Alphabet (NASDAQ:GOOGL) PT Raised to $190.00

Alphabet (NASDAQ:GOOGL) had its target price hoisted by Truist Financial from $170.00 to $190.00 in a research note issued on Friday, Benzinga reports. The firm presently has a “buy” rating on the information services provider’s stock. Truist Financial’s target price would suggest a potential upside of 10.50% from the company’s current price.

Other analysts have also recently issued reports about the stock. Susquehanna increased their target price on shares of Alphabet from $150.00 to $170.00 and gave the stock a “positive” rating in a report on Wednesday, January 31st. Canaccord Genuity Group increased their target price on shares of Alphabet from $190.00 to $210.00 and gave the stock a “buy” rating in a report on Friday. JMP Securities increased their target price on shares of Alphabet from $160.00 to $200.00 and gave the stock a “market outperform” rating in a report on Friday. Needham & Company LLC increased their target price on shares of Alphabet from $160.00 to $210.00 and gave the stock a “buy” rating in a report on Friday. Finally, Rosenblatt Securities increased their target price on shares of Alphabet from $172.00 to $182.00 and gave the stock a “buy” rating in a report on Friday. Five equities research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Alphabet presently has a consensus rating of “Moderate Buy” and an average price target of $187.82.

Alphabet Trading Up 10.2 %

GOOGL opened at $171.95 on Friday. The stock has a market capitalization of $2.14 trillion, a PE ratio of 26.37, a P/E/G ratio of 1.43 and a beta of 1.05. The firm’s fifty day moving average price is $147.85 and its 200 day moving average price is $141.42. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.10 and a quick ratio of 2.10. Alphabet has a 12-month low of $103.54 and a 12-month high of $174.71.

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

Insider Buying and Selling at Alphabet

In other Alphabet news, CFO Ruth Porat sold 48,077 shares of the company’s stock in a transaction dated 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 sale, the chief financial officer now directly owns 1,777,106 shares of the company’s stock, valued at $243,854,485.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Alphabet news, CFO Ruth Porat sold 48,077 shares of the company’s stock in a transaction dated 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 sale, the chief financial officer now directly owns 1,777,106 shares of the company’s stock, valued at $243,854,485.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director John L. Hennessy sold 2,100 shares of the company’s stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $175.76, for a total transaction of $369,096.00. Following the sale, the director now directly owns 5,891 shares of the company’s stock, valued at $1,035,402.16. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 253,439 shares of company stock valued at $36,746,578. 0.88% of the stock is currently owned by corporate insiders.

Institutional Trading of Alphabet

A number of hedge funds have recently made changes to their positions in GOOGL. Norges Bank purchased a new stake in shares of Alphabet in the fourth quarter worth approximately $15,441,917,000. FMR LLC lifted its position in shares of Alphabet by 5.6% in the third quarter. FMR LLC now owns 227,317,469 shares of the information services provider’s stock worth $29,746,764,000 after purchasing an additional 12,070,681 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Alphabet by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 493,810,251 shares of the information services provider’s stock worth $68,980,354,000 after purchasing an additional 6,374,756 shares in the last quarter. Public Employees Retirement Association of Colorado lifted its position in shares of Alphabet by 39,754.9% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 6,025,667 shares of the information services provider’s stock worth $841,725,000 after purchasing an additional 6,010,548 shares in the last quarter. Finally, International Assets Investment Management LLC lifted its position in shares of Alphabet by 4,894.1% in the fourth quarter. International Assets Investment Management LLC now owns 5,445,396 shares of the information services provider’s stock worth $7,606,670,000 after purchasing an additional 5,336,359 shares in the last quarter. 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.