Alphabet (NASDAQ:GOOGL) Stock Price Expected to Rise, Deutsche Bank Aktiengesellschaft Analyst Says

Alphabet (NASDAQ:GOOGLGet Free Report) had its price objective hoisted by stock analysts at Deutsche Bank Aktiengesellschaft from $340.00 to $370.00 in a research note issued on Tuesday,MarketScreener reports. The firm presently has a “buy” rating on the information services provider’s stock. Deutsche Bank Aktiengesellschaft’s target price would suggest a potential upside of 14.97% from the stock’s previous close.

Several other equities research analysts have also recently issued reports on GOOGL. Piper Sandler reaffirmed an “overweight” rating and set a $365.00 price objective (up from $330.00) on shares of Alphabet in a research report on Thursday, December 11th. CICC Research lifted their price target on Alphabet from $240.00 to $303.00 and gave the stock an “outperform” rating in a research report on Friday, October 31st. Jefferies Financial Group reissued a “buy” rating and issued a $365.00 price target (up from $320.00) on shares of Alphabet in a report on Monday, January 5th. BNP Paribas initiated coverage on Alphabet in a research note on Monday, November 24th. They set an “outperform” rating and a $355.00 price target on the stock. Finally, Bank of America upped their price target on shares of Alphabet from $335.00 to $370.00 and gave the company a “buy” rating in a report on Tuesday, January 13th. Three analysts have rated the stock with a Strong Buy rating, forty-five have given a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $329.08.

Read Our Latest Report on Alphabet

Alphabet Trading Down 2.5%

GOOGL opened at $321.83 on Tuesday. Alphabet has a 52 week low of $140.53 and a 52 week high of $340.49. The company has a quick ratio of 1.75, a current ratio of 1.75 and a debt-to-equity ratio of 0.06. The business has a fifty day simple moving average of $312.13 and a 200-day simple moving average of $256.45. The firm has a market cap of $3.88 trillion, a P/E ratio of 31.74, a P/E/G ratio of 1.82 and a beta of 1.08.

Alphabet (NASDAQ:GOOGLGet Free Report) last posted its earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.29 by $0.58. The firm had revenue of $102.35 billion for the quarter, compared to analyst estimates of $99.90 billion. Alphabet had a return on equity of 35.00% and a net margin of 32.23%. On average, equities analysts expect that Alphabet will post 8.9 earnings per share for the current year.

Insider Buying and Selling

In other news, CAO Amie Thuener O’toole sold 2,778 shares of the business’s stock in a transaction on Monday, December 15th. The stock was sold at an average price of $312.30, for a total transaction of $867,569.40. Following the sale, the chief accounting officer directly owned 8,962 shares of the company’s stock, valued at $2,798,832.60. The trade was a 23.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Frances Arnold sold 102 shares of the firm’s stock in a transaction that occurred on Wednesday, December 31st. The stock was sold at an average price of $313.45, for a total transaction of $31,971.90. Following the completion of the transaction, the director directly owned 18,205 shares of the company’s stock, valued at $5,706,357.25. This represents a 0.56% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 189,909 shares of company stock valued at $57,927,282 in the last ninety days. Insiders own 11.55% of the company’s stock.

Institutional Trading of Alphabet

Several large investors have recently added to or reduced their stakes in GOOGL. Financial Gravity Companies Inc. bought a new stake in shares of Alphabet in the second quarter valued at about $31,000. PMV Capital Advisers LLC bought a new stake in shares of Alphabet during the fourth quarter worth $38,000. CarsonAllaria Wealth Management Ltd. boosted its stake in Alphabet by 36.4% in the second quarter. CarsonAllaria Wealth Management Ltd. now owns 251 shares of the information services provider’s stock valued at $44,000 after acquiring an additional 67 shares during the last quarter. Pilgrim Partners Asia Pte Ltd acquired a new position in Alphabet during the third quarter valued at approximately $53,000. Finally, iSAM Funds UK Ltd bought a new stake in shares of Alphabet in the third quarter worth about $53,000. 40.03% of the stock is owned by institutional investors.

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About Alphabet

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Alphabet Inc is the holding company created in 2015 to organize Google and a portfolio of businesses developing technologies beyond Google’s core internet services. Its principal operations are led by Google, which builds and operates consumer-facing products such as Google Search, YouTube, Android, Chrome, Gmail, Google Maps and Google Workspace, as well as advertising platforms (Google Ads and AdSense) that historically generate the majority of its revenue. Google also develops consumer hardware (Pixel phones, Nest smart-home devices, Chromecast) and developer and distribution platforms such as Google Play.

Beyond Google’s consumer and advertising businesses, Alphabet invests in enterprise and infrastructure offerings through Google Cloud, which provides cloud computing, data analytics and productivity services to businesses and institutions.

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