Alphabet (NASDAQ:GOOGL) Price Target Raised to $190.00 at Citigroup

Alphabet (NASDAQ:GOOGL) had its target price hoisted by Citigroup from $168.00 to $190.00 in a research note released on Friday, Benzinga reports. The brokerage currently has a buy rating on the information services provider’s stock.

A number of other analysts have also issued reports on GOOGL. Wedbush restated an outperform rating and set a $175.00 target price on shares of Alphabet in a research report on Wednesday, April 10th. Needham & Company LLC increased their price target on shares of Alphabet from $160.00 to $210.00 and gave the stock a buy rating in a research note on Friday. Redburn Atlantic increased their price target on shares of Alphabet from $150.00 to $165.00 and gave the stock a buy rating in a research note on Wednesday, January 31st. Wells Fargo & Company cut their price target on shares of Alphabet from $144.00 to $141.00 and set an equal weight rating on the stock in a research note on Wednesday, April 3rd. Finally, Truist Financial raised their target price on shares of Alphabet from $158.00 to $170.00 and gave the company a buy rating in a research note on Wednesday, April 17th. Five equities 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 stock. Based on data from MarketBeat.com, Alphabet currently has an average rating of Moderate Buy and a consensus price target of $187.82.

Alphabet Trading Up 10.2 %

NASDAQ GOOGL opened at $171.95 on Friday. 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 firm has a 50-day moving average price of $147.85 and a 200 day moving average price of $141.39. Alphabet has a 52-week low of $103.54 and a 52-week high of $174.71. The stock has a market capitalization of $2.14 trillion, a P/E ratio of 26.37, a P/E/G ratio of 1.43 and a beta of 1.05.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Tuesday, January 30th. The information services provider reported $1.64 EPS for the quarter, beating the consensus estimate of $1.60 by $0.04. The business had revenue of $86.31 billion for the quarter, compared to analyst estimates of $70.77 billion. Alphabet had a net margin of 25.90% and a return on equity of 30.01%. During the same period in the prior year, the business earned $1.05 earnings per share. Equities research analysts expect that Alphabet will post 6.79 EPS for the current year.

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Monday, June 10th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.47%. The ex-dividend date is Monday, June 10th. Alphabet’s dividend payout ratio (DPR) is presently 12.27%.

Insider Activity

In other news, Director John L. Hennessy sold 2,100 shares of Alphabet stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $175.76, for a total value of $369,096.00. Following the completion of the transaction, the director now directly owns 5,891 shares of the company’s stock, valued at approximately $1,035,402.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Alphabet news, Director Frances Arnold sold 230 shares of the business’s stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $154.06, for a total transaction of $35,433.80. Following the sale, the director now directly owns 15,104 shares in the company, valued at approximately $2,326,922.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John L. Hennessy sold 2,100 shares of the business’s stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $175.76, for a total transaction of $369,096.00. Following the sale, the director now owns 5,891 shares in the company, valued at $1,035,402.16. The disclosure for this sale can be found here. In the last three months, insiders sold 253,439 shares of company stock valued at $36,746,578. Company insiders own 0.88% of the company’s stock.

Institutional Trading of Alphabet

Several institutional investors and hedge funds have recently added to or reduced their stakes in GOOGL. Vermillion & White Wealth Management Group LLC purchased a new stake in shares of Alphabet in the 4th quarter valued at approximately $30,000. Tributary Capital Management LLC purchased a new stake in shares of Alphabet in the 1st quarter valued at approximately $30,000. DiNuzzo Private Wealth Inc. acquired a new position in Alphabet in the 4th quarter valued at approximately $38,000. Meritage Group LP increased its stake in Alphabet by 1,061.5% in the 3rd 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 during the period. Finally, Macroview Investment Management LLC increased its stake in Alphabet by 165.8% in the 3rd quarter. Macroview Investment Management LLC now owns 319 shares of the information services provider’s stock valued at $42,000 after buying an additional 199 shares during the period. 40.03% of the stock is 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.