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

Alphabet (NASDAQ:GOOG) had its target price dropped by stock analysts at KeyCorp from $202.00 to $185.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the information services provider’s stock. KeyCorp’s price target would indicate a potential upside of 25.77% from the company’s previous close.

A number of other research analysts have also recently weighed in on GOOG. Citizens Jmp cut Alphabet from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 2nd. Wedbush reaffirmed an “outperform” rating and issued a $220.00 price objective on shares of Alphabet in a research note on Thursday, January 30th. Benchmark reissued a “negative” rating on shares of Alphabet in a research report on Wednesday, February 5th. Westpark Capital started coverage on shares of Alphabet in a research report on Tuesday, April 1st. They set a “buy” rating and a $210.00 price target on the stock. Finally, Scotiabank boosted their price objective on shares of Alphabet from $212.00 to $240.00 and gave the stock a “sector outperform” rating in a research note on Friday, January 24th. One analyst has rated the stock with a sell rating, six have given a hold rating, sixteen have issued a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $207.33.

Alphabet Trading Up 0.4 %

Shares of NASDAQ GOOG traded up $0.52 on Wednesday, reaching $147.10. 5,140,819 shares of the company traded hands, compared to its average volume of 19,166,347. The stock has a market capitalization of $1.79 trillion, a PE ratio of 18.32, a P/E/G ratio of 1.34 and a beta of 1.04. Alphabet has a fifty-two week low of $142.66 and a fifty-two week high of $208.70. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03. The company has a 50 day moving average of $174.13 and a 200 day moving average of $178.10.

Alphabet (NASDAQ:GOOG) last posted its quarterly 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%. On average, equities research analysts forecast that Alphabet will post 8.89 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $158.56, for a total value of $5,153,200.00. Following the completion of the sale, the chief executive officer now directly owns 2,717,696 shares in the company, valued at approximately $430,917,877.76. The trade was a 1.18 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John L. Hennessy sold 1,500 shares of Alphabet stock in a transaction on Monday, January 13th. The stock was sold at an average price of $189.80, for a total transaction of $284,700.00. Following the completion of the transaction, the director now directly owns 21,824 shares of the company’s stock, valued at approximately $4,142,195.20. This represents a 6.43 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 119,797 shares of company stock worth $21,089,470. 12.99% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of GOOG. FMR LLC boosted its stake in Alphabet by 2.8% in the fourth quarter. FMR LLC now owns 117,991,725 shares of the information services provider’s stock valued at $22,470,344,000 after acquiring an additional 3,189,592 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Alphabet by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 104,777,092 shares of the information services provider’s stock worth $19,894,651,000 after purchasing an additional 1,219,606 shares during the last quarter. Capital International Investors boosted its position in Alphabet by 6.7% during the 4th quarter. Capital International Investors now owns 91,236,069 shares of the information services provider’s stock valued at $17,376,706,000 after purchasing an additional 5,758,244 shares during the period. Northern Trust Corp grew its stake in Alphabet by 16.1% during the 4th quarter. Northern Trust Corp now owns 57,098,042 shares of the information services provider’s stock worth $10,873,751,000 after buying an additional 7,917,625 shares during the last quarter. Finally, Capital Research Global Investors increased its position in Alphabet by 0.8% in the fourth quarter. Capital Research Global Investors now owns 39,148,500 shares of the information services provider’s stock worth $7,455,571,000 after buying an additional 294,556 shares during the period. 27.26% of the stock is owned by institutional investors and hedge funds.

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.