Alphabet (NASDAQ:GOOGL) Given New $229.00 Price Target at Citigroup

Alphabet (NASDAQ:GOOGL) had its target price lowered by stock analysts at Citigroup from $232.00 to $229.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the information services provider’s stock. Citigroup’s price target suggests a potential upside of 19.52% from the stock’s previous close.

Other equities research analysts have also recently issued reports about the stock. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $210.00 target price on shares of Alphabet in a report on Thursday, December 12th. Wolfe Research upped their target price on shares of Alphabet from $220.00 to $230.00 and gave the company an “outperform” rating in a report on Friday, January 3rd. Robert W. Baird reaffirmed an “outperform” rating and issued a $205.00 target price on shares of Alphabet in a report on Tuesday, December 10th. Wedbush increased their price target on shares of Alphabet from $210.00 to $220.00 and gave the company an “outperform” rating in a report on Monday, January 6th. Finally, Wells Fargo & Company increased their price target on shares of Alphabet from $187.00 to $190.00 and gave the company an “equal weight” rating in a report on Monday, January 13th. Ten analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $210.62.

Alphabet Trading Up 0.1 %

Alphabet stock opened at $191.60 on Wednesday. The firm has a 50-day moving average of $190.83 and a 200-day moving average of $174.52. Alphabet has a one year low of $130.66 and a one year high of $207.05. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95. The company has a market cap of $2.35 trillion, a price-to-earnings ratio of 25.41, a P/E/G ratio of 1.31 and a beta of 0.99.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, topping analysts’ consensus estimates of $2.12 by $0.03. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. On average, equities analysts expect that Alphabet will post 8.02 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CAO Amie Thuener O’toole sold 1,340 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $202.08, for a total value of $270,787.20. Following the sale, the chief accounting officer now owns 17,848 shares of the company’s stock, valued at $3,606,723.84. The trade was a 6.98 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $176.67, for a total transaction of $3,975,075.00. Following the completion of the sale, the chief executive officer now directly owns 2,061,806 shares in the company, valued at approximately $364,259,266.02. This trade represents a 1.08 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 89,529 shares of company stock worth $16,600,078. 11.55% of the stock is owned by insiders.

Institutional Trading of Alphabet

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Vestmark Advisory Solutions Inc. grew its stake in Alphabet by 22.7% in the 4th quarter. Vestmark Advisory Solutions Inc. now owns 30,616 shares of the information services provider’s stock worth $5,796,000 after buying an additional 5,665 shares in the last quarter. Blue Barn Wealth LLC grew its stake in Alphabet by 11.2% in the 4th quarter. Blue Barn Wealth LLC now owns 2,706 shares of the information services provider’s stock worth $512,000 after buying an additional 272 shares in the last quarter. Freestone Capital Holdings LLC grew its stake in Alphabet by 0.7% in the 4th quarter. Freestone Capital Holdings LLC now owns 262,704 shares of the information services provider’s stock worth $49,730,000 after buying an additional 1,705 shares in the last quarter. Ethos Financial Group LLC grew its stake in Alphabet by 21.9% in the 4th quarter. Ethos Financial Group LLC now owns 9,387 shares of the information services provider’s stock worth $1,777,000 after buying an additional 1,686 shares in the last quarter. Finally, Carmel Capital Partners LLC grew its stake in Alphabet by 14.6% in the 4th quarter. Carmel Capital Partners LLC now owns 1,405 shares of the information services provider’s stock worth $266,000 after buying an additional 179 shares in the last quarter. 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.