Alphabet (NASDAQ:GOOGL) PT Raised to $170.00 at Truist Financial

Alphabet (NASDAQ:GOOGL) had its price objective lifted by equities research analysts at Truist Financial from $158.00 to $170.00 in a research report issued on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the information services provider’s stock. Truist Financial’s target price suggests a potential upside of 8.97% from the company’s current price.

GOOGL has been the subject of several other reports. Royal Bank of Canada reissued an “outperform” rating and set a $155.00 target price on shares of Alphabet in a research note on Wednesday, January 31st. Wedbush reaffirmed an “outperform” rating and set a $175.00 price objective on shares of Alphabet in a research report on Wednesday, April 10th. Wolfe Research upped their price objective on Alphabet from $170.00 to $180.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 31st. Redburn Atlantic upped their price objective on Alphabet from $150.00 to $165.00 and gave the stock a “buy” rating in a research report on Wednesday, January 31st. Finally, Rosenblatt Securities lowered their price objective on Alphabet from $174.00 to $172.00 and set a “buy” rating for the company in a research report on Wednesday, January 31st. Five investment analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $157.97.

Alphabet Trading Up 0.3 %

Shares of NASDAQ GOOGL opened at $156.01 on Wednesday. Alphabet has a twelve month low of $102.63 and a twelve month high of $160.22. 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 fifty day simple moving average of $146.16 and a 200-day simple moving average of $140.40. The stock has a market capitalization of $1.94 trillion, a PE ratio of 26.90, a PEG ratio of 1.42 and a beta of 1.05.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Tuesday, January 30th. The information services provider reported $1.64 EPS for the quarter, topping the consensus estimate of $1.60 by $0.04. Alphabet had a return on equity of 27.22% and a net margin of 24.01%. The firm had revenue of $86.31 billion during the quarter, compared to analysts’ expectations of $70.77 billion. During the same period in the previous year, the firm posted $1.05 EPS. On average, equities analysts forecast that Alphabet will post 6.78 earnings per share for the current year.

Insider Transactions at Alphabet

In other news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $132.70, for a total transaction of $2,985,750.00. Following the completion of the transaction, the chief executive officer now directly owns 2,332,691 shares of the company’s stock, valued at approximately $309,548,095.70. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, CFO Ruth Porat sold 48,077 shares of the company’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $137.22, for a total value of $6,597,125.94. Following the sale, the chief financial officer now owns 1,777,106 shares in the company, valued at approximately $243,854,485.32. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $132.70, for a total value of $2,985,750.00. Following the completion of the sale, the chief executive officer now owns 2,332,691 shares in the company, valued at approximately $309,548,095.70. The disclosure for this sale can be found here. In the last three months, insiders sold 251,339 shares of company stock valued at $36,377,482. Corporate insiders own 0.88% of the company’s stock.

Institutional Investors Weigh In On Alphabet

A number of institutional investors and hedge funds have recently modified their holdings of GOOGL. DC Investments Management LLC acquired a new stake in Alphabet during the 1st quarter valued at $114,000. Bridgefront Capital LLC acquired a new stake in Alphabet during the 1st quarter valued at $225,000. Worth Asset Management LLC acquired a new stake in Alphabet during the 1st quarter valued at $206,000. Eudaimonia Advisors LLC lifted its stake in shares of Alphabet by 15.1% during the 1st quarter. Eudaimonia Advisors LLC now owns 99 shares of the information services provider’s stock worth $275,000 after purchasing an additional 13 shares during the period. Finally, Aspire Capital Advisors LLC purchased a new position in shares of Alphabet during the 1st quarter worth $281,000. 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.