Jefferies Group LLC Reaffirms Buy Rating for Alphabet Inc (GOOG)
Alphabet Inc (NASDAQ:GOOG)‘s stock had its “buy” rating restated by stock analysts at Jefferies Group LLC in a note issued to investors on Sunday. They currently have a $1,200.00 price objective on the information services provider’s stock, up from their prior price objective of $950.00. Jefferies Group LLC’s price objective would suggest a potential upside of 23.52% from the company’s current price.
Other research analysts have also recently issued reports about the company. Vetr upgraded Alphabet from a “sell” rating to a “hold” rating and set a $907.74 price target for the company in a research note on Wednesday, May 17th. Aegis reaffirmed a “buy” rating on shares of Alphabet in a research report on Monday, May 22nd. MKM Partners reaffirmed a “buy” rating and set a $1,000.00 target price on shares of Alphabet in a research report on Tuesday, April 25th. Piper Jaffray Companies lowered their target price on Alphabet from $1,050.00 to $930.00 and set an “overweight” rating for the company in a research report on Friday, April 28th. Finally, Wells Fargo & Co reaffirmed an “outperform” rating and set a target price on shares of Alphabet in a research report on Tuesday, May 23rd. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and forty-one have issued a buy rating to the stock. Alphabet presently has a consensus rating of “Buy” and a consensus price target of $981.49.
Shares of Alphabet (NASDAQ:GOOG) opened at 971.47 on Friday. Alphabet has a 1-year low of $663.28 and a 1-year high of $974.98. The firm has a market capitalization of $672.01 billion, a PE ratio of 32.83 and a beta of 0.94. The stock has a 50 day moving average price of $897.95 and a 200 day moving average price of $828.19.
Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Thursday, April 27th. The information services provider reported $7.73 EPS for the quarter, beating the Zacks’ consensus estimate of $7.38 by $0.35. Alphabet had a return on equity of 14.85% and a net margin of 21.58%. The company had revenue of $24.75 billion during the quarter, compared to analysts’ expectations of $24.18 billion. During the same period in the prior year, the company earned $7.50 EPS. Alphabet’s revenue was up 22.2% compared to the same quarter last year. Equities research analysts anticipate that Alphabet will post $33.88 earnings per share for the current fiscal year.
In other Alphabet news, Director Shirley M. Tilghman sold 250 shares of the business’s stock in a transaction on Friday, May 12th. The shares were sold at an average price of $931.88, for a total value of $232,970.00. Following the completion of the sale, the director now directly owns 5,579 shares of the company’s stock, valued at $5,198,958.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Sundar Pichai sold 4,000 shares of the business’s stock in a transaction on Wednesday, March 1st. The stock was sold at an average price of $830.96, for a total transaction of $3,323,840.00. Following the completion of the sale, the chief executive officer now directly owns 2,873 shares of the company’s stock, valued at $2,387,348.08. The disclosure for this sale can be found here. Insiders sold 46,133 shares of company stock valued at $41,100,547 over the last three months. 13.92% of the stock is currently owned by insiders.
Hedge funds have recently bought and sold shares of the company. Gerstein Fisher increased its position in shares of Alphabet by 3.6% in the third quarter. Gerstein Fisher now owns 6,454 shares of the information services provider’s stock valued at $3,927,000 after buying an additional 223 shares during the period. EQIS Capital Management purchased a new position in shares of Alphabet during the fourth quarter valued at approximately $1,334,000. Curbstone Financial Management increased its position in shares of Alphabet by 93.5% in the fourth quarter. Curbstone Financial Management now owns 3,134 shares of the information services provider’s stock valued at $2,378,000 after buying an additional 1,514 shares during the period. Union Bankshares purchased a new position in shares of Alphabet during the fourth quarter valued at approximately $342,000. Finally, Lenox Wealth Advisors increased its position in shares of Alphabet by 25.5% in the fourth quarter. Lenox Wealth Advisors now owns 369 shares of the information services provider’s stock valued at $280,000 after buying an additional 75 shares during the period. 34.74% of the stock is owned by institutional investors and hedge funds.
Alphabet Company Profile
Alphabet Inc is a holding company. The Company’s businesses include Google Inc (Google) and its Internet products, such as Access, Calico, CapitalG, GV, Nest, Verily, Waymo and X. The Company’s segments include Google and Other Bets. The Google segment includes its Internet products, such as Search, Ads, Commerce, Maps, YouTube, Google Cloud, Android, Chrome and Google Play, as well as its hardware initiatives.
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