Alphabet (NASDAQ:GOOGL) Price Target Cut to $202.00 by Analysts at KeyCorp

Alphabet (NASDAQ:GOOGL) had its price target dropped by stock analysts at KeyCorp from $220.00 to $202.00 in a report released on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the information services provider’s stock. KeyCorp’s target price would suggest a potential upside of 22.95% from the stock’s previous close.

Several other brokerages have also recently issued reports on GOOGL. Robert W. Baird reaffirmed an “outperform” rating and set a $205.00 price objective on shares of Alphabet in a report on Tuesday, December 10th. Wedbush boosted their target price on Alphabet from $210.00 to $220.00 and gave the company an “outperform” rating in a research report on Monday, January 6th. The Goldman Sachs Group reissued a “buy” rating and set a $210.00 target price on shares of Alphabet in a research report on Thursday, December 12th. Wells Fargo & Company boosted their target price on Alphabet from $187.00 to $190.00 and gave the company an “equal weight” rating in a research report on Monday, January 13th. Finally, JPMorgan Chase & Co. cut their target price on Alphabet from $232.00 to $220.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 5th. Ten analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $210.03.

Alphabet Stock Down 0.7 %

NASDAQ GOOGL opened at $164.29 on Tuesday. The stock’s 50 day moving average is $185.05 and its 200 day moving average is $176.58. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03. Alphabet has a 12 month low of $146.08 and a 12 month high of $207.05. The stock has a market cap of $2.00 trillion, a PE ratio of 20.41, a P/E/G ratio of 1.34 and a beta of 1.02.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, topping analysts’ consensus estimates of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. Research analysts predict that Alphabet will post 8.9 EPS for the current fiscal year.

Insider Transactions at Alphabet

In related news, insider John Kent Walker sold 16,820 shares of the firm’s stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $192.62, for a total value of $3,239,868.40. Following the completion of the sale, the insider now owns 43,981 shares in the company, valued at $8,471,620.22. This trade represents a 27.66 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Amie Thuener O’toole sold 1,368 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $191.55, for a total transaction of $262,040.40. Following the completion of the sale, the chief accounting officer now owns 20,681 shares of the company’s stock, valued at $3,961,445.55. This trade represents a 6.20 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 93,048 shares of company stock worth $17,374,274. 11.55% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Alphabet

Several hedge funds have recently added to or reduced their stakes in GOOGL. FMR LLC grew its holdings in shares of Alphabet by 9.8% during the fourth quarter. FMR LLC now owns 248,416,916 shares of the information services provider’s stock worth $47,025,322,000 after buying an additional 22,100,902 shares in the last quarter. State Street Corp grew its holdings in shares of Alphabet by 0.3% during the third quarter. State Street Corp now owns 222,555,548 shares of the information services provider’s stock worth $36,910,838,000 after buying an additional 743,369 shares in the last quarter. Geode Capital Management LLC grew its holdings in Alphabet by 2.0% in the third quarter. Geode Capital Management LLC now owns 134,030,679 shares of the information services provider’s stock valued at $22,154,651,000 after purchasing an additional 2,626,431 shares during the period. Norges Bank purchased a new stake in Alphabet in the fourth quarter valued at approximately $24,383,677,000. Finally, Price T Rowe Associates Inc. MD grew its holdings in Alphabet by 8.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 98,638,127 shares of the information services provider’s stock valued at $18,672,198,000 after purchasing an additional 7,574,417 shares during the period. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

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.