Alphabet Inc. (GOOG) Stock Rating Reaffirmed by Deutsche Bank AG
Alphabet Inc. (NASDAQ:GOOG)‘s stock had its “buy” rating restated by stock analysts at Deutsche Bank AG in a note issued to investors on Wednesday. They presently have a $1,050.00 price target on the stock. Deutsche Bank AG’s price objective suggests a potential upside of 33.56% from the stock’s previous close.
GOOG has been the topic of a number of other research reports. Credit Agricole SA reiterated a “buy” rating on shares of Alphabet in a research note on Friday, September 23rd. Macquarie reiterated an “outperform” rating and issued a $975.00 target price on shares of Alphabet in a research note on Wednesday, October 5th. RBC Capital Markets reiterated an “outperform” rating and issued a $1,025.00 target price (up previously from $1,000.00) on shares of Alphabet in a research note on Friday, September 30th. Jefferies Group reissued a “buy” rating on shares of Alphabet in a research report on Friday, September 9th. Finally, Robert W. Baird reissued an “outperform” rating and set a $900.00 price target on shares of Alphabet in a research report on Wednesday, October 5th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, forty-five have issued a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $926.55.
Shares of Alphabet (NASDAQ:GOOG) traded up 0.39% during trading on Wednesday, reaching $786.14. The company’s stock had a trading volume of 935,138 shares. The firm’s 50-day moving average is $773.75 and its 200-day moving average is $740.98. Alphabet has a 12-month low of $641.73 and a 12-month high of $792.28. The stock has a market capitalization of $540.29 billion, a PE ratio of 30.46 and a beta of 1.03.
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Alphabet (NASDAQ:GOOG) last released 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. Alphabet had a return on equity of 14.74% and a net margin of 22.00%. The business had revenue of $21.50 billion for the quarter, compared to analyst estimates of $20.74 billion. During the same quarter last year, the firm posted $6.99 earnings per share. The business’s revenue was up 21.3% compared to the same quarter last year. Equities analysts expect that Alphabet will post $34.14 earnings per share for the current year.
In related news, VP James Grier Campbell sold 603 shares of the company’s stock in a transaction dated Wednesday, August 3rd. The stock was sold at an average price of $767.18, for a total value of $462,609.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ann Mather sold 115 shares of the company’s stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $769.38, for a total value of $88,478.70. Following the completion of the sale, the director now directly owns 1,656 shares of the company’s stock, valued at $1,274,093.28. The disclosure for this sale can be found here. Insiders own 13.92% of the company’s stock.
Several hedge funds have recently made changes to their positions in the stock. Bank of Montreal Can purchased a new stake in shares of Alphabet during the second quarter worth about $927,982,000. Magellan Asset Management Ltd boosted its stake in shares of Alphabet by 186.5% in the second quarter. Magellan Asset Management Ltd now owns 1,435,391 shares of the company’s stock worth $993,434,000 after buying an additional 934,412 shares during the period. Winslow Capital Management LLC purchased a new stake in shares of Alphabet during the second quarter worth about $498,110,000. Emerald Acquisition Ltd. purchased a new stake in shares of Alphabet during the second quarter worth about $481,330,000. Finally, Jana Partners LLC purchased a new stake in shares of Alphabet during the first quarter worth about $472,266,000. 34.39% of the stock is owned by hedge funds and other 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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