KeyCorp Lowers Alphabet (NASDAQ:GOOG) Price Target to $185.00

Alphabet (NASDAQ:GOOG) had its target price decreased by equities researchers at KeyCorp from $202.00 to $185.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the information services provider’s stock. KeyCorp’s target price indicates a potential upside of 25.77% from the company’s current price.

GOOG has been the topic of a number of other reports. Wedbush reissued an “outperform” rating and issued a $220.00 price objective on shares of Alphabet in a research report on Thursday, January 30th. Westpark Capital began coverage on Alphabet in a report on Tuesday, April 1st. They issued a “buy” rating and a $210.00 target price on the stock. Morgan Stanley reaffirmed an “overweight” rating on shares of Alphabet in a report on Wednesday, February 5th. Needham & Company LLC reaffirmed a “buy” rating on shares of Alphabet in a research report on Wednesday, February 5th. Finally, Benchmark reissued a “negative” rating on shares of Alphabet in a research report on Wednesday, February 5th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, sixteen have issued a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $207.33.

Alphabet Stock Up 0.4 %

NASDAQ:GOOG traded up $0.52 during midday trading on Wednesday, reaching $147.10. The company had a trading volume of 5,140,819 shares, compared to its average volume of 19,166,347. The stock’s fifty day simple moving average is $174.13 and its 200-day simple moving average is $178.10. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03. Alphabet has a 12-month low of $142.66 and a 12-month high of $208.70. The firm has a market capitalization of $1.79 trillion, a price-to-earnings ratio of 18.32, a PEG ratio of 1.34 and a beta of 1.04.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, topping analysts’ consensus estimates of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. On average, sell-side analysts anticipate that Alphabet will post 8.89 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CAO Amie Thuener O’toole sold 673 shares of the firm’s stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $155.33, for a total value of $104,537.09. Following the completion of the transaction, the chief accounting officer now owns 15,303 shares in the company, valued at $2,377,014.99. This trade represents a 4.21 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $158.56, for a total transaction of $5,153,200.00. Following the completion of the sale, the chief executive officer now owns 2,717,696 shares in the company, valued at $430,917,877.76. This represents a 1.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 119,797 shares of company stock worth $21,089,470. 12.99% of the stock is owned by company insiders.

Hedge Funds Weigh In On Alphabet

Hedge funds have recently bought and sold shares of the stock. Fiduciary Advisors Inc. acquired a new position in Alphabet in the 4th quarter valued at about $27,000. LSV Asset Management purchased a new stake in shares of Alphabet during the fourth quarter worth about $27,000. WealthTrak Capital Management LLC acquired a new position in shares of Alphabet in the fourth quarter valued at approximately $38,000. Mountain Hill Investment Partners Corp. purchased a new position in shares of Alphabet during the fourth quarter valued at approximately $39,000. Finally, Noble Wealth Management PBC acquired a new stake in Alphabet during the fourth quarter worth approximately $43,000. Hedge funds and other institutional investors own 27.26% 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.