Citi analyst Mark May raised his price target for Google (GOOGL) to $781 after analyzing the company's new Alphabet structure. May says his new target uses a sum-of-the-parts methodology that ascribes little value to Google's "Moonshot" projects. New segment-level disclosure in January 2016 will show the profitability and growth of the core Google as well as the magnitude of the investments in its Moonshots, May tells investors in a research note. He keeps a Buy rating on the stock. May this morning also cut his price target for Neutral-rated Twitter (TWTR) to $30.

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In a regulatory filing, Alphabet disclosed that its CEO Sundar Pichai sold 22.5K shares of common stock on April 17th in a total transaction size of $3.54M.

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Truist raised the firm's price target on Alphabet to $170 from $158 and keeps a Buy rating on the shares. The firm is expecting the company to report "solid" Q1 results driven by "healthy" user engagement that continues to drive more ad spending across Search and Social, helped by an ongoing recovery in pricing. Conversations with digital ad agencies suggest that the momentum seen in Q4 was sustained in Q1 across Search and YouTube, though the management's commentary for Q2 may be cautious given the macro environment, with continued emphasis on investments in Cloud and AI, the analyst tells investors in a research note.

The U.K. plans to hold talks this month with Apple (AAPL), Meta (META), Alphabet (GOOGL) and others to push a voluntary charter granting parents more control of social media use by young teens, Bloomberg's Ellen Milligan reports. According to people familiar with the matter, ministers want to launch a consultation later this month to gauge ways of limiting the potential harm to children caused by social media, and the proposed voluntary charter may involve tech firms agreeing to alert parents when their children are repeatedly looking up disturbing content. Reference Link