Alphabet Inc. (GOOG) Given Buy Rating at Cantor Fitzgerald
Alphabet Inc. (NASDAQ:GOOG)‘s stock had its “buy” rating reissued by equities research analysts at Cantor Fitzgerald in a research report issued to clients and investors on Wednesday. They presently have a $1,000.00 price objective on the stock. Cantor Fitzgerald’s target price would suggest a potential upside of 29.02% from the stock’s previous close.
GOOG has been the topic of several other research reports. Credit Suisse Group AG reissued an “outperform” rating and set a $940.00 target price (up previously from $920.00) on shares of Alphabet in a report on Friday, July 29th. Evercore ISI reissued a “buy” rating and set a $830.00 target price (down previously from $950.00) on shares of Alphabet in a report on Thursday, June 23rd. Atlantic Securities set a $910.00 price target on shares of Alphabet and gave the stock a “buy” rating in a research report on Friday, July 29th. Vetr upgraded shares of Alphabet from a “buy” rating to a “strong-buy” rating and set a $760.24 price target on the stock in a research report on Monday, June 27th. Finally, JPMorgan Chase & Co. set a $920.00 price target on shares of Alphabet and gave the stock a “buy” rating in a research report on Tuesday, July 12th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, forty-five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Alphabet presently has a consensus rating of “Buy” and an average target price of $926.55.
Shares of Alphabet (NASDAQ:GOOG) traded down 0.23% on Wednesday, hitting $775.08. The company’s stock had a trading volume of 933,158 shares. Alphabet has a 52 week low of $639.01 and a 52 week high of $789.87. The company has a market cap of $532.69 billion, a price-to-earnings ratio of 30.03 and a beta of 1.03. The stock’s 50 day moving average is $773.14 and its 200-day moving average is $740.29.
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Alphabet (NASDAQ:GOOG) last released its quarterly earnings results on Thursday, July 28th. The company reported $8.42 earnings per share for the quarter, beating the Zacks’ consensus estimate of $8.03 by $0.39. The company had revenue of $21.50 billion for the quarter, compared to analysts’ expectations of $20.74 billion. Alphabet had a return on equity of 14.74% and a net margin of 22.00%. The business’s revenue for the quarter was up 21.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $6.99 earnings per share. On average, equities research analysts anticipate that Alphabet will post $34.14 earnings per share for the current year.
In other news, CEO Lawrence Page sold 33,332 shares of the stock in a transaction on Monday, July 25th. The shares were sold at an average price of $748.02, for a total transaction of $24,933,002.64. Following the completion of the sale, the chief executive officer now owns 30,666 shares of the company’s stock, valued at $22,938,781.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Sundar Pichai sold 4,000 shares of the stock in a transaction on Wednesday, October 5th. The stock was sold at an average price of $781.81, for a total transaction of $3,127,240.00. Following the sale, the chief executive officer now directly owns 3,231 shares of the company’s stock, valued at approximately $2,526,028.11. The disclosure for this sale can be found here. 13.92% of the stock is currently owned by company insiders.
Large investors have recently modified their holdings of the company. Mesirow Financial Investment Management Equity Management bought a new stake in shares of Alphabet during the second quarter valued at about $121,000. Whitnell & Co. increased its stake in shares of Alphabet by 20.6% in the second quarter. Whitnell & Co. now owns 187 shares of the company’s stock valued at $129,000 after buying an additional 32 shares in the last quarter. D. Scott Neal Inc. increased its stake in shares of Alphabet by 2,000.0% in the second quarter. D. Scott Neal Inc. now owns 210 shares of the company’s stock valued at $145,000 after buying an additional 200 shares in the last quarter. Pathstone Family Office LLC increased its stake in shares of Alphabet by 7.2% in the second quarter. Pathstone Family Office LLC now owns 222 shares of the company’s stock valued at $154,000 after buying an additional 15 shares in the last quarter. Finally, Cacti Asset Management LLC bought a new stake in shares of Alphabet during the second quarter valued at about $159,000. 34.39% of the stock is owned by institutional investors.
Alphabet Inc is a holding company. The Company holds interests in Google Inc (Google). The Company’s segments include Google and Other Bets. Google segment includes Internet products, such as Search, Ads, Commerce, Maps, YouTube, Apps, Cloud, Android, Chrome, Google Play, and hardware products, including Chromecast, Chromebooks and Nexus, which are sold by the Company.
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