monday, hitting $404.28. 10,523,120 shares of the company’s stock traded hands, compared to its average volume of 31,477,518. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.92 and a current ratio of 1.92. The company has a market cap of $4.90 trillion, a PE ratio of 30.79, a P/E/G ratio of 1.70 and a beta of 1.26. The firm’s fifty day moving average price is $329.30 and its two-hundred day moving average price is $317.61. Alphabet has a twelve month low of $162.00 and a twelve month high of $408.61.

Alphabet (NASDAQ:GOOGL – Get Free Report) last posted its earnings results on Wednesday, April 29th. The information services provider reported $5.11 earnings per share for the quarter, beating the consensus estimate of $2.64 by $2.47. The business had revenue of $109.90 billion for the quarter, compared to analyst estimates of $106.98 billion. Alphabet had a net margin of 37.92% and a return on equity of 38.99%. On average, equities research analysts anticipate that Alphabet will post 14.29 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CAO Amie Thuener O’toole sold 617 shares of the company’s stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $289.63, for a total value of $178,701.71. Following the sale, the chief accounting officer owned 10,093 shares in the company, valued at approximately $2,923,235.59. This represents a 5.76% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Sundar Pichai sold 32,500 shares of the company’s stock in a transaction dated Wednesday, March 18th. The shares were sold at an average price of $307.89, for a total transaction of $10,006,425.00. Following the completion of the sale, the chief executive officer owned 1,642,060 shares in the company, valued at approximately $505,573,853.40. This trade represents a 1.94% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 157,953 shares of company stock worth $47,767,818. Company insiders own 11.61% of the company’s stock.

Institutional Investors Weigh In On Alphabet

Institutional investors have recently modified their holdings of the stock. Lifetime Wealth Management P.C. acquired a new stake in Alphabet during the fourth quarter worth about $32,000. EMC Capital Management acquired a new stake in Alphabet during the fourth quarter worth about $33,000. PMV Capital Advisers LLC acquired a new stake in Alphabet during the fourth quarter worth about $38,000. IFC & Insurance Marketing Inc. acquired a new stake in Alphabet during the fourth quarter worth about $38,000. Finally, Bard Associates Inc. acquired a new stake in Alphabet during the fourth quarter worth about $52,000. Institutional investors and hedge funds own 40.03% of the company’s stock.

Alphabet News Roundup

Here are the key news stories impacting Alphabet this week:

About Alphabet

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Alphabet Inc is the holding company created in 2015 to organize Google and a portfolio of businesses developing technologies beyond Google’s core internet services. Its principal operations are led by Google, which builds and operates consumer-facing products such as Google Search, YouTube, Android, Chrome, Gmail, Google Maps and Google Workspace, as well as advertising platforms (Google Ads and AdSense) that historically generate the majority of its revenue. Google also develops consumer hardware (Pixel phones, Nest smart-home devices, Chromecast) and developer and distribution platforms such as Google Play.

Beyond Google’s consumer and advertising businesses, Alphabet invests in enterprise and infrastructure offerings through Google Cloud, which provides cloud computing, data analytics and productivity services to businesses and institutions.

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