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

Alphabet (NASDAQ:GOOGL) had its price target hoisted by equities researchers at Truist Financial from $170.00 to $190.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm presently has a “buy” rating on the information services provider’s stock. Truist Financial’s price target points to a potential upside of 10.65% from the stock’s current price.

GOOGL has been the topic of a number of other research reports. Needham & Company LLC boosted their price target on Alphabet from $160.00 to $210.00 and gave the stock a “buy” rating in a research note on Friday. Citigroup upped their target price on Alphabet from $168.00 to $190.00 and gave the company a “buy” rating in a research report on Friday. Barclays upped their target price on Alphabet from $173.00 to $200.00 and gave the company an “overweight” rating in a research report on Friday. Robert W. Baird upped their target price on Alphabet from $160.00 to $200.00 and gave the company an “outperform” rating in a research report on Friday. Finally, Evercore ISI upped their target price on Alphabet from $160.00 to $220.00 and gave the company an “outperform” rating in a research report on Friday. Five research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, Alphabet presently has a consensus rating of “Moderate Buy” and a consensus price target of $180.24.

Alphabet Stock Up 10.1 %

Alphabet stock traded up $15.72 during trading hours on Friday, reaching $171.72. The stock had a trading volume of 40,757,775 shares, compared to its average volume of 30,335,750. The company has a market cap of $2.13 trillion, a price-to-earnings ratio of 29.62, a PEG ratio of 1.47 and a beta of 1.05. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.10 and a quick ratio of 2.10. The business’s 50 day moving average price is $147.22 and its 200-day moving average price is $141.16. Alphabet has a 52 week low of $103.54 and a 52 week high of $174.71.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Tuesday, January 30th. The information services provider reported $1.64 EPS for the quarter, topping analysts’ consensus estimates of $1.60 by $0.04. The business had revenue of $86.31 billion during the quarter, compared to the consensus estimate 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 previous year, the company posted $1.05 earnings per share. Sell-side analysts anticipate that Alphabet will post 6.78 EPS for the current year.

Insider Buying and Selling at Alphabet

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

Hedge Funds Weigh In On Alphabet

Institutional investors have recently bought and sold shares of the company. Chico Wealth RIA purchased a new position in shares of Alphabet in the 3rd quarter valued at about $330,000. Summit Global Investments boosted its stake in shares of Alphabet by 67.7% in the 3rd quarter. Summit Global Investments now owns 241,463 shares of the information services provider’s stock valued at $31,598,000 after buying an additional 97,466 shares during the period. Prentice Wealth Management LLC boosted its stake in shares of Alphabet by 18.1% in the 3rd quarter. Prentice Wealth Management LLC now owns 7,140 shares of the information services provider’s stock valued at $934,000 after buying an additional 1,096 shares during the period. Sunflower Bank N.A. boosted its stake in shares of Alphabet by 6.3% in the 3rd quarter. Sunflower Bank N.A. now owns 5,951 shares of the information services provider’s stock valued at $779,000 after buying an additional 353 shares during the period. Finally, David J Yvars Group boosted its stake in shares of Alphabet by 10.3% in the 3rd quarter. David J Yvars Group now owns 4,170 shares of the information services provider’s stock valued at $546,000 after buying an additional 390 shares during the period. 40.03% of the stock is owned by institutional investors and hedge funds.

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.