Alphabet’s (GOOGL) Buy Rating Reiterated at The Goldman Sachs Group

Alphabet (NASDAQ:GOOGL)‘s stock had its “buy” rating reiterated by research analysts at The Goldman Sachs Group in a research note issued on Thursday,Benzinga reports. They currently have a $210.00 price objective on the information services provider’s stock. The Goldman Sachs Group’s target price suggests a potential upside of 10.63% from the company’s previous close.

Other equities research analysts have also recently issued reports about the company. Piper Sandler reissued an “overweight” rating and set a $210.00 price objective (up from $200.00) on shares of Alphabet in a research note on Wednesday, October 30th. Scotiabank upgraded Alphabet to a “strong-buy” rating in a report on Friday, October 11th. BMO Capital Markets reaffirmed an “outperform” rating and set a $217.00 price objective (up from $215.00) on shares of Alphabet in a research note on Wednesday, October 30th. Truist Financial increased their target price on shares of Alphabet from $220.00 to $225.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Finally, Seaport Res Ptn raised shares of Alphabet from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 29th. Seven investment analysts have rated the stock with a hold rating, thirty-one have given a buy rating and five have given 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 target price of $206.08.

Alphabet Stock Down 1.1 %

Shares of GOOGL opened at $189.82 on Thursday. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95. The stock has a market capitalization of $2.32 trillion, a price-to-earnings ratio of 25.18, a price-to-earnings-growth ratio of 1.39 and a beta of 1.01. Alphabet has a 1 year low of $129.68 and a 1 year high of $195.61. The business’s 50 day simple moving average is $171.63 and its 200-day simple moving average is $170.71.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results 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. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The company had revenue of $88.27 billion for the quarter, compared to the consensus estimate of $72.85 billion. During the same quarter in the prior year, the firm earned $1.55 earnings per share. As a group, equities analysts expect that Alphabet will post 8.01 earnings per share for the current fiscal year.

Insider Buying and Selling at Alphabet

In other news, Director John L. Hennessy sold 1,500 shares of the business’s stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $194.22, for a total transaction of $291,330.00. Following the sale, the director now directly owns 23,324 shares of the company’s stock, valued at $4,529,987.28. The trade was a 6.04 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $160.63, for a total value of $3,614,175.00. Following the completion of the transaction, the chief executive officer now owns 2,114,885 shares of the company’s stock, valued at $339,713,977.55. This trade represents a 1.05 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 198,623 shares of company stock worth $34,413,006. 11.55% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Brass Tax Wealth Management Inc. boosted its holdings in shares of Alphabet by 1.5% in the 3rd quarter. Brass Tax Wealth Management Inc. now owns 8,625 shares of the information services provider’s stock valued at $1,431,000 after acquiring an additional 128 shares during the last quarter. Legacy Wealth Management LLC MS lifted its position in Alphabet by 12.1% during the third quarter. Legacy Wealth Management LLC MS now owns 47,077 shares of the information services provider’s stock valued at $7,808,000 after purchasing an additional 5,091 shares during the period. Alternative Investment Advisors LLC. boosted its holdings in Alphabet by 3.4% in the third quarter. Alternative Investment Advisors LLC. now owns 11,063 shares of the information services provider’s stock valued at $1,835,000 after purchasing an additional 360 shares during the last quarter. DGS Capital Management LLC grew its position in Alphabet by 8.7% during the 3rd quarter. DGS Capital Management LLC now owns 17,621 shares of the information services provider’s stock worth $2,922,000 after purchasing an additional 1,414 shares during the period. Finally, Garden State Investment Advisory Services LLC raised its stake in shares of Alphabet by 24.3% during the 3rd quarter. Garden State Investment Advisory Services LLC now owns 12,936 shares of the information services provider’s stock valued at $2,146,000 after buying an additional 2,532 shares during the last quarter. 40.03% of the stock is owned by institutional investors and hedge funds.

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.