Alphabet Inc. (NASDAQ:GOOG) was downgraded by equities researchers at BidaskClub from a “buy” rating to a “hold” rating in a research note issued on Thursday.

Other research analysts have also recently issued reports about the stock. Atlantic Securities reissued a “buy” rating on shares of Alphabet in a research note on Friday, April 28th. J P Morgan Chase & Co reissued a “buy” rating on shares of Alphabet in a research note on Friday, April 28th. Oppenheimer Holdings, Inc. reissued a “buy” rating and set a $1,050.00 price objective (up from $1,000.00) on shares of Alphabet in a research note on Friday, April 28th. Cantor Fitzgerald reissued a “buy” rating on shares of Alphabet in a research note on Friday, April 28th. Finally, UBS AG reissued a “buy” rating and set a $1,050.00 price objective (up from $980.00) on shares of Alphabet in a research note on Friday, April 28th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and forty have assigned a buy rating to the company. Alphabet has an average rating of “Buy” and a consensus target price of $1,030.56.

Shares of Alphabet (GOOG) traded down 0.03% on Thursday, hitting $910.67. The stock had a trading volume of 1,342,689 shares. The company’s 50 day moving average is $933.52 and its 200 day moving average is $892.51. Alphabet has a one year low of $727.54 and a one year high of $988.25. The stock has a market cap of $630.98 billion, a PE ratio of 33.00 and a beta of 0.94.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings data on Monday, July 24th. The information services provider reported $5.01 earnings per share for the quarter, topping the Zacks’ consensus estimate of $4.43 by $0.58. Alphabet had a net margin of 19.49% and a return on equity of 13.66%. The business had revenue of $26.01 billion during the quarter, compared to analysts’ expectations of $25.61 billion. During the same period last year, the company posted $8.42 EPS. The company’s revenue was up 21.0% on a year-over-year basis. Equities research analysts predict that Alphabet will post $30.60 EPS for the current fiscal year.

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In related news, VP James Grier Campbell sold 183 shares of the business’s stock in a transaction dated Thursday, June 1st. The shares were sold at an average price of $968.95, for a total transaction of $177,317.85. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director L John Doerr sold 13,556 shares of the business’s stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $922.15, for a total transaction of $12,500,665.40. Following the sale, the director now directly owns 3,485 shares of the company’s stock, valued at approximately $3,213,692.75. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 47,169 shares of company stock valued at $44,206,482. Insiders own 13.92% of the company’s stock.

Several large investors have recently made changes to their positions in GOOG. Dodge & Cox acquired a new stake in shares of Alphabet during the fourth quarter worth $2,387,502,000. Janus Henderson Group PLC raised its position in Alphabet by 759.0% in the second quarter. Janus Henderson Group PLC now owns 3,204,087 shares of the information services provider’s stock worth $2,911,734,000 after buying an additional 2,831,099 shares during the last quarter. Norges Bank purchased a new position in Alphabet during the fourth quarter worth about $2,128,163,000. Harbour Capital Advisors LLC raised its position in Alphabet by 87,001.5% in the second quarter. Harbour Capital Advisors LLC now owns 1,993,754 shares of the information services provider’s stock worth $2,194,000 after buying an additional 1,991,465 shares during the last quarter. Finally, Koch Industries Inc. raised its position in Alphabet by 214,636.6% in the second quarter. Koch Industries Inc. now owns 1,161,725 shares of the information services provider’s stock worth $1,160,000 after buying an additional 1,161,184 shares during the last quarter. 34.57% 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.

Analyst Recommendations for Alphabet (NASDAQ:GOOG)

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