Alphabet (NASDAQ:GOOGL) Given New $203.00 Price Target at Citigroup

Alphabet (NASDAQ:GOOGL - Get Free Report) had its price objective lifted by analysts at Citigroup from $200.00 to $203.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has a "buy" rating on the information services provider's stock. Citigroup's price target would suggest a potential upside of 20.94% from the stock's current price.

Other analysts have also recently issued research reports about the stock. Susquehanna cut their price target on shares of Alphabet from $225.00 to $220.00 and set a "positive" rating for the company in a research note on Friday, April 25th. Westpark Capital reiterated a "buy" rating and issued a $210.00 target price on shares of Alphabet in a research note on Thursday, May 8th. Oppenheimer lifted their price target on Alphabet from $185.00 to $200.00 and gave the stock an "outperform" rating in a report on Friday, April 25th. UBS Group set a $195.00 price objective on Alphabet in a research note on Friday, April 25th. Finally, JPMorgan Chase & Co. reduced their target price on Alphabet from $220.00 to $180.00 and set an "overweight" rating for the company in a research note on Tuesday, April 8th. Ten research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and four have given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $199.83.

Alphabet Stock Up 1.6%

Shares of GOOGL traded up $2.66 during midday trading on Tuesday, hitting $167.85. The stock had a trading volume of 15,314,235 shares, compared to its average volume of 30,643,265. The firm has a market cap of $2.04 trillion, a price-to-earnings ratio of 18.66, a price-to-earnings-growth ratio of 1.06 and a beta of 1.01. The company has a 50 day simple moving average of $164.89 and a two-hundred day simple moving average of $174.66. Alphabet has a twelve month low of $140.53 and a twelve month high of $207.05. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.77 and a quick ratio of 1.77.

Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, topping the consensus estimate of $2.02 by $0.79. The company had revenue of $76.49 billion during the quarter, compared to analysts' expectations of $89.30 billion. Alphabet had a net margin of 30.86% and a return on equity of 34.54%. During the same period last year, the business earned $1.89 EPS. On average, analysts anticipate that Alphabet will post 8.9 EPS for the current year.

Insider Buying and Selling at Alphabet

In other news, CAO Amie Thuener O'toole sold 673 shares of the firm's stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $155.33, for a total transaction of $104,537.09. Following the completion of the sale, the chief accounting officer now owns 15,303 shares of the company's stock, valued at $2,377,014.99. This trade represents a 4.21% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction on Wednesday, June 18th. The stock was sold at an average price of $176.68, for a total transaction of $5,742,100.00. Following the transaction, the chief executive officer now directly owns 2,555,196 shares in the company, valued at approximately $451,452,029.28. This represents a 1.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 228,070 shares of company stock valued at $37,745,632. 11.55% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Alphabet

Institutional investors have recently modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of Alphabet by 2.9% in the first quarter. Vanguard Group Inc. now owns 509,826,331 shares of the information services provider's stock worth $78,839,544,000 after purchasing an additional 14,307,345 shares during the last quarter. FMR LLC grew its holdings in Alphabet by 9.8% during the fourth quarter. FMR LLC now owns 248,416,916 shares of the information services provider's stock worth $47,025,322,000 after buying an additional 22,100,902 shares in the last quarter. Norges Bank purchased a new stake in Alphabet in the 4th quarter valued at $24,383,677,000. Price T Rowe Associates Inc. MD lifted its stake in Alphabet by 8.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 98,638,127 shares of the information services provider's stock valued at $18,672,198,000 after acquiring an additional 7,574,417 shares in the last quarter. Finally, Capital Research Global Investors boosted its holdings in Alphabet by 16.2% during the 4th quarter. Capital Research Global Investors now owns 72,033,086 shares of the information services provider's stock worth $13,635,878,000 after acquiring an additional 10,037,685 shares during the last quarter. 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.

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