Alphabet Inc. (GOOG) Receives Average Rating of “Buy” from Analysts
Shares of Alphabet Inc. (NASDAQ:GOOG) have earned an average recommendation of “Buy” from the forty-eight research firms that are covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, six have issued a hold recommendation and forty-one have given a buy recommendation to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $1,043.35.
Several equities analysts have recently issued reports on the company. Canaccord Genuity cut Alphabet from a “buy” rating to a “hold” rating and set a $1,000.00 target price on the stock. in a research note on Thursday, June 15th. They noted that the move was a valuation call. Pivotal Research reissued a “hold” rating and set a $980.00 target price (down from $990.00) on shares of Alphabet in a research note on Monday, July 17th. BidaskClub raised Alphabet from a “hold” rating to a “buy” rating in a research note on Friday, August 25th. Susquehanna Bancshares Inc reaffirmed a “positive” rating and issued a $1,200.00 price target on shares of Alphabet in a research note on Wednesday, June 28th. Finally, Goldman Sachs Group, Inc. (The) reaffirmed a “buy” rating on shares of Alphabet in a research note on Tuesday, July 25th.
Shares of Alphabet (NASDAQ:GOOG) traded up 0.32% during trading on Tuesday, reaching $932.07. 1,134,397 shares of the company’s stock were exchanged. The firm has a market capitalization of $645.81 billion, a P/E ratio of 33.78 and a beta of 0.94. The company has a 50 day moving average of $927.90 and a 200 day moving average of $905.79. Alphabet has a 52-week low of $727.54 and a 52-week high of $988.25.
Alphabet (NASDAQ:GOOG) last posted its earnings results on Monday, July 24th. The information services provider reported $5.01 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $4.43 by $0.58. Alphabet had a return on equity of 13.66% and a net margin of 19.49%. The firm had revenue of $26.01 billion for the quarter, compared to analysts’ expectations of $25.61 billion. During the same period in the previous year, the firm earned $8.42 earnings per share. The business’s revenue was up 21.0% compared to the same quarter last year. Equities analysts anticipate that Alphabet will post $30.59 earnings per share for the current fiscal year.
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In related news, Director Ann Mather sold 629 shares of the stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $932.28, for a total transaction of $586,404.12. Following the completion of the sale, the director now owns 1,781 shares in the company, valued at $1,660,390.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Sundar Pichai sold 4,000 shares of the stock in a transaction dated Wednesday, July 19th. The stock was sold at an average price of $969.92, for a total value of $3,879,680.00. Following the sale, the chief executive officer now owns 1,536 shares of the company’s stock, valued at approximately $1,489,797.12. The disclosure for this sale can be found here. In the last 90 days, insiders sold 46,680 shares of company stock valued at $43,521,363. Company insiders own 13.92% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. Burt Wealth Advisors boosted its stake in Alphabet by 17.2% during the second quarter. Burt Wealth Advisors now owns 136 shares of the information services provider’s stock valued at $123,000 after buying an additional 20 shares during the last quarter. Signature Estate & Investment Advisors LLC boosted its stake in Alphabet by 3.8% during the second quarter. Signature Estate & Investment Advisors LLC now owns 137 shares of the information services provider’s stock valued at $124,000 after buying an additional 5 shares during the last quarter. Riggs Asset Managment Co. Inc. boosted its stake in Alphabet by 39.6% during the second quarter. Riggs Asset Managment Co. Inc. now owns 141 shares of the information services provider’s stock valued at $128,000 after buying an additional 40 shares during the last quarter. Farmers National Bank boosted its stake in Alphabet by 15.0% during 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. Finally, Almanack Investment Partners LLC. boosted its stake in Alphabet by 4.5% during the second quarter. Almanack Investment Partners LLC. now owns 162 shares of the information services provider’s stock valued at $147,000 after buying an additional 7 shares during the last quarter. Hedge funds and other institutional investors own 34.55% 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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