Alphabet Inc. (NASDAQ:GOOG) Rating Reiterated by Needham & Company LLC
Alphabet Inc. (NASDAQ:GOOG)‘s stock had its “buy” rating restated by equities researchers at Needham & Company LLC in a research report issued on Monday. They presently have a $1,050.00 price objective on the information services provider’s stock. Needham & Company LLC’s price target points to a potential upside of 10.13% from the company’s current price.
Other analysts also recently issued research reports about the company. Instinet reduced their price objective on Alphabet from $950.00 to $925.00 and set a “buy” rating for the company in a research report on Tuesday, March 28th. UBS AG reiterated a “buy” rating and issued a $980.00 price objective on shares of Alphabet in a research report on Monday, March 27th. Aegis reiterated a “buy” rating and issued a $1,011.00 price objective on shares of Alphabet in a research report on Sunday, April 2nd. Mizuho reiterated a “buy” rating and issued a $1,024.00 price objective on shares of Alphabet in a research report on Thursday, March 23rd. Finally, Vetr upgraded Alphabet from a “hold” rating to a “buy” rating and set a $891.70 price objective for the company in a research report on Monday, March 20th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, forty have issued a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $994.64.
Shares of Alphabet (NASDAQ:GOOG) traded down 0.27% during midday trading on Monday, hitting $953.42. The stock had a trading volume of 1,165,537 shares. The firm has a market cap of $659.53 billion, a PE ratio of 32.22 and a beta of 0.95. Alphabet has a 12-month low of $719.05 and a 12-month high of $988.25. The firm has a 50-day moving average of $952.24 and a 200 day moving average of $860.20.
Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data on Thursday, April 27th. The information services provider reported $7.73 EPS for the quarter, topping the Zacks’ consensus estimate of $7.38 by $0.35. Alphabet had a return on equity of 15.16% and a net margin of 21.84%. The company had revenue of $24.75 billion during the quarter, compared to the consensus estimate of $24.18 billion. During the same quarter last year, the company earned $7.50 EPS. The company’s quarterly revenue was up 22.2% on a year-over-year basis. On average, analysts expect that Alphabet will post $34.00 earnings per share for the current year.
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In other Alphabet news, CEO Sundar Pichai sold 4,000 shares of the stock in a transaction dated Wednesday, April 19th. The shares were sold at an average price of $841.50, for a total value of $3,366,000.00. Following the completion of the sale, the chief executive officer now owns 1,976 shares in the company, valued at approximately $1,662,804. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Shirley M. Tilghman sold 250 shares of the stock in a transaction dated Friday, May 12th. The shares were sold at an average price of $931.88, for a total transaction of $232,970.00. Following the completion of the sale, the director now owns 5,579 shares of the company’s stock, valued at approximately $5,198,958.52. The disclosure for this sale can be found here. In the last ninety days, insiders sold 46,268 shares of company stock worth $42,981,057. 13.92% of the stock is owned by insiders.
Large investors have recently modified their holdings of the company. Empirical Finance LLC bought a new stake in shares of Alphabet during the fourth quarter valued at about $115,000. Farmers National Bank raised its stake in shares of Alphabet by 15.0% in the first quarter. Farmers National Bank now owns 161 shares of the information services provider’s stock valued at $134,000 after buying an additional 21 shares during the last quarter. Pacific Center for Financial Services bought a new stake in shares of Alphabet during the fourth quarter valued at about $142,000. St. Johns Investment Management Company LLC raised its stake in shares of Alphabet by 1,046.7% in the second quarter. St. Johns Investment Management Company LLC now owns 172 shares of the information services provider’s stock valued at $156,000 after buying an additional 157 shares during the last quarter. Finally, Israel Discount Bank of New York GFN bought a new stake in shares of Alphabet during the fourth quarter valued at about $166,000. Institutional investors own 34.59% of the company’s stock.
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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