Wedbush Reaffirms “Outperform” Rating for Alphabet (NASDAQ:GOOGL)

Wedbush reaffirmed their outperform rating on shares of Alphabet (NASDAQ:GOOGL) in a report published on Thursday morning, Benzinga reports. They currently have a $205.00 target price on the information services provider’s stock. Wedbush also issued estimates for Alphabet’s Q1 2025 earnings at $1.95 EPS, Q2 2025 earnings at $2.10 EPS, Q3 2025 earnings at $2.10 EPS, Q4 2025 earnings at $2.39 EPS, FY2025 earnings at $8.53 EPS and FY2026 earnings at $9.59 EPS.

GOOGL has been the topic of several other reports. Evercore ISI cut their price target on shares of Alphabet from $225.00 to $200.00 and set an “outperform” rating on the stock in a report on Monday, September 16th. Piper Sandler reaffirmed an “overweight” rating and set a $200.00 target price on shares of Alphabet in a research report on Monday, September 30th. Wells Fargo & Company decreased their price target on 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 dropped their price target on Alphabet from $217.00 to $208.00 and set a “buy” rating on the stock in a research note on Monday, October 14th. Finally, Mizuho increased their price objective on shares of Alphabet from $205.00 to $210.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. Seven research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $201.76.

Alphabet Stock Up 1.6 %

NASDAQ:GOOGL opened at $165.27 on Thursday. The company’s 50-day simple moving average is $161.95 and its 200-day simple moving average is $168.60. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 2.08. Alphabet has a fifty-two week low of $120.21 and a fifty-two week high of $191.75. The stock has a market capitalization of $2.03 trillion, a P/E ratio of 23.71, a P/E/G ratio of 1.27 and a beta of 1.04.

Insider Buying and Selling at Alphabet

In other news, CAO Amie Thuener O’toole sold 2,835 shares of Alphabet stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $151.53, for a total value of $429,587.55. Following the sale, the chief accounting officer now directly owns 29,182 shares of the company’s stock, valued at $4,421,948.46. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $166.30, for a total value of $3,741,750.00. Following the completion of the sale, the chief executive officer now owns 2,106,806 shares in the company, valued at approximately $350,361,837.80. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Amie Thuener O’toole sold 2,835 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $151.53, for a total value of $429,587.55. Following the transaction, the chief accounting officer now owns 29,182 shares in the company, valued at approximately $4,421,948.46. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 220,426 shares of company stock valued at $35,993,340 over the last quarter. 11.55% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Christopher J. Hasenberg Inc increased its stake in Alphabet by 75.0% during the second quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock worth $26,000 after acquiring an additional 60 shares during the last quarter. Kings Path Partners LLC acquired a new stake in shares of Alphabet during the 2nd quarter worth about $36,000. Tributary Capital Management LLC purchased a new stake in Alphabet in the 1st quarter valued at about $30,000. Denver PWM LLC purchased a new stake in Alphabet in the 2nd quarter valued at about $41,000. Finally, Quarry LP acquired a new position in Alphabet in the second quarter valued at about $53,000. Institutional investors and hedge funds own 40.03% of the company’s stock.

About Alphabet

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.