Jefferies Financial Group Cuts Alphabet (NASDAQ:GOOGL) Price Target to $3,400.00

Alphabet (NASDAQ:GOOGLGet Rating) had its price target decreased by Jefferies Financial Group from $3,600.00 to $3,400.00 in a research note released on Wednesday morning, The Fly reports. Jefferies Financial Group currently has a buy rating on the information services provider’s stock. Jefferies Financial Group also issued estimates for Alphabet’s Q2 2022 earnings at $24.89 EPS, Q3 2022 earnings at $26.82 EPS, Q4 2022 earnings at $29.41 EPS, FY2022 earnings at $103.52 EPS and FY2023 earnings at $125.51 EPS.

Other equities research analysts have also issued research reports about the stock. The Goldman Sachs Group boosted their price target on shares of Alphabet from $3,350.00 to $3,400.00 and gave the company a buy rating in a report on Wednesday, February 2nd. Tigress Financial increased their price target on shares of Alphabet from $3,540.00 to $3,670.00 and gave the stock a strong-buy rating in a research report on Friday, March 18th. Wolfe Research cut their price target on shares of Alphabet from $3,500.00 to $2,900.00 and set an outperform rating for the company in a research note on Wednesday. UBS Group lowered their price target on Alphabet from $3,850.00 to $3,600.00 and set a buy rating on the stock in a research report on Wednesday. Finally, Barclays reduced their target price on shares of Alphabet from $3,300.00 to $3,200.00 and set an overweight rating on the stock in a research note on Wednesday. Four analysts have rated the stock with a hold rating, thirty-five have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of Buy and a consensus target price of $3,306.23.

NASDAQ GOOGL opened at $2,282.19 on Wednesday. Alphabet has a twelve month low of $2,193.62 and a twelve month high of $3,030.93. The stock has a market cap of $1.51 trillion, a PE ratio of 20.64, a PEG ratio of 1.01 and a beta of 1.06. The firm has a 50-day simple moving average of $2,635.35 and a 200 day simple moving average of $2,767.76. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.91 and a current ratio of 2.87.

Alphabet shares are going to split before the market opens on Monday, July 18th. The 20-1 split was announced on Tuesday, February 1st. The newly issued shares will be issued to shareholders after the market closes on Friday, July 15th.

Alphabet (NASDAQ:GOOGLGet Rating) last announced its quarterly earnings data on Tuesday, April 26th. The information services provider reported $24.62 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $25.51 by ($0.89). Alphabet had a return on equity of 30.18% and a net margin of 27.57%. During the same period last year, the business posted $26.29 EPS. Research analysts forecast that Alphabet will post 112.88 earnings per share for the current fiscal year.

In other news, Director Lawrence Page sold 100 shares of Alphabet stock in a transaction that occurred on Monday, April 18th. The stock was sold at an average price of $2,574.16, for a total transaction of $257,416.00. Following the completion of the transaction, the director now directly owns 19,527,502 shares in the company, valued at approximately $50,266,914,548.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Brin Sergey sold 2,639 shares of the stock in a transaction on Monday, April 11th. The shares were sold at an average price of $2,632.28, for a total value of $6,946,586.92. Following the completion of the sale, the director now owns 18,599,842 shares in the company, valued at approximately $48,959,992,099.76. The disclosure for this sale can be found here. Insiders have sold 549,698 shares of company stock worth $20,324,689 over the last ninety days. Insiders own 13.20% of the company’s stock.

Hedge funds have recently made changes to their positions in the stock. Strategic Asset Management LLC bought a new position in Alphabet during the 3rd quarter worth $28,000. Morling Financial Advisors LLC acquired a new position in shares of Alphabet in the fourth quarter valued at about $29,000. West Bancorporation Inc. bought a new position in Alphabet during the fourth quarter worth about $29,000. Wealthgate Family Office LLC acquired a new stake in Alphabet in the 4th quarter worth about $32,000. Finally, Disciplined Investments LLC boosted its holdings in Alphabet by 200.0% in the 3rd quarter. Disciplined Investments LLC now owns 15 shares of the information services provider’s stock valued at $40,000 after purchasing an additional 10 shares during the period. 34.47% of the stock is owned by institutional investors and hedge funds.

Alphabet Company Profile (Get Rating)

Alphabet Inc provides 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 offers products and services, including ads, Android, Chrome, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.

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