Alphabet's (GOOGL) Buy Rating Reiterated at Truist Financial

Alphabet (NASDAQ:GOOGL - Get Free Report)'s stock had its "buy" rating reaffirmed by investment analysts at Truist Financial in a research report issued on Wednesday,Benzinga reports. They currently have a $200.00 price target on the information services provider's stock. Truist Financial's price target points to a potential upside of 11.69% from the stock's current price.

Other equities analysts have also recently issued research reports about the company. JMP Securities upgraded Alphabet from a "market perform" rating to a "market outperform" rating and set a $220.00 price target for the company in a report on Friday, June 27th. Westpark Capital restated a "buy" rating and issued a $210.00 target price on shares of Alphabet in a research note on Thursday, May 8th. Bank of America lifted their price target on shares of Alphabet from $185.00 to $200.00 and gave the stock a "buy" rating in a research note on Friday, April 25th. Citizens Jmp upgraded shares of Alphabet from a "market perform" rating to an "outperform" rating and set a $220.00 price objective on the stock in a report on Friday, June 27th. Finally, BMO Capital Markets restated an "outperform" rating and set a $200.00 target price (down from $230.00) on shares of Alphabet in a research note on Thursday, April 17th. Ten research analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and four have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $199.95.

Alphabet Trading Up 0.2%

Shares of GOOGL traded up $0.44 during mid-day trading on Wednesday, reaching $179.08. The company had a trading volume of 21,689,729 shares, compared to its average volume of 31,547,766. Alphabet has a fifty-two week low of $140.53 and a fifty-two week high of $207.05. The firm has a fifty day simple moving average of $168.70 and a 200-day simple moving average of $173.97. The stock has a market cap of $2.17 trillion, a price-to-earnings ratio of 19.96, a price-to-earnings-growth ratio of 1.26 and a beta of 1.00. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 0.03.

Alphabet (NASDAQ:GOOGL - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 EPS 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 analyst estimates of $89.30 billion. Alphabet had a return on equity of 34.54% and a net margin of 30.86%. During the same period in the prior year, the firm posted $1.89 earnings per share. On average, sell-side analysts anticipate that Alphabet will post 8.9 EPS for the current fiscal year.

Insider Buying and Selling at Alphabet

In related news, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction on Wednesday, May 21st. The stock was sold at an average price of $170.87, for a total transaction of $5,553,275.00. Following the completion of the sale, the chief executive officer directly owned 2,620,196 shares in the company, valued at approximately $447,712,890.52. This trade represents a 1.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kavitark Ram Shriram sold 10,500 shares of the business's stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total value of $1,837,500.00. Following the completion of the transaction, the director owned 261,966 shares in the company, valued at $45,844,050. This trade represents a 3.85% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 215,643 shares of company stock valued at $36,330,928 in the last 90 days. 11.64% of the stock is currently owned by corporate insiders.

Institutional Trading of Alphabet

A number of institutional investors have recently added to or reduced their stakes in GOOGL. Guardian Wealth Management Inc. boosted its position in Alphabet by 242.9% during the first quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider's stock worth $26,000 after purchasing an additional 119 shares during the period. von Borstel & Associates Inc. acquired a new stake in shares of Alphabet in the first quarter worth $28,000. IMA Advisory Services Inc. bought a new stake in shares of Alphabet during the 1st quarter worth $28,000. Compass Planning Associates Inc bought a new stake in shares of Alphabet during the 4th quarter worth $30,000. Finally, NBZ Investment Advisors LLC grew its stake in Alphabet by 85.7% in the 1st quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider's stock valued at $30,000 after buying an additional 90 shares during the last quarter. 40.03% of the stock is currently 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.