Alphabet (NASDAQ:GOOGL) PT Raised to $190.00

Alphabet (NASDAQ:GOOGL) had its price target increased by analysts at Citigroup from $168.00 to $190.00 in a research report issued on Friday, Benzinga reports. The firm presently has a “buy” rating on the information services provider’s stock. Citigroup’s price target indicates a potential upside of 10.50% from the company’s previous close.

Other research analysts have also recently issued research reports about the company. Canaccord Genuity Group increased their price objective on Alphabet from $180.00 to $190.00 and gave the stock a “buy” rating in a research report on Wednesday, April 17th. BMO Capital Markets reiterated an “outperform” rating and set a $185.00 price objective (up previously from $178.00) on shares of Alphabet in a research report on Wednesday, April 10th. Rosenblatt Securities increased their price objective on Alphabet from $172.00 to $182.00 and gave the stock a “buy” rating in a research report on Friday. Truist Financial increased their price objective on Alphabet from $158.00 to $170.00 and gave the stock a “buy” rating in a research report on Wednesday, April 17th. Finally, JMP Securities restated a “market outperform” rating and issued a $160.00 price target on shares of Alphabet in a research report on Wednesday, April 10th. Five analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $187.82.

Alphabet Stock Up 10.2 %

GOOGL opened at $171.95 on Friday. Alphabet has a 1-year low of $103.54 and a 1-year high of $174.71. The stock’s fifty day simple moving average is $147.85 and its 200 day simple moving average is $141.42. The company has a current ratio of 2.10, a quick ratio of 2.10 and a debt-to-equity ratio of 0.05. The stock has a market cap of $2.14 trillion, a PE ratio of 26.37, a price-to-earnings-growth ratio of 1.43 and a beta of 1.05.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Tuesday, January 30th. The information services provider reported $1.64 earnings per share for the quarter, beating analysts’ consensus estimates of $1.60 by $0.04. The business had revenue of $86.31 billion for the quarter, compared to analysts’ expectations of $70.77 billion. Alphabet had a return on equity of 30.01% and a net margin of 25.90%. During the same quarter in the prior year, the business earned $1.05 EPS. As a group, research analysts expect that Alphabet will post 6.79 earnings per share for the current year.

Insider Activity at Alphabet

In other news, Director Frances Arnold sold 230 shares of the stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $154.06, for a total transaction of $35,433.80. Following the completion of the sale, the director now directly owns 15,104 shares in the company, valued at $2,326,922.24. The transaction was disclosed in a filing with the SEC, which is available at this link. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $132.70, for a total transaction of $2,985,750.00. Following the sale, the chief executive officer now owns 2,332,691 shares of the company’s stock, valued at $309,548,095.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Frances Arnold sold 230 shares of the company’s stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $154.06, for a total transaction of $35,433.80. Following the sale, the director now directly owns 15,104 shares in the company, valued at approximately $2,326,922.24. The disclosure for this sale can be found here. Insiders have sold 253,439 shares of company stock worth $36,746,578 over the last ninety days. Insiders own 0.88% of the company’s stock.

Institutional Trading of Alphabet

Institutional investors have recently bought and sold shares of the company. RWQ Financial Management Services Inc. boosted its position in Alphabet by 8.2% during the fourth quarter. RWQ Financial Management Services Inc. now owns 61,499 shares of the information services provider’s stock valued at $8,591,000 after acquiring an additional 4,664 shares during the last quarter. Ballast Advisors LLC boosted its position in Alphabet by 9.6% during the third quarter. Ballast Advisors LLC now owns 15,747 shares of the information services provider’s stock valued at $2,061,000 after acquiring an additional 1,385 shares during the last quarter. Quantum Financial Advisors LLC raised its holdings in shares of Alphabet by 8.0% during the third quarter. Quantum Financial Advisors LLC now owns 7,623 shares of the information services provider’s stock valued at $998,000 after purchasing an additional 564 shares during the period. Colton Groome Financial Advisors LLC raised its holdings in shares of Alphabet by 3.8% during the fourth quarter. Colton Groome Financial Advisors LLC now owns 2,700 shares of the information services provider’s stock valued at $377,000 after purchasing an additional 100 shares during the period. Finally, Acadian Asset Management LLC raised its holdings in shares of Alphabet by 2.4% during the third quarter. Acadian Asset Management LLC now owns 4,416,533 shares of the information services provider’s stock valued at $577,908,000 after purchasing an additional 104,366 shares during the period. Institutional investors 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.