Alphabet (NASDAQ:GOOGL) Given New $195.00 Price Target at Citigroup

Alphabet (NASDAQ:GOOGL) had its price target decreased by investment analysts at Citigroup from $229.00 to $195.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the information services provider’s stock. Citigroup’s price target indicates a potential upside of 27.36% from the stock’s current price.

GOOGL has been the topic of several other research reports. Westpark Capital raised Alphabet to a “strong-buy” rating in a report on Tuesday, April 1st. JPMorgan Chase & Co. cut their target price on Alphabet from $220.00 to $180.00 and set an “overweight” rating on the stock in a research report on Tuesday. Mizuho lowered their price target on Alphabet from $230.00 to $205.00 and set an “outperform” rating for the company in a report on Wednesday. Bank of America restated a “buy” rating and set a $210.00 price objective on shares of Alphabet in a research report on Monday, December 23rd. Finally, The Goldman Sachs Group reiterated a “buy” rating and set a $210.00 price target on shares of Alphabet in a research note on Thursday, December 12th. Ten analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and five have given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $206.51.

Alphabet Stock Down 3.5 %

Alphabet stock traded down $5.60 during mid-day trading on Thursday, reaching $153.11. 13,676,166 shares of the company’s stock were exchanged, compared to its average volume of 28,024,377. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03. Alphabet has a twelve month low of $140.53 and a twelve month high of $207.05. The company has a market cap of $1.87 trillion, a P/E ratio of 19.04, a P/E/G ratio of 1.34 and a beta of 1.03. The company has a fifty day moving average of $170.47 and a 200-day moving average of $176.32.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. Sell-side analysts expect that Alphabet will post 8.9 EPS for the current year.

Insider Buying and Selling

In other news, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $158.56, for a total transaction of $5,153,200.00. Following the sale, the chief executive officer now owns 2,717,696 shares in the company, valued at $430,917,877.76. This trade represents a 1.18 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Amie Thuener O’toole sold 673 shares of Alphabet stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $155.33, for a total transaction of $104,537.09. Following the sale, the chief accounting officer now directly owns 15,303 shares in the company, valued at $2,377,014.99. This trade represents a 4.21 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 119,797 shares of company stock valued at $21,089,470. 11.55% of the stock is currently owned by corporate insiders.

Institutional Trading of Alphabet

Hedge funds and other institutional investors have recently bought and sold shares of the company. Bennett Selby Investments LP boosted its stake in shares of Alphabet by 4.0% during the 4th quarter. Bennett Selby Investments LP now owns 1,354 shares of the information services provider’s stock worth $256,000 after acquiring an additional 52 shares in the last quarter. Macroview Investment Management LLC boosted its position in Alphabet by 4.2% during the fourth quarter. Macroview Investment Management LLC now owns 1,293 shares of the information services provider’s stock worth $245,000 after purchasing an additional 52 shares during the period. Conrad Siegel Investment Advisors Inc. boosted its position in Alphabet by 0.5% during the fourth quarter. Conrad Siegel Investment Advisors Inc. now owns 9,845 shares of the information services provider’s stock worth $1,864,000 after purchasing an additional 53 shares during the period. Cornerstone Planning Group LLC grew its holdings in Alphabet by 2.3% during the fourth quarter. Cornerstone Planning Group LLC now owns 2,381 shares of the information services provider’s stock valued at $457,000 after purchasing an additional 53 shares during the last quarter. Finally, Addison Advisors LLC raised its position in shares of Alphabet by 0.7% in the fourth quarter. Addison Advisors LLC now owns 7,527 shares of the information services provider’s stock valued at $1,425,000 after purchasing an additional 53 shares during the period. 40.03% of the stock is owned by institutional investors.

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.