Alphabet Inc. (GOOG) Receives Consensus Recommendation of “Buy” from Analysts
Shares of Alphabet Inc. (NASDAQ:GOOG) have been assigned a consensus rating of “Buy” from the forty-seven brokerages that are presently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, six have issued a hold recommendation and forty have given a buy recommendation to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $991.28.
Several equities analysts have commented on the stock. Vetr raised shares of Alphabet from a “hold” rating to a “buy” rating and set a $980.86 target price on the stock in a research note on Monday, June 19th. Moffett Nathanson reissued a “buy” rating on shares of Alphabet in a research note on Friday, June 9th. Aegis reissued a “buy” rating and set a $1,011.00 target price on shares of Alphabet in a research note on Sunday, April 2nd. Robert W. Baird reissued an “outperform” rating and set a $960.00 target price on shares of Alphabet in a research note on Wednesday, March 1st. Finally, Jefferies Group LLC reissued a “buy” rating and set a $1,200.00 target price (up previously from $950.00) on shares of Alphabet in a research note on Sunday, May 28th.
In other news, SVP David C. Drummond sold 2,000 shares of the business’s stock in a transaction on Wednesday, April 12th. The shares were sold at an average price of $830.20, for a total value of $1,660,400.00. Following the sale, the senior vice president now owns 4,800 shares in the company, valued at approximately $3,984,960. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sundar Pichai sold 4,000 shares of the business’s stock in a transaction on Wednesday, April 5th. The shares were sold at an average price of $837.31, for a total transaction of $3,349,240.00. Following the completion of the sale, the chief executive officer now owns 2,351 shares in the company, valued at approximately $1,968,515.81. The disclosure for this sale can be found here. Insiders sold a total of 46,085 shares of company stock worth $42,307,001 in the last three months. Insiders own 13.92% of the company’s stock.
Large investors have recently modified their holdings of the stock. Shepherd Financial Partners LLC purchased a new stake in shares of Alphabet during the fourth quarter valued at approximately $3,291,000. Lyell Wealth Management LP purchased a new stake in shares of Alphabet during the fourth quarter valued at approximately $2,134,000. State Street Corp increased its stake in shares of Alphabet by 2.5% in the fourth quarter. State Street Corp now owns 12,030,811 shares of the information services provider’s stock valued at $9,285,625,000 after buying an additional 290,691 shares in the last quarter. Aviva PLC increased its stake in shares of Alphabet by 5.2% in the fourth quarter. Aviva PLC now owns 190,746 shares of the information services provider’s stock valued at $147,357,000 after buying an additional 9,363 shares in the last quarter. Finally, Worth Venture Partners LLC bought a new position in shares of Alphabet during the fourth quarter valued at about $1,532,000. Institutional investors own 35.04% of the company’s stock.
Shares of Alphabet (NASDAQ GOOG) traded down 2.62% on Tuesday, hitting $927.33. 2,578,738 shares of the stock were exchanged. The firm’s 50 day moving average price is $948.74 and its 200 day moving average price is $852.55. The firm has a market cap of $641.48 billion, a price-to-earnings ratio of 31.34 and a beta of 0.94. Alphabet has a one year low of $663.28 and a one year high of $988.25. Alphabet also was the recipient of some unusual options trading activity on Tuesday. Stock investors acquired 2,914 put options on the stock. This represents an increase of 173% compared to the typical daily volume of 1,066 put options.
Alphabet (NASDAQ:GOOG) last issued its quarterly earnings data on Thursday, April 27th. The information services provider reported $7.73 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $7.38 by $0.35. The firm had revenue of $24.75 billion for the quarter, compared to the consensus estimate of $24.18 billion. Alphabet had a net margin of 21.84% and a return on equity of 15.16%. Alphabet’s quarterly revenue was up 22.2% compared to the same quarter last year. During the same period last year, the firm posted $7.50 EPS. Equities analysts anticipate that Alphabet will post $33.91 earnings per share for the current year.
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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