Several brokerages have updated their recommendations and price targets on shares of Alphabet (NASDAQ: GOOGL) in the last few weeks:
- 4/19/2024 – Alphabet had its price target raised by analysts at Jefferies Financial Group Inc. from $175.00 to $180.00. They now have a “buy” rating on the stock.
- 4/17/2024 – Alphabet had its price target raised by analysts at Canaccord Genuity Group Inc. from $180.00 to $190.00. They now have a “buy” rating on the stock.
- 4/17/2024 – Alphabet had its price target raised by analysts at Truist Financial Co. from $158.00 to $170.00. They now have a “buy” rating on the stock.
- 4/16/2024 – Alphabet had its price target raised by analysts at UBS Group AG from $150.00 to $166.00. They now have a “neutral” rating on the stock.
- 4/10/2024 – Alphabet had its “outperform” rating reaffirmed by analysts at BMO Capital Markets. They now have a $185.00 price target on the stock, up previously from $178.00.
- 4/10/2024 – Alphabet had its “outperform” rating reaffirmed by analysts at Wedbush. They now have a $175.00 price target on the stock.
- 4/10/2024 – Alphabet had its “market outperform” rating reaffirmed by analysts at JMP Securities. They now have a $160.00 price target on the stock.
- 4/10/2024 – Alphabet had its “buy” rating reaffirmed by analysts at Citigroup Inc.. They now have a $168.00 price target on the stock.
- 4/3/2024 – Alphabet had its price target lowered by analysts at Wells Fargo & Company from $144.00 to $141.00. They now have an “equal weight” rating on the stock.
- 3/22/2024 – Alphabet had its price target raised by analysts at Wedbush from $160.00 to $175.00. They now have an “outperform” rating on the stock.
- 3/18/2024 – Alphabet had its price target raised by analysts at Wells Fargo & Company from $141.00 to $144.00. They now have an “equal weight” rating on the stock.
Alphabet Stock Performance
Shares of GOOGL stock traded down $1.92 during trading hours on Friday, reaching $154.09. 32,589,839 shares of the company’s stock were exchanged, compared to its average volume of 30,139,635. Alphabet Inc. has a 1 year low of $102.63 and a 1 year high of $160.22. The company has a market cap of $1.92 trillion, a P/E ratio of 26.57, a price-to-earnings-growth ratio of 1.43 and a beta of 1.05. The company’s 50 day moving average is $146.16 and its two-hundred day moving average is $140.40. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.10 and a quick ratio of 2.10.
Alphabet (NASDAQ:GOOGL – Get Free Report) last released its quarterly earnings data on Tuesday, January 30th. The information services provider reported $1.64 earnings per share for the quarter, beating the consensus estimate of $1.60 by $0.04. Alphabet had a return on equity of 27.22% and a net margin of 24.01%. The firm had revenue of $86.31 billion during the quarter, compared to the consensus estimate of $70.77 billion. During the same period last year, the business posted $1.05 EPS. Equities research analysts anticipate that Alphabet Inc. will post 6.78 EPS for the current fiscal year.
Insiders Place Their Bets
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Spreng Capital Management Inc. increased its holdings in shares of Alphabet by 4.0% in the first quarter. Spreng Capital Management Inc. now owns 131 shares of the information services provider’s stock valued at $364,000 after purchasing an additional 5 shares in the last quarter. West Family Investments Inc. increased its holdings in shares of Alphabet by 0.3% in the first quarter. West Family Investments Inc. now owns 1,754 shares of the information services provider’s stock valued at $4,878,000 after purchasing an additional 6 shares in the last quarter. Maple Capital Management Inc. increased its holdings in shares of Alphabet by 2.1% in the first quarter. Maple Capital Management Inc. now owns 296 shares of the information services provider’s stock valued at $823,000 after purchasing an additional 6 shares in the last quarter. Private Advisory Group LLC increased its holdings in shares of Alphabet by 1.8% in the first quarter. Private Advisory Group LLC now owns 401 shares of the information services provider’s stock valued at $1,115,000 after purchasing an additional 7 shares in the last quarter. Finally, Weik Capital Management increased its holdings in shares of Alphabet by 0.5% in the first quarter. Weik Capital Management now owns 1,533 shares of the information services provider’s stock valued at $4,264,000 after purchasing an additional 8 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.
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.
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