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

Alphabet (NASDAQ:GOOGLGet Free Report) had its price objective increased by equities researchers at Dbs Bank from $400.00 to $460.00 in a note issued to investors on Thursday,MarketScreener reports. Dbs Bank’s price target indicates a potential upside of 15.10% from the stock’s previous close.

Other equities research analysts have also recently issued research reports about the company. Piper Sandler reissued an “overweight” rating and set a $425.00 target price (up from $395.00) on shares of Alphabet in a research note on Thursday, April 30th. Wolfe Research cut their target price on Alphabet from $390.00 to $360.00 and set an “outperform” rating for the company in a research note on Friday, April 10th. Bank of America raised their target price on Alphabet from $370.00 to $430.00 and gave the stock a “buy” rating in a research note on Thursday, April 30th. Guggenheim reissued a “buy” rating and set a $450.00 target price (up from $375.00) on shares of Alphabet in a research note on Thursday, April 30th. Finally, DA Davidson raised their target price on Alphabet from $300.00 to $310.00 and gave the stock a “neutral” rating in a research note on Thursday, February 5th. Two investment analysts have rated the stock with a Strong Buy rating, forty-seven have issued a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $407.86.

Read Our Latest Stock Analysis on GOOGL

Alphabet Price Performance

NASDAQ:GOOGL traded up $1.66 during trading hours on Thursday, hitting $399.65. 4,904,838 shares of the stock were exchanged, compared to its average volume of 31,888,980. Alphabet has a 52-week low of $152.20 and a 52-week high of $401.37. The firm’s fifty day moving average price is $318.66 and its 200 day moving average price is $311.72. The company has a current ratio of 1.92, a quick ratio of 1.92 and a debt-to-equity ratio of 0.16. The company has a market cap of $4.83 trillion, a P/E ratio of 30.46, a P/E/G ratio of 1.66 and a beta of 1.26.

Alphabet (NASDAQ:GOOGLGet Free Report) last issued its earnings results on Wednesday, April 29th. The information services provider reported $5.11 earnings per share for the quarter, topping the consensus estimate of $2.64 by $2.47. The business had revenue of $109.90 billion for the quarter, compared to analysts’ expectations of $106.98 billion. Alphabet had a return on equity of 38.99% and a net margin of 37.92%. As a group, equities research analysts anticipate that Alphabet will post 14.01 EPS for the current fiscal year.

Insiders Place Their Bets

In other Alphabet news, Director Frances Arnold sold 102 shares of the firm’s stock in a transaction on Thursday, April 30th. The stock was sold at an average price of $371.00, for a total value of $37,842.00. Following the sale, the director directly owned 18,621 shares in the company, valued at $6,908,391. This trade represents a 0.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John L. Hennessy sold 1,050 shares of the firm’s stock in a transaction on Wednesday, April 15th. The shares were sold at an average price of $331.65, for a total value of $348,232.50. Following the completion of the sale, the director owned 3,581 shares in the company, valued at approximately $1,187,638.65. This represents a 22.67% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 158,553 shares of company stock valued at $47,951,856. 11.61% of the stock is owned by company insiders.

Institutional Trading of Alphabet

Hedge funds and other institutional investors have recently bought and sold shares of the business. Oslo Pensjonsforsikring AS acquired a new stake in shares of Alphabet during the first quarter worth about $56,886,000. Andra AP fonden increased its position in Alphabet by 93.4% in the 1st quarter. Andra AP fonden now owns 855,135 shares of the information services provider’s stock valued at $245,903,000 after acquiring an additional 413,061 shares during the period. Summit Asset Management LLC increased its position in Alphabet by 33.4% in the 1st quarter. Summit Asset Management LLC now owns 4,430 shares of the information services provider’s stock valued at $1,274,000 after acquiring an additional 1,108 shares during the period. Wilkerson Advisory Group LLC boosted its holdings in Alphabet by 190.3% in the 1st quarter. Wilkerson Advisory Group LLC now owns 2,833 shares of the information services provider’s stock valued at $815,000 after purchasing an additional 1,857 shares in the last quarter. Finally, Glenview Trust Co boosted its holdings in Alphabet by 1.0% in the 1st quarter. Glenview Trust Co now owns 670,528 shares of the information services provider’s stock valued at $192,817,000 after purchasing an additional 6,687 shares in the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Alphabet News Roundup

Here are the key news stories impacting Alphabet this week:

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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