Wed Sep 18 07:06:59 UTC 2024: ## Alphabet Stock Upgraded by Analysts, CEO Sells Shares

**New York, NY -** Alphabet (GOOGL) saw its stock rating reiterated as “outperform” by analysts at BMO Capital Markets, with a price target set at $222.00, representing a potential upside of 39.34%. This follows a series of positive ratings from other analysts, including Citigroup, JPMorgan Chase, Jefferies Financial Group, TD Securities, and UBS Group.

Despite the optimistic outlook, Alphabet’s CEO Sundar Pichai sold 22,500 shares of the company’s stock on June 20th for a total value of $3,991,500.00. Pichai now owns 2,213,011 shares in the company. This sale follows a similar transaction by SVP Prabhakar Raghavan, who sold 3,262 shares on July 1st.

Alphabet recently reported strong earnings for the second quarter, exceeding analysts’ expectations with $1.89 earnings per share and $84.74 billion in revenue. Analysts anticipate Alphabet to post 7.64 earnings per share for the current year.

While the stock’s overall rating remains “Moderate Buy,” the recent insider sales have raised some eyebrows. It’s worth noting that insider transactions can be driven by various factors, and not necessarily a negative outlook on the company’s future.

Investors will be closely watching Alphabet’s performance in the coming quarters to see if the company can maintain its momentum and deliver on its growth projections.

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