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

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

Other research analysts have also recently issued research reports about the stock. Mizuho increased their target price on shares of Alphabet from $170.00 to $190.00 and gave the stock a buy rating in a report on Friday. Rosenblatt Securities increased their target price on shares of Alphabet from $172.00 to $182.00 and gave the stock a buy rating in a report on Friday. Wolfe Research increased their target price on shares of Alphabet from $170.00 to $180.00 and gave the stock an outperform rating in a report on Wednesday, January 31st. JMP Securities reissued a market outperform rating and issued a $160.00 target price on shares of Alphabet in a report on Wednesday, April 10th. Finally, KeyCorp increased their target price on shares of Alphabet from $165.00 to $175.00 and gave the stock an overweight rating in a report on Monday, April 22nd. Five analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of Moderate Buy and an average price target of $187.82.

Alphabet Price Performance

NASDAQ:GOOGL opened at $171.95 on Friday. Alphabet has a one year low of $103.54 and a one year high of $174.71. The company has a market cap 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. The firm’s fifty day moving average price is $147.85 and its two-hundred day moving average price is $141.39. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.10 and a quick ratio of 2.10.

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

Alphabet Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Monday, June 10th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.47%. The ex-dividend date is Monday, June 10th. Alphabet’s dividend payout ratio is currently 12.27%.

Insider Buying and Selling

In related news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $132.70, for a total value of $2,985,750.00. Following the transaction, the chief executive officer now directly owns 2,332,691 shares in the company, valued at approximately $309,548,095.70. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $132.70, for a total transaction of $2,985,750.00. Following the transaction, the chief executive officer now directly owns 2,332,691 shares in the company, valued at approximately $309,548,095.70. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Ruth Porat sold 48,077 shares of the firm’s stock in a transaction on Friday, March 8th. The shares were sold at an average price of $137.22, for a total value of $6,597,125.94. Following the transaction, the chief financial officer now owns 1,777,106 shares in the company, valued at $243,854,485.32. The disclosure for this sale can be found here. Insiders have sold a total of 253,439 shares of company stock worth $36,746,578 in the last ninety days. Corporate insiders own 0.88% of the company’s stock.

Institutional Investors Weigh In On Alphabet

Large investors have recently added to or reduced their stakes in the company. Tributary Capital Management LLC purchased a new position in Alphabet during the 1st quarter valued at about $30,000. Vermillion & White Wealth Management Group LLC purchased a new position in Alphabet during the 4th quarter valued at about $30,000. DiNuzzo Private Wealth Inc. purchased a new position in Alphabet during the 4th quarter valued at about $38,000. Richardson Capital Management LLC grew its holdings in Alphabet by 87.5% during the 1st quarter. Richardson Capital Management LLC now owns 300 shares of the information services provider’s stock valued at $45,000 after buying an additional 140 shares in the last quarter. Finally, Meritage Group LP boosted its position in shares of Alphabet by 1,061.5% during the 3rd quarter. Meritage Group LP now owns 302 shares of the information services provider’s stock valued at $40,000 after acquiring an additional 276 shares during the last quarter. Hedge funds and other 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.