Rosenblatt Securities Reaffirms “Neutral” Rating for Alphabet (NASDAQ:GOOGL)

Alphabet (NASDAQ:GOOGL)‘s stock had its “neutral” rating reiterated by Rosenblatt Securities in a report issued on Wednesday,Benzinga reports. They currently have a $205.00 price objective on the information services provider’s stock. Rosenblatt Securities’ target price points to a potential upside of 27.59% from the stock’s current price.

GOOGL has been the subject of a number of other research reports. KeyCorp cut their price target on shares of Alphabet from $220.00 to $202.00 and set an “overweight” rating for the company in a report on Tuesday. Morgan Stanley reduced their price target on Alphabet from $215.00 to $210.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 5th. Citizens Jmp cut Alphabet from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 2nd. JPMorgan Chase & Co. lowered their price objective on Alphabet from $232.00 to $220.00 and set an “overweight” rating for the company in a research report on Wednesday, February 5th. Finally, DA Davidson increased their price objective on shares of Alphabet from $190.00 to $200.00 and gave the stock a “neutral” rating in a research report on Friday, January 24th. Ten research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat, Alphabet currently has an average rating of “Moderate Buy” and an average target price of $210.64.

Alphabet Price Performance

Alphabet stock opened at $160.67 on Wednesday. The business’s fifty day moving average is $184.35 and its two-hundred day moving average is $176.56. Alphabet has a 52 week low of $146.08 and a 52 week high of $207.05. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.84 and a current ratio of 1.84. The firm has a market cap of $1.96 trillion, a P/E ratio of 19.96, a P/E/G ratio of 1.34 and a beta of 1.02.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share for the quarter, topping analysts’ consensus estimates of $2.12 by $0.03. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. Equities research analysts forecast that Alphabet will post 8.9 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CAO Amie Thuener O’toole sold 1,374 shares of the firm’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $173.47, for a total value of $238,347.78. Following the transaction, the chief accounting officer now directly owns 15,024 shares in the company, valued at approximately $2,606,213.28. This trade represents a 8.38 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director John L. Hennessy sold 200 shares of the business’s stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $165.53, for a total transaction of $33,106.00. Following the transaction, the director now directly owns 7,813 shares of the company’s stock, valued at approximately $1,293,285.89. This trade represents a 2.50 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 93,048 shares of company stock valued at $17,374,274. Company insiders own 11.55% of the company’s stock.

Hedge Funds Weigh In On Alphabet

Several large investors have recently bought and sold shares of the stock. Bennett Selby Investments LP increased its position in shares of Alphabet by 4.0% during the fourth quarter. Bennett Selby Investments LP now owns 1,354 shares of the information services provider’s stock valued at $256,000 after acquiring an additional 52 shares in the last quarter. Macroview Investment Management LLC grew its position in Alphabet by 4.2% in the 4th quarter. Macroview Investment Management LLC now owns 1,293 shares of the information services provider’s stock worth $245,000 after purchasing an additional 52 shares during the period. Conrad Siegel Investment Advisors Inc. raised its stake in Alphabet by 0.5% during the 4th quarter. Conrad Siegel Investment Advisors Inc. now owns 9,845 shares of the information services provider’s stock valued at $1,864,000 after buying an additional 53 shares during the last quarter. Cornerstone Planning Group LLC grew its holdings in shares of Alphabet by 2.3% in the fourth quarter. Cornerstone Planning Group LLC now owns 2,381 shares of the information services provider’s stock worth $457,000 after acquiring an additional 53 shares during the period. Finally, Addison Advisors LLC boosted its position in Alphabet by 0.7% in the fourth quarter. Addison Advisors LLC now owns 7,527 shares of the information services provider’s stock worth $1,425,000 after purchasing an additional 53 shares during the last quarter. 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.