Alphabet (NASDAQ:GOOGL) Given “Buy” Rating at Needham & Company LLC

Alphabet (NASDAQ:GOOGL)‘s stock had its “buy” rating reissued by equities researchers at Needham & Company LLC in a research note issued to investors on Tuesday, Benzinga reports. They presently have a $210.00 target price on the information services provider’s stock. Needham & Company LLC’s target price would suggest a potential upside of 27.15% from the company’s current price.

Several other research firms have also issued reports on GOOGL. Truist Financial reiterated a “buy” rating and issued a $196.00 target price on shares of Alphabet in a research note on Monday, September 16th. Wells Fargo & Company reduced their target price on shares of Alphabet from $190.00 to $182.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 2nd. The Goldman Sachs Group reduced their price target on shares of Alphabet from $217.00 to $208.00 and set a “buy” rating for the company in a research report on Monday. Wedbush restated an “outperform” rating and set a $205.00 price target on shares of Alphabet in a research report on Thursday, September 5th. Finally, JMP Securities restated a “market outperform” rating and set a $200.00 price target on shares of Alphabet in a research report on Wednesday, September 25th. Eight equities research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have issued a strong buy rating to the stock. According to MarketBeat.com, Alphabet presently has a consensus rating of “Moderate Buy” and an average price target of $201.76.

Alphabet Stock Performance

NASDAQ GOOGL opened at $165.16 on Tuesday. Alphabet has a 1 year low of $120.21 and a 1 year high of $191.75. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08 and a quick ratio of 2.08. The firm has a market cap of $2.04 trillion, a price-to-earnings ratio of 25.33, a PEG ratio of 1.21 and a beta of 1.04. The company has a fifty day moving average price of $161.76 and a 200-day moving average price of $168.05.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.85 by $0.04. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The firm had revenue of $84.74 billion during the quarter, compared to analyst estimates of $70.60 billion. During the same quarter in the prior year, the business posted $1.44 EPS. As a group, equities research analysts predict that Alphabet will post 7.64 EPS for the current fiscal year.

Insider Transactions at Alphabet

In related news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $168.00, for a total value of $114,576.00. Following the sale, the chief accounting officer now directly owns 31,334 shares of the company’s stock, valued at $5,264,112. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $168.00, for a total value of $114,576.00. Following the sale, the chief accounting officer now directly owns 31,334 shares of the company’s stock, valued at $5,264,112. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $162.35, for a total transaction of $3,652,875.00. Following the completion of the sale, the chief executive officer now directly owns 2,182,385 shares in the company, valued at $354,310,204.75. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 220,426 shares of company stock valued at $35,993,340. 11.55% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Alphabet

A number of institutional investors and hedge funds have recently bought and sold shares of GOOGL. Christopher J. Hasenberg Inc raised its stake in Alphabet by 75.0% in the second quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock valued at $26,000 after purchasing an additional 60 shares in the last quarter. Tributary Capital Management LLC bought a new position in Alphabet during the first quarter valued at approximately $30,000. Kings Path Partners LLC bought a new position in Alphabet during the second quarter valued at approximately $36,000. Denver PWM LLC bought a new position in Alphabet during the second quarter valued at approximately $41,000. Finally, CarsonAllaria Wealth Management Ltd. grew its position in Alphabet by 59.2% during the first quarter. CarsonAllaria Wealth Management Ltd. now owns 293 shares of the information services provider’s stock valued at $44,000 after acquiring an additional 109 shares during the last quarter. 40.03% of the stock is 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.