Alphabet Inc. (NASDAQ:GOOG) had its price target raised by investment analysts at Pivotal Research from $940.00 to $970.00 in a research note issued to investors on Thursday. The firm presently has a “hold” rating on the information services provider’s stock. Pivotal Research’s target price points to a potential downside of 1.95% from the stock’s previous close.

A number of other analysts have also issued reports on the company. Canaccord Genuity lowered Alphabet from a “buy” rating to a “hold” rating and set a $1,000.00 price target on the stock. in a research note on Thursday, June 15th. They noted that the move was a valuation call. Vetr raised Alphabet from a “hold” rating to a “buy” rating and set a $980.86 price target on the stock in a research note on Monday, June 19th. Goldman Sachs Group, Inc. (The) reissued a “buy” rating on shares of Alphabet in a research note on Wednesday, June 28th. MKM Partners reissued a “buy” rating and issued a $1,170.00 price target on shares of Alphabet in a research note on Wednesday, June 28th. Finally, Susquehanna Bancshares Inc reissued a “positive” rating and issued a $1,200.00 price target on shares of Alphabet in a research note on Wednesday, June 28th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirty-nine have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $1,034.07.

Alphabet (NASDAQ:GOOG) opened at 989.25 on Thursday. Alphabet has a 12 month low of $727.54 and a 12 month high of $990.71. The stock’s 50 day moving average is $938.42 and its 200 day moving average is $922.72. The firm has a market cap of $685.43 billion, a PE ratio of 35.85 and a beta of 0.94.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Monday, July 24th. The information services provider reported $5.01 EPS for the quarter, beating analysts’ consensus estimates of $4.43 by $0.58. The business had revenue of $26.01 billion for the quarter, compared to analyst estimates of $25.61 billion. Alphabet had a return on equity of 13.66% and a net margin of 19.49%. The business’s revenue for the quarter was up 21.0% compared to the same quarter last year. During the same quarter last year, the company earned $8.42 earnings per share. On average, equities analysts forecast that Alphabet will post $30.58 earnings per share for the current year.

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In related news, CEO Sundar Pichai sold 4,000 shares of the business’s stock in a transaction dated Wednesday, July 19th. The stock was sold at an average price of $969.92, for a total transaction of $3,879,680.00. Following the completion of the transaction, the chief executive officer now owns 1,536 shares of the company’s stock, valued at approximately $1,489,797.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ann Mather sold 629 shares of the business’s stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $932.28, for a total value of $586,404.12. Following the transaction, the director now directly owns 1,781 shares of the company’s stock, valued at approximately $1,660,390.68. The disclosure for this sale can be found here. In the last quarter, insiders have sold 40,694 shares of company stock valued at $38,042,264. 13.92% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Capital Investment Advisory Services LLC lifted its position in shares of Alphabet by 0.4% during the 2nd quarter. Capital Investment Advisory Services LLC now owns 253 shares of the information services provider’s stock worth $230,000 after purchasing an additional 1 shares during the last quarter. Capital Advantage Inc. lifted its position in shares of Alphabet by 0.4% during the 2nd quarter. Capital Advantage Inc. now owns 273 shares of the information services provider’s stock worth $248,000 after purchasing an additional 1 shares during the last quarter. Foster & Motley Inc. lifted its position in shares of Alphabet by 0.8% during the 2nd quarter. Foster & Motley Inc. now owns 265 shares of the information services provider’s stock worth $241,000 after purchasing an additional 2 shares during the last quarter. Gradient Investments LLC lifted its position in shares of Alphabet by 0.6% during the 2nd quarter. Gradient Investments LLC now owns 506 shares of the information services provider’s stock worth $460,000 after purchasing an additional 3 shares during the last quarter. Finally, Saratoga Research & Investment Management lifted its position in shares of Alphabet by 1.2% during the 2nd quarter. Saratoga Research & Investment Management now owns 257 shares of the information services provider’s stock worth $234,000 after purchasing an additional 3 shares during the last quarter. 34.53% of the stock is owned by institutional investors and hedge funds.

About Alphabet

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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