Alphabet (NASDAQ:GOOGL) Given New $200.00 Price Target at Truist Financial

Alphabet (NASDAQ:GOOGL) had its target price reduced by investment analysts at Truist Financial from $220.00 to $200.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the information services provider’s stock. Truist Financial’s target price points to a potential upside of 33.60% from the company’s previous close.

Several other equities analysts also recently issued reports on GOOGL. Stifel Nicolaus upped their price objective on shares of Alphabet from $200.00 to $225.00 and gave the company a “buy” rating in a research note on Monday, January 13th. Roth Mkm restated a “buy” rating and set a $220.00 price target on shares of Alphabet in a research note on Wednesday, March 19th. DZ Bank downgraded Alphabet from a “buy” rating to a “hold” rating and set a $198.00 price objective for the company. in a report on Thursday, February 6th. Needham & Company LLC reaffirmed a “buy” rating and issued a $178.00 target price on shares of Alphabet in a report on Wednesday. Finally, Wedbush set a $190.00 price target on shares of Alphabet and gave the stock an “outperform” rating in a research note on Tuesday. Ten investment analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and five have issued a strong buy rating to the company. According to data from MarketBeat, Alphabet has an average rating of “Moderate Buy” and a consensus price target of $201.82.

Alphabet Trading Down 2.4 %

NASDAQ GOOGL traded down $3.63 during trading hours on Thursday, reaching $149.70. The company had a trading volume of 4,506,097 shares, compared to its average volume of 32,842,996. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03. The stock has a market capitalization of $1.82 trillion, a P/E ratio of 18.76, a price-to-earnings-growth ratio of 1.34 and a beta of 1.03. The stock has a 50-day moving average of $166.53 and a 200 day moving average of $175.98. Alphabet has a 1-year low of $140.53 and a 1-year high of $207.05.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.12 by $0.03. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. As a group, research analysts anticipate that Alphabet will post 8.9 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $158.56, for a total value of $5,153,200.00. Following the completion of the transaction, the chief executive officer now directly owns 2,717,696 shares in the company, valued at approximately $430,917,877.76. The trade was a 1.18 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Amie Thuener O’toole sold 1,340 shares of the stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $202.08, for a total transaction of $270,787.20. Following the sale, the chief accounting officer now owns 17,848 shares in the company, valued at $3,606,723.84. This represents a 6.98 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 115,663 shares of company stock valued at $20,286,447. 11.55% of the stock is owned by company insiders.

Institutional Investors Weigh In On Alphabet

A number of large investors have recently modified their holdings of GOOGL. Norges Bank acquired a new position in shares of Alphabet during the fourth quarter worth $24,383,677,000. FMR LLC increased its holdings in Alphabet by 9.8% in the 4th quarter. FMR LLC now owns 248,416,916 shares of the information services provider’s stock worth $47,025,322,000 after purchasing an additional 22,100,902 shares in the last quarter. GAMMA Investing LLC increased its holdings in Alphabet by 16,993.2% in the 1st quarter. GAMMA Investing LLC now owns 16,062,457 shares of the information services provider’s stock worth $2,483,898,000 after purchasing an additional 15,968,487 shares in the last quarter. Northern Trust Corp raised its position in Alphabet by 17.0% in the fourth quarter. Northern Trust Corp now owns 69,616,854 shares of the information services provider’s stock valued at $13,178,470,000 after purchasing an additional 10,135,430 shares during the last quarter. Finally, Capital Research Global Investors boosted its stake in shares of Alphabet by 16.2% during the fourth quarter. Capital Research Global Investors now owns 72,033,086 shares of the information services provider’s stock valued at $13,635,878,000 after purchasing an additional 10,037,685 shares in the last quarter. Institutional investors and hedge funds 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.