Alphabet (NASDAQ:GOOGL) Price Target Increased to $190.00 by Analysts at Truist Financial

Alphabet (NASDAQ:GOOGL) had its target price hoisted by stock analysts at Truist Financial from $170.00 to $190.00 in a report released on Friday, Benzinga reports. The firm presently has a “buy” rating on the information services provider’s stock. Truist Financial’s price objective would suggest a potential upside of 10.65% from the stock’s current price.

Other equities research analysts have also issued reports about the company. UBS Group upped their price target on Alphabet from $150.00 to $166.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 16th. Rosenblatt Securities upped their price target on Alphabet from $172.00 to $182.00 and gave the stock a “buy” rating in a research note on Friday. Evercore ISI upped their price target on Alphabet from $160.00 to $220.00 and gave the stock an “outperform” rating in a research note on Friday. Barclays upped their price target on Alphabet from $173.00 to $200.00 and gave the stock an “overweight” rating in a research note on Friday. Finally, Stifel Nicolaus upped their price target on Alphabet from $174.00 to $196.00 and gave the stock a “buy” rating in a research note on Friday. Five research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Alphabet has an average rating of “Moderate Buy” and an average price target of $180.24.

Alphabet Trading Up 10.1 %

NASDAQ GOOGL traded up $15.72 during trading hours on Friday, hitting $171.72. 40,757,775 shares of the company’s stock were exchanged, compared to its average volume of 30,335,750. The business’s 50 day moving average is $147.22 and its 200-day moving average is $141.16. Alphabet has a 12-month low of $103.54 and a 12-month high of $174.71. The firm has a market capitalization of $2.13 trillion, a P/E ratio of 29.62, a price-to-earnings-growth ratio of 1.47 and a beta of 1.05. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.10 and a current ratio of 2.10.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Tuesday, January 30th. The information services provider reported $1.64 earnings per share 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 for the quarter, compared to the consensus estimate of $70.77 billion. During the same period in the prior year, the business posted $1.05 earnings per share. As a group, analysts anticipate that Alphabet will post 6.78 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CAO Amie Thuener O’toole sold 660 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $143.59, for a total value of $94,769.40. Following the sale, the chief accounting officer now owns 27,920 shares of the company’s stock, valued at approximately $4,009,032.80. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, Director Frances Arnold sold 230 shares of Alphabet stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $154.06, for a total transaction of $35,433.80. Following the transaction, the director now directly owns 15,104 shares in the company, valued at approximately $2,326,922.24. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CAO Amie Thuener O’toole sold 660 shares of Alphabet stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $143.59, for a total value of $94,769.40. Following the transaction, the chief accounting officer now owns 27,920 shares in the company, valued at $4,009,032.80. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 251,339 shares of company stock valued at $36,377,482. Insiders own 0.88% of the company’s stock.

Hedge Funds Weigh In On Alphabet

Several hedge funds have recently modified their holdings of GOOGL. Tributary Capital Management LLC purchased a new position in shares of Alphabet during the first quarter valued at $30,000. Vermillion & White Wealth Management Group LLC purchased a new position in shares of Alphabet during the fourth quarter valued at $30,000. DiNuzzo Private Wealth Inc. purchased a new position in shares of Alphabet during the fourth quarter valued at $38,000. Richardson Capital Management LLC grew its holdings in shares of Alphabet by 87.5% during the first quarter. Richardson Capital Management LLC now owns 300 shares of the information services provider’s stock valued at $45,000 after buying an additional 140 shares in the last quarter. Finally, Meritage Group LP grew its holdings in shares of Alphabet by 1,061.5% during the third quarter. Meritage Group LP now owns 302 shares of the information services provider’s stock valued at $40,000 after buying an additional 276 shares in the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Company Profile

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.