Alphabet Inc. (GOOG) Given Average Rating of “Buy” by Analysts
Alphabet Inc. (NASDAQ:GOOG) has been assigned a consensus recommendation of “Buy” from the forty-eight ratings firms that are covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation and forty have issued a buy recommendation on the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $1,040.20.
GOOG has been the topic of several recent research reports. Citigroup Inc. reiterated a “buy” rating and issued a $1,180.00 price target on shares of Alphabet in a report on Thursday, July 27th. Deutsche Bank AG reiterated a “buy” rating on shares of Alphabet in a report on Monday, June 12th. Vetr upgraded Alphabet from a “hold” rating to a “buy” rating and set a $995.83 price target on the stock in a report on Monday, June 26th. Instinet reiterated a “buy” rating and issued a $925.00 price target on shares of Alphabet in a report on Wednesday, April 26th. Finally, Cantor Fitzgerald reiterated a “buy” rating on shares of Alphabet in a report on Friday, April 28th.
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Shares of Alphabet (NASDAQ GOOG) traded down 0.03% during midday trading on Friday, reaching $910.67. 1,342,689 shares of the company’s stock were exchanged. Alphabet has a 1-year low of $727.54 and a 1-year high of $988.25. The firm has a 50-day moving average of $933.52 and a 200-day moving average of $892.51. The company has a market capitalization of $630.98 billion, a PE ratio of 33.00 and a beta of 0.94.
Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Monday, July 24th. The information services provider reported $5.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.43 by $0.58. The business had revenue of $26.01 billion for the quarter, compared to analysts’ expectations of $25.61 billion. Alphabet had a return on equity of 13.66% and a net margin of 19.49%. The firm’s quarterly revenue was up 21.0% compared to the same quarter last year. During the same quarter last year, the business earned $8.42 earnings per share. Equities analysts expect that Alphabet will post $30.60 earnings per share for the current fiscal year.
In related news, CEO Sundar Pichai sold 4,000 shares of the business’s stock in a transaction on Wednesday, July 5th. The stock was sold at an average price of $903.86, for a total value of $3,615,440.00. Following the completion of the sale, the chief executive officer now directly owns 1,911 shares in the company, valued at approximately $1,727,276.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP James Grier Campbell sold 183 shares of the business’s stock in a transaction on Thursday, June 1st. The shares were sold at an average price of $968.95, for a total value of $177,317.85. The disclosure for this sale can be found here. Insiders have sold a total of 47,169 shares of company stock valued at $44,206,482 over the last quarter. 13.92% of the stock is currently owned by corporate insiders.
Hedge funds have recently added to or reduced their stakes in the stock. Norges Bank purchased a new stake in Alphabet during the fourth quarter valued at about $2,128,163,000. Adviser Investments LLC purchased a new stake in Alphabet during the first quarter valued at about $1,276,000. Farmers & Merchants Investments Inc. increased its stake in Alphabet by 0.3% in the first quarter. Farmers & Merchants Investments Inc. now owns 5,464 shares of the information services provider’s stock valued at $4,533,000 after buying an additional 18 shares during the period. Highbridge Capital Management LLC purchased a new stake in Alphabet during the fourth quarter valued at about $7,718,000. Finally, Hartford Investment Management Co. increased its stake in Alphabet by 6.1% in the first quarter. Hartford Investment Management Co. now owns 79,529 shares of the information services provider’s stock valued at $65,974,000 after buying an additional 4,602 shares during the period. Institutional investors and hedge funds own 34.57% 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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