Alphabet’s (GOOGL) Neutral Rating Reaffirmed at Cantor Fitzgerald

Cantor Fitzgerald reiterated their neutral rating on shares of Alphabet (NASDAQ:GOOGL) in a report issued on Wednesday, Benzinga reports. The firm currently has a $190.00 price objective on the information services provider’s stock.

Several other analysts have also recently commented on the stock. Argus lifted their price objective on shares of Alphabet from $200.00 to $215.00 and gave the company a “buy” rating in a research note on Tuesday, July 16th. Pivotal Research raised shares of Alphabet to a “strong-buy” rating in a report on Tuesday, October 1st. UBS Group boosted their price objective on Alphabet from $200.00 to $204.00 and gave the company a “neutral” rating in a report on Wednesday, July 24th. Royal Bank of Canada upped their target price on Alphabet from $204.00 to $210.00 and gave the stock an “outperform” rating in a research note on Wednesday. Finally, Roth Mkm reiterated a “buy” rating and set a $206.00 price target on shares of Alphabet in a research report on Thursday, August 29th. Seven equities research analysts have rated the stock with a hold rating, thirty have given a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $205.51.

Alphabet Price Performance

Shares of GOOGL opened at $174.46 on Wednesday. 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 company’s fifty day moving average price is $162.17 and its 200-day moving average price is $168.78. Alphabet has a 1-year low of $122.68 and a 1-year high of $191.75. The firm has a market capitalization of $2.16 trillion, a PE ratio of 26.76, a price-to-earnings-growth ratio of 1.27 and a beta of 1.04.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, beating 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 business had revenue of $88.27 billion for the quarter, compared to the consensus estimate of $72.85 billion. During the same quarter in the previous year, the business earned $1.55 EPS. On average, equities research analysts predict that Alphabet will post 7.65 EPS for the current year.

Insider Activity

In related news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $168.00, for a total transaction of $114,576.00. Following the completion of the sale, the chief accounting officer now directly owns 31,334 shares in the company, valued at approximately $5,264,112. This trade represents 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 accessible through this link. In related news, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction that occurred on 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 directly owns 31,334 shares in the company, valued at approximately $5,264,112. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director John L. Hennessy sold 700 shares of the firm’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $165.00, for a total value of $115,500.00. Following the sale, the director now directly owns 29,324 shares of the company’s stock, valued at approximately $4,838,460. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 220,426 shares of company stock valued at $35,993,340. 11.55% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Christopher J. Hasenberg Inc boosted its position in shares of Alphabet by 75.0% during the second quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock worth $26,000 after buying an additional 60 shares during the period. Tributary Capital Management LLC purchased a new position in Alphabet during the 1st quarter valued at about $30,000. Kings Path Partners LLC purchased a new position in Alphabet during the 2nd quarter valued at about $36,000. Denver PWM LLC acquired a new position in Alphabet in the 2nd quarter valued at about $41,000. Finally, CarsonAllaria Wealth Management Ltd. increased its stake in Alphabet by 59.2% during the first quarter. CarsonAllaria Wealth Management Ltd. now owns 293 shares of the information services provider’s stock worth $44,000 after purchasing an additional 109 shares during the period. Institutional investors and hedge funds own 40.03% of the company’s stock.

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.