Alphabet Inc. (GOOG) Receives “Buy” Rating from Deutsche Bank AG
Alphabet Inc. (NASDAQ:GOOG)‘s stock had its “buy” rating reaffirmed by equities research analysts at Deutsche Bank AG in a research note issued on Wednesday. They presently have a $1,050.00 price objective on the stock. Deutsche Bank AG’s price objective would indicate a potential upside of 33.56% from the company’s previous close.
A number of other equities analysts have also commented on GOOG. Cantor Fitzgerald restated a “buy” rating on shares of Alphabet in a research report on Friday, July 29th. RBC Capital Markets restated an “outperform” rating and issued a $1,025.00 price objective (up from $1,000.00) on shares of Alphabet in a research report on Friday, September 30th. SunTrust Banks Inc. restated a “buy” rating and issued a $900.00 price objective (up from $850.00) on shares of Alphabet in a research report on Sunday, July 31st. Vetr lowered shares of Alphabet from a “strong-buy” rating to a “buy” rating and set a $770.61 price objective for the company. in a research report on Tuesday, June 21st. Finally, Credit Agricole SA restated a “buy” rating and issued a $990.00 price objective (up from $970.00) on shares of Alphabet in a research report on Sunday, July 31st. One analyst has rated the stock with a sell rating, one has given a hold rating, forty-five have assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $926.55.
Alphabet (NASDAQ:GOOG) traded up 0.39% during trading on Wednesday, reaching $786.14. 935,138 shares of the company were exchanged. Alphabet has a one year low of $641.73 and a one year high of $792.28. The firm’s 50-day moving average is $773.75 and its 200 day moving average is $740.98. The company has a market capitalization of $540.29 billion, a P/E ratio of 30.46 and a beta of 1.03.
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Alphabet (NASDAQ:GOOG) last issued its earnings results on Thursday, July 28th. The company reported $8.42 earnings per share for the quarter, topping analysts’ consensus estimates of $8.03 by $0.39. The firm earned $21.50 billion during the quarter, compared to analyst estimates of $20.74 billion. Alphabet had a net margin of 22.00% and a return on equity of 14.74%. The company’s quarterly revenue was up 21.3% on a year-over-year basis. During the same quarter last year, the business earned $6.99 earnings per share. On average, analysts anticipate that Alphabet will post $34.14 EPS for the current fiscal year.
In other news, CEO Sundar Pichai sold 4,000 shares of the stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now directly owns 3,231 shares in the company, valued at approximately $2,526,028.11. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Lawrence Page sold 33,332 shares of the stock in a transaction that occurred on Tuesday, July 26th. The shares were sold at an average price of $716.51, for a total value of $23,882,711.32. Following the transaction, the chief executive officer now owns 30,666 shares of the company’s stock, valued at $21,972,495.66. The disclosure for this sale can be found here. 13.92% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Bank of Montreal Can purchased a new position in Alphabet during the second quarter worth approximately $927,982,000. Parthenon LLC increased its position in Alphabet by 1.1% in the fourth quarter. Parthenon LLC now owns 7,470 shares of the company’s stock worth $5,669,000 after buying an additional 84 shares in the last quarter. Nordea Investment Management AB increased its position in Alphabet by 9.8% in the second quarter. Nordea Investment Management AB now owns 183,470 shares of the company’s stock worth $126,980,000 after buying an additional 16,342 shares in the last quarter. BTR Capital Management increased its position in Alphabet by 4.4% in the fourth quarter. BTR Capital Management now owns 1,198 shares of the company’s stock worth $909,000 after buying an additional 50 shares in the last quarter. Finally, Swiss National Bank increased its position in Alphabet by 1.6% in the fourth quarter. Swiss National Bank now owns 562,666 shares of the company’s stock worth $426,996,000 after buying an additional 8,800 shares in the last quarter. Hedge funds and other institutional investors own 34.39% of the company’s stock.
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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