Alphabet (NASDAQ:GOOGL) PT Raised to $170.00

Alphabet (NASDAQ:GOOGL) had its target price raised by Truist Financial from $158.00 to $170.00 in a report issued on Wednesday morning, Benzinga reports. Truist Financial currently has a buy rating on the information services provider’s stock.

A number of other equities analysts also recently issued reports on GOOGL. Wells Fargo & Company dropped their price objective on shares of Alphabet from $144.00 to $141.00 and set an equal weight rating on the stock in a report on Wednesday, April 3rd. Wedbush reissued an outperform rating and issued a $175.00 price objective on shares of Alphabet in a report on Wednesday, April 10th. Mizuho raised their price objective on shares of Alphabet from $155.00 to $170.00 and gave the stock a buy rating in a report on Wednesday, January 17th. Redburn Atlantic raised their target price on shares of Alphabet from $150.00 to $165.00 and gave the stock a buy rating in a research note on Wednesday, January 31st. Finally, JMP Securities restated a market outperform rating and set a $160.00 target price on shares of Alphabet in a research note on Wednesday, April 10th. Five equities research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Alphabet has a consensus rating of Moderate Buy and a consensus price target of $157.00.

Alphabet Stock Performance

Shares of NASDAQ GOOGL opened at $155.47 on Wednesday. The company has a quick ratio of 2.10, a current ratio of 2.10 and a debt-to-equity ratio of 0.05. The company has a market cap of $1.93 trillion, a PE ratio of 26.81, a PEG ratio of 1.43 and a beta of 1.05. The firm’s 50-day moving average price is $145.95 and its 200-day moving average price is $140.29. Alphabet has a 52-week low of $102.63 and a 52-week high of $160.22.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data on Tuesday, January 30th. The information services provider reported $1.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.60 by $0.04. The company had revenue of $86.31 billion for the quarter, compared to the consensus estimate of $70.77 billion. Alphabet had a net margin of 24.01% and a return on equity of 27.22%. During the same quarter last year, the firm posted $1.05 earnings per share. As a group, analysts anticipate that Alphabet will post 6.78 EPS for the current year.

Insider Activity at Alphabet

In related news, Director John L. Hennessy sold 800 shares of the firm’s stock in a transaction on Friday, April 12th. The shares were sold at an average price of $159.56, for a total value of $127,648.00. Following the completion of the transaction, the director now directly owns 7,991 shares of the company’s stock, valued at $1,275,043.96. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, Director John L. Hennessy sold 800 shares of the firm’s stock in a transaction on Friday, April 12th. The shares were sold at an average price of $159.56, for a total value of $127,648.00. Following the completion of the transaction, the director now directly owns 7,991 shares of the company’s stock, valued at $1,275,043.96. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Ruth Porat sold 48,077 shares of the firm’s stock in a transaction on Friday, March 8th. The shares were sold at an average price of $137.22, for a total transaction of $6,597,125.94. Following the completion of the transaction, the chief financial officer now directly owns 1,777,106 shares of the company’s stock, valued at $243,854,485.32. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 251,339 shares of company stock valued at $36,377,482. 0.88% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of GOOGL. Live Oak Investment Partners purchased a new position in Alphabet during the fourth quarter worth $26,000. Vermillion & White Wealth Management Group LLC purchased a new stake in shares of Alphabet during the fourth quarter valued at $30,000. Sanctuary Wealth Management L.L.C. purchased a new stake in shares of Alphabet during the fourth quarter valued at $34,000. Turim 21 Investimentos Ltda. purchased a new stake in shares of Alphabet during the third quarter valued at $38,000. Finally, DiNuzzo Private Wealth Inc. purchased a new stake in shares of Alphabet during the fourth quarter valued at $38,000. 40.03% of the stock is owned by hedge funds and other institutional investors.

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.