Alphabet (NASDAQ:GOOGL – Get Rating) had its target price raised by Oppenheimer from $135.00 to $145.00 in a report released on Wednesday, MarketBeat reports. They currently have an outperform rating on the information services provider’s stock. Oppenheimer also issued estimates for Alphabet’s Q1 2023 earnings at $1.12 EPS, Q2 2023 earnings at $1.32 EPS, Q3 2023 earnings at $1.38 EPS, Q4 2023 earnings at $1.74 EPS, FY2023 earnings at $5.55 EPS, FY2024 earnings at $6.62 EPS and FY2025 earnings at $7.88 EPS.
Other equities analysts also recently issued reports about the company. Raymond James lifted their target price on Alphabet from $119.00 to $130.00 and gave the company an outperform rating in a research note on Wednesday. Credit Suisse Group decreased their target price on Alphabet from $136.00 to $135.00 and set an outperform rating for the company in a research note on Wednesday. Piper Sandler lifted their target price on Alphabet from $117.00 to $128.00 and gave the company an overweight rating in a research note on Wednesday. Jefferies Financial Group restated a buy rating and issued a $130.00 target price on shares of Alphabet in a research note on Friday, February 10th. Finally, MKM Partners lifted their target price on Alphabet from $120.00 to $126.00 in a research note on Friday, February 3rd. Three research analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Alphabet has an average rating of Moderate Buy and a consensus price target of $132.03.
Alphabet Stock Down 0.1 %
Shares of Alphabet stock opened at $103.71 on Wednesday. The company has a quick ratio of 2.34, a current ratio of 2.38 and a debt-to-equity ratio of 0.06. The firm has a market cap of $1.33 trillion, a P/E ratio of 22.79, a P/E/G ratio of 1.47 and a beta of 1.10. Alphabet has a fifty-two week low of $83.34 and a fifty-two week high of $122.85. The business has a 50-day moving average price of $99.70 and a 200 day moving average price of $96.49.
Alphabet (NASDAQ:GOOGL – Get Rating) last announced its quarterly earnings data on Tuesday, April 25th. The information services provider reported $1.17 earnings per share for the quarter, beating the consensus estimate of $1.06 by $0.11. The firm had revenue of $69.79 billion during the quarter, compared to analyst estimates of $57.19 billion. Alphabet had a return on equity of 23.54% and a net margin of 21.20%. During the same period in the previous year, the company earned $1.23 earnings per share. On average, sell-side analysts forecast that Alphabet will post 5.08 earnings per share for the current fiscal year.
Insider Buying and Selling at Alphabet
In other Alphabet news, SVP Prabhakar Raghavan sold 32,379 shares of the company’s stock in a transaction dated Monday, April 3rd. The shares were sold at an average price of $103.46, for a total transaction of $3,349,931.34. Following the completion of the sale, the senior vice president now directly owns 76,580 shares in the company, valued at $7,922,966.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, major shareholder 2021 Gp L.L.C. Gv acquired 415,000 shares of the business’s stock in a transaction dated Monday, March 13th. The stock was acquired at an average price of $29.29 per share, with a total value of $12,155,350.00. Following the completion of the transaction, the insider now owns 1,709,527 shares of the company’s stock, valued at $50,072,045.83. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Prabhakar Raghavan sold 32,379 shares of the company’s stock in a transaction dated Monday, April 3rd. The shares were sold at an average price of $103.46, for a total transaction of $3,349,931.34. Following the transaction, the senior vice president now directly owns 76,580 shares of the company’s stock, valued at approximately $7,922,966.80. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 100,539 shares of company stock valued at $10,209,164. Corporate insiders own 11.44% of the company’s stock.
Institutional Inflows and Outflows
A number of large investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its position in shares of Alphabet by 1,919.4% during the third quarter. Vanguard Group Inc. now owns 477,035,902 shares of the information services provider’s stock valued at $45,628,484,000 after buying an additional 453,413,389 shares during the last quarter. State Street Corp raised its position in Alphabet by 1,900.6% in the third quarter. State Street Corp now owns 217,154,306 shares of the information services provider’s stock worth $20,770,809,000 after purchasing an additional 206,300,042 shares in the last quarter. Moneta Group Investment Advisors LLC raised its position in Alphabet by 111,197.8% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 170,420,243 shares of the information services provider’s stock worth $15,036,178,000 after purchasing an additional 170,267,122 shares in the last quarter. Geode Capital Management LLC raised its position in Alphabet by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 117,077,511 shares of the information services provider’s stock worth $10,310,795,000 after purchasing an additional 1,923,667 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its position in Alphabet by 1,759.2% in the third quarter. Price T Rowe Associates Inc. MD now owns 116,116,066 shares of the information services provider’s stock worth $11,106,502,000 after purchasing an additional 109,870,525 shares in the last quarter. Institutional investors and hedge funds own 34.06% of the company’s stock.
About Alphabet
Alphabet, Inc engages in the business of delivering online advertising, cloud-based solutions that provide enterprise customers with infrastructure and platform services, the provision of communication and collaboration tools, and sales of other products and services such as apps and in-app purchases, hardware, and subscription-based products.
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.