Alphabet (NASDAQ:GOOGL) Given New $205.00 Price Target at Evercore ISI

Alphabet (NASDAQ:GOOGL) had its price objective upped by Evercore ISI from $200.00 to $205.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm presently has an “outperform” rating on the information services provider’s stock. Evercore ISI’s target price indicates a potential upside of 14.23% from the stock’s current price.

A number of other research analysts have also weighed in on GOOGL. Wells Fargo & Company lifted their price target on shares of Alphabet from $182.00 to $187.00 and gave the company an “equal weight” rating in a research note on Wednesday. Guggenheim upped their target price on shares of Alphabet from $195.00 to $205.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Bank of America lifted their price target on Alphabet from $206.00 to $210.00 and gave the company a “buy” rating in a research note on Wednesday. Rosenblatt Securities reaffirmed a “neutral” rating and set a $181.00 price objective on shares of Alphabet in a research report on Wednesday, July 24th. Finally, UBS Group lifted their target price on Alphabet from $200.00 to $204.00 and gave the company a “neutral” rating in a research report on Wednesday, July 24th. Seven equities research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $202.87.

Alphabet Trading Up 5.8 %

Shares of Alphabet stock traded up $9.79 during trading on Wednesday, hitting $179.47. 36,291,391 shares of the company were exchanged, compared to its average volume of 26,978,537. The firm has a market capitalization of $2.22 trillion, a P/E ratio of 27.44, a price-to-earnings-growth ratio of 1.27 and a beta of 1.04. The firm’s fifty day moving average price is $162.00 and its 200 day moving average price is $168.74. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08 and a quick ratio of 2.08. Alphabet has a 1-year low of $122.68 and a 1-year high of $191.75.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. The firm had revenue of $88.27 billion during the quarter, compared to analysts’ expectations of $72.85 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. During the same quarter in the previous year, the company earned $1.55 earnings per share. As a group, sell-side analysts expect that Alphabet will post 7.65 earnings per share for the current fiscal year.

Insider Activity at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $166.30, for a total value of $3,741,750.00. Following the completion of the sale, the chief executive officer now owns 2,106,806 shares in the company, valued at $350,361,837.80. 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 available through the SEC website. In related news, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $168.00, for a total value of $114,576.00. Following the completion of the transaction, the chief accounting officer now owns 31,334 shares of the company’s stock, valued at $5,264,112. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $166.30, for a total transaction of $3,741,750.00. Following the sale, the chief executive officer now owns 2,106,806 shares in the company, valued at $350,361,837.80. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 220,426 shares of company stock worth $35,993,340. Corporate insiders own 11.55% of the company’s stock.

Institutional Trading of Alphabet

Several institutional investors and hedge funds have recently modified their holdings of the business. Christopher J. Hasenberg Inc boosted its holdings in shares of Alphabet by 75.0% during the 2nd quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock valued at $26,000 after acquiring an additional 60 shares in the last quarter. Kings Path Partners LLC acquired a new stake in shares of Alphabet during the second quarter valued at about $36,000. Tributary Capital Management LLC bought a new stake in shares of Alphabet during the first quarter worth about $30,000. Denver PWM LLC acquired a new position in shares of Alphabet in the second quarter valued at approximately $41,000. Finally, Quarry LP bought a new position in Alphabet in the 2nd quarter valued at approximately $53,000. 40.03% of the stock is currently owned by institutional investors.

About Alphabet

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.