2 weeks Ago By ABMN Staff
Alphabet ( NASDAQ:GOOGL – Get Free Report ) had its target price cut by research analysts at Morgan Stanley from $210.00 to $185.00 in a research report issued to clients and investors on Thursday, Benzinga reports.
The brokerage currently has an “overweight” rating on the information services provider’s stock. Morgan Stanley’s price objective indicates a potential upside of 22.45% from the company’s previous close.
GOOGL has been the subject of a number of other research reports. Bank of America reiterated a “buy” rating and set a $210.00 price target on shares of Alphabet in a report on Monday, December 23rd.
Wedbush set a $190.00 target price on Alphabet and gave the stock an “outperform” rating in a research note on Tuesday. Needham & Company LLC restated a “buy” rating and issued a $178.
00 price target on shares of Alphabet in a research note on Wednesday. Citigroup reduced their price objective on shares of Alphabet from $229.00 to $195.
00 and set a “buy” rating for the company in a research report on Thursday, April 10th. Finally, Cantor Fitzgerald dropped their price objective on shares of Alphabet from $200.00 to $159.
00 and set a “neutral” rating on the stock in a research report on Wednesday. Ten research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and five have assigned a strong buy rating to the company. According to MarketBeat, Alphabet presently has a consensus rating of “Moderate Buy” and a consensus price target of $200.
74. Get Our Latest Analysis on GOOGL Alphabet Trading Down 1.5 % Alphabet ( NASDAQ:GOOGL – Get Free Report ) last posted its quarterly earnings results on Tuesday, February 4th.
The information services provider reported $2.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.12 by $0.
03. Alphabet had a net margin of 28.60% and a return on equity of 32.
49%. Equities research analysts predict that Alphabet will post 8.9 earnings per share for the current fiscal year.
Insider Buying and Selling at Alphabet In other news, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction dated Wednesday, April 16th. The stock was sold at an average price of $156.16, for a total transaction of $5,075,200.
00. Following the completion of the transaction, the chief executive officer now directly owns 2,685,196 shares in the company, valued at $419,320,207.36.
This trade represents a 1.20 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website .
Also, CAO Amie Thuener O’toole sold 1,340 shares of the stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $202.08, for a total transaction of $270,787.
20. Following the sale, the chief accounting officer now directly owns 17,848 shares of the company’s stock, valued at $3,606,723.84.
This represents a 6.98 % decrease in their position. The disclosure for this sale can be found here .
Over the last three months, insiders sold 148,163 shares of company stock worth $25,361,647. 11.55% of the stock is currently owned by insiders.
Institutional Investors Weigh In On Alphabet Institutional investors have recently modified their holdings of the company. Norges Bank bought a new stake in Alphabet during the fourth quarter valued at $24,383,677,000. FMR LLC boosted its position in shares of Alphabet by 9.
8% during the 4th quarter. FMR LLC now owns 248,416,916 shares of the information services provider’s stock valued at $47,025,322,000 after purchasing an additional 22,100,902 shares in the last quarter. GAMMA Investing LLC grew its stake in Alphabet by 16,993.
2% during the first quarter. GAMMA Investing LLC now owns 16,062,457 shares of the information services provider’s stock worth $2,483,898,000 after purchasing an additional 15,968,487 shares during the period. Northern Trust Corp lifted its stake in Alphabet by 17.
0% in the fourth quarter. Northern Trust Corp now owns 69,616,854 shares of the information services provider’s stock valued at $13,178,470,000 after buying an additional 10,135,430 shares during the period. Finally, Capital Research Global Investors boosted its holdings in shares of Alphabet by 16.
2% during the 4th quarter. Capital Research Global Investors now owns 72,033,086 shares of the information services provider’s stock worth $13,635,878,000 after buying an additional 10,037,685 shares in the last quarter. 40.
03% of the stock is owned by institutional investors. Alphabet Company Profile ( Get Free Report ) 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. Featured Stories Receive News & Ratings for Alphabet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alphabet and related companies with MarketBeat.com's FREE daily email newsletter .
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