Alphabet (NASDAQ:GOOGL) Price Target Raised to $292.00

Alphabet (NASDAQ:GOOGL) had its target price lifted by Stifel Nicolaus from $222.00 to $292.00 in a research report released on Friday morning, Marketbeat.com reports. They currently have a buy rating on the information services provider’s stock.

A number of other equities research analysts have also commented on GOOGL. Wall Street Zen lowered shares of Alphabet from a “buy” rating to a “hold” rating in a report on Sunday, September 21st. Citigroup upped their price objective on shares of Alphabet from $225.00 to $280.00 and gave the company a “buy” rating in a research note on Monday, September 15th. Sanford C. Bernstein upped their price objective on shares of Alphabet from $210.00 to $260.00 and gave the company a “market perform” rating in a research note on Wednesday, October 22nd. Moffett Nathanson upped their price target on Alphabet from $230.00 to $295.00 and gave the company a “buy” rating in a research report on Thursday, September 25th. Finally, Melius Research upped their price target on Alphabet from $220.00 to $255.00 in a research report on Thursday, September 25th. Four investment analysts have rated the stock with a Strong Buy rating, thirty-four have assigned a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $263.55.

Alphabet Stock Performance

Shares of GOOGL stock opened at $259.92 on Friday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. Alphabet has a fifty-two week low of $140.53 and a fifty-two week high of $261.68. The stock has a 50 day moving average price of $236.72 and a two-hundred day moving average price of $195.85. The company has a market capitalization of $3.14 trillion, a P/E ratio of 27.68, a PEG ratio of 1.75 and a beta of 1.00.

Insider Transactions at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 2,778 shares of the stock in a transaction on Monday, September 15th. The stock was sold at an average price of $245.00, for a total value of $680,610.00. Following the completion of the transaction, the chief accounting officer owned 17,293 shares in the company, valued at approximately $4,236,785. This represents a 13.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction on Wednesday, September 17th. The stock was sold at an average price of $249.50, for a total value of $8,108,750.00. Following the completion of the transaction, the chief executive officer owned 2,397,392 shares of the company’s stock, valued at approximately $598,149,304. This trade represents a 1.34% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 246,150 shares of company stock valued at $55,805,379. Corporate insiders own 11.55% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of GOOGL. Breakwater Investment Management increased its position in Alphabet by 1.0% during the 3rd quarter. Breakwater Investment Management now owns 4,228 shares of the information services provider’s stock valued at $1,028,000 after buying an additional 41 shares in the last quarter. Wealth Alliance Advisory Group LLC increased its position in Alphabet by 1.0% during the 3rd quarter. Wealth Alliance Advisory Group LLC now owns 4,045 shares of the information services provider’s stock valued at $983,000 after buying an additional 41 shares in the last quarter. Clearview Wealth Advisors LLC increased its holdings in shares of Alphabet by 3.3% during the third quarter. Clearview Wealth Advisors LLC now owns 1,281 shares of the information services provider’s stock valued at $312,000 after acquiring an additional 41 shares in the last quarter. Kooman & Associates increased its holdings in shares of Alphabet by 3.3% during the third quarter. Kooman & Associates now owns 1,343 shares of the information services provider’s stock valued at $326,000 after acquiring an additional 43 shares in the last quarter. Finally, Contravisory Investment Management Inc. increased its holdings in shares of Alphabet by 2.9% during the third quarter. Contravisory Investment Management Inc. now owns 1,572 shares of the information services provider’s stock valued at $382,000 after acquiring an additional 44 shares in the last quarter. 40.03% of the stock is currently owned by institutional investors.

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.