Alphabet (NASDAQ:GOOGL) Price Target Increased to $170.00 by Analysts at Truist Financial

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

Several other research analysts have also issued reports on the stock. Roth Mkm cut their target price on shares of Alphabet from $166.00 to $164.00 and set a buy rating on the stock in a research note on Wednesday, January 31st. JMP Securities reissued a market outperform rating and set a $160.00 target price on shares of Alphabet in a research note on Wednesday, April 10th. Mizuho raised their price objective on shares of Alphabet from $155.00 to $170.00 and gave the company a buy rating in a research note on Wednesday, January 17th. Needham & Company LLC reaffirmed a buy rating and issued a $160.00 price objective on shares of Alphabet in a research note on Wednesday, January 31st. Finally, Barclays dropped their price objective on shares of Alphabet from $180.00 to $173.00 and set an overweight rating on the stock in a research note on Wednesday, January 31st. Five equities research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of Moderate Buy and an average target price of $157.00.

Alphabet Trading Up 0.7 %

GOOGL opened at $155.47 on Wednesday. Alphabet has a twelve month low of $102.63 and a twelve month high of $160.22. 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 fifty day moving average of $145.95 and a 200-day moving average of $140.29. The stock has a market cap of $1.93 trillion, a PE ratio of 26.81, a price-to-earnings-growth ratio of 1.43 and a beta of 1.05.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data 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. The company had revenue of $86.31 billion during the quarter, compared to analysts’ expectations of $70.77 billion. Alphabet had a net margin of 24.01% and a return on equity of 27.22%. During the same period in the prior year, the company posted $1.05 earnings per share. On average, sell-side analysts predict that Alphabet will post 6.78 EPS for the current year.

Insiders Place Their Bets

In other Alphabet news, Director Frances Arnold sold 230 shares of Alphabet stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $154.06, for a total value of $35,433.80. Following the sale, the director now owns 15,104 shares of the company’s stock, valued at $2,326,922.24. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Alphabet news, Director Frances Arnold sold 230 shares of Alphabet stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $154.06, for a total value of $35,433.80. Following the sale, the director now owns 15,104 shares of the company’s stock, valued at $2,326,922.24. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction dated 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 sale, the chief executive officer now directly owns 2,332,691 shares in the company, valued at approximately $309,548,095.70. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 251,339 shares of company stock valued at $36,377,482. Company insiders own 0.88% of the company’s stock.

Institutional Trading of Alphabet

Several hedge funds and other institutional investors have recently modified their holdings of GOOGL. Live Oak Investment Partners bought a new stake in Alphabet during the 4th quarter worth approximately $26,000. Vermillion & White Wealth Management Group LLC bought a new stake in Alphabet during the 4th quarter worth approximately $30,000. Sanctuary Wealth Management L.L.C. bought a new stake in Alphabet during the 4th quarter worth approximately $34,000. Turim 21 Investimentos Ltda. bought a new stake in Alphabet during the 3rd quarter worth approximately $38,000. Finally, DiNuzzo Private Wealth Inc. bought a new stake in Alphabet during the 4th quarter worth approximately $38,000. Institutional investors own 40.03% of the company’s stock.

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.