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

Alphabet (NASDAQ:GOOGL) had its target price hoisted by equities researchers at Citigroup from $168.00 to $190.00 in a research report issued on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the information services provider’s stock. Citigroup’s target price would indicate a potential upside of 21.79% from the stock’s current price.

A number of other equities analysts have also recently issued reports on GOOGL. Wolfe Research upped their target price on Alphabet from $170.00 to $180.00 and gave the stock an “outperform” rating in a report on Wednesday, January 31st. Royal Bank of Canada reiterated an “outperform” rating and issued a $155.00 price target on shares of Alphabet in a research report on Wednesday, January 31st. Needham & Company LLC upped their price target on Alphabet from $160.00 to $210.00 and gave the company a “buy” rating in a research report on Friday. Truist Financial upped their price target on Alphabet from $158.00 to $170.00 and gave the company a “buy” rating in a research report on Wednesday, April 17th. Finally, Canaccord Genuity Group upped their price target on Alphabet from $180.00 to $190.00 and gave the company a “buy” rating in a research report on Wednesday, April 17th. Five research analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $164.41.

Alphabet Price Performance

Alphabet stock opened at $156.00 on Friday. 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 has a 52 week low of $102.63 and a 52 week high of $160.22. The stock has a market capitalization of $1.94 trillion, a P/E ratio of 26.90, a price-to-earnings-growth ratio of 1.47 and a beta of 1.05. The stock has a fifty day moving average of $147.22 and a 200-day moving average of $141.16.

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

Insider Buying and Selling at Alphabet

In other Alphabet 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 of the company’s stock, valued at $4,009,032.80. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CAO Amie Thuener O’toole sold 660 shares of the firm’s stock in a transaction 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 completion of the transaction, the chief accounting officer now directly owns 27,920 shares of the company’s stock, valued at $4,009,032.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $146.29, for a total value of $3,291,525.00. Following the completion of the transaction, the chief executive officer now directly owns 2,377,691 shares of the company’s stock, valued at $347,832,416.39. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 251,339 shares of company stock valued at $36,377,482. Company insiders own 0.88% of the company’s stock.

Institutional Investors Weigh In On Alphabet

Several large investors have recently added to or reduced their stakes in GOOGL. RWQ Financial Management Services Inc. increased its holdings in shares of Alphabet by 8.2% in the fourth quarter. RWQ Financial Management Services Inc. now owns 61,499 shares of the information services provider’s stock worth $8,591,000 after buying an additional 4,664 shares during the period. Ballast Advisors LLC increased its holdings in shares of Alphabet by 9.6% in the third quarter. Ballast Advisors LLC now owns 15,747 shares of the information services provider’s stock worth $2,061,000 after buying an additional 1,385 shares during the period. Quantum Financial Advisors LLC increased its holdings in shares of Alphabet by 8.0% in the third quarter. Quantum Financial Advisors LLC now owns 7,623 shares of the information services provider’s stock worth $998,000 after buying an additional 564 shares during the period. Acadian Asset Management LLC increased its holdings in shares of Alphabet by 2.4% in the third quarter. Acadian Asset Management LLC now owns 4,416,533 shares of the information services provider’s stock worth $577,908,000 after buying an additional 104,366 shares during the period. Finally, NatWest Group plc increased its holdings in shares of Alphabet by 239.0% in the fourth quarter. NatWest Group plc now owns 100,793 shares of the information services provider’s stock worth $14,080,000 after buying an additional 71,057 shares during the period. Institutional investors 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.