Alphabet (NASDAQ:GOOG) had its target price raised by Piper Jaffray Companies to $1,300.00 in a research note issued on Thursday, The Fly reports. The firm currently has an “overweight” rating on the information services provider’s stock. Piper Jaffray Companies’ target price would suggest a potential upside of 17.59% from the company’s previous close.
Several other equities analysts have also issued reports on GOOG. SunTrust Banks restated a “buy” rating and issued a $1,100.00 target price on shares of Alphabet in a report on Saturday, September 23rd. Robert W. Baird restated an “outperform” rating and issued a $1,100.00 target price on shares of Alphabet in a report on Saturday, September 23rd. Cantor Fitzgerald restated an “overweight” rating and issued a $1,100.00 target price on shares of Alphabet in a report on Saturday, September 23rd. Bank of America restated a “buy” rating and issued a $1,100.00 target price on shares of Alphabet in a report on Tuesday, September 26th. Finally, Morgan Stanley restated a “buy” rating on shares of Alphabet in a report on Friday, September 29th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, thirty-seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $1,048.36.
Shares of Alphabet (NASDAQ GOOG) traded up $2.91 during trading on Thursday, hitting $1,105.52. 976,121 shares of the company traded hands, compared to its average volume of 1,134,829. The company has a current ratio of 5.77, a quick ratio of 5.73 and a debt-to-equity ratio of 0.03. Alphabet has a one year low of $790.52 and a one year high of $1,111.27. The company has a market capitalization of $768,970.00, a PE ratio of 36.83 and a beta of 0.94.
In related news, CEO Sundar Pichai sold 4,000 shares of the company’s stock in a transaction dated Wednesday, January 3rd. The shares were sold at an average price of $1,065.21, for a total value of $4,260,840.00. Following the sale, the chief executive officer now owns 1,031 shares in the company, valued at approximately $1,098,231.51. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director L John Doerr sold 12,236 shares of the company’s stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $1,021.57, for a total transaction of $12,499,930.52. Following the completion of the sale, the director now owns 3,485 shares in the company, valued at approximately $3,560,171.45. The disclosure for this sale can be found here. Insiders sold a total of 36,900 shares of company stock worth $37,877,147 in the last 90 days. 13.92% of the stock is currently owned by company insiders.
Several institutional investors and hedge funds have recently bought and sold shares of GOOG. Perennial Advisors LLC grew its position in Alphabet by 8.7% in the 2nd quarter. Perennial Advisors LLC now owns 3,232 shares of the information services provider’s stock worth $2,937,000 after purchasing an additional 260 shares in the last quarter. One Capital Management LLC grew its position in Alphabet by 5.0% in the 2nd quarter. One Capital Management LLC now owns 3,213 shares of the information services provider’s stock worth $2,920,000 after purchasing an additional 154 shares in the last quarter. Northeast Investment Management grew its position in Alphabet by 4.4% in the 2nd quarter. Northeast Investment Management now owns 12,678 shares of the information services provider’s stock worth $11,521,000 after purchasing an additional 537 shares in the last quarter. Taurus Asset Management LLC grew its position in Alphabet by 0.9% in the 2nd quarter. Taurus Asset Management LLC now owns 25,960 shares of the information services provider’s stock worth $23,591,000 after purchasing an additional 220 shares in the last quarter. Finally, AKO Capital LLP grew its position in Alphabet by 6.8% in the 2nd quarter. AKO Capital LLP now owns 51,624 shares of the information services provider’s stock worth $46,912,000 after purchasing an additional 3,289 shares in the last quarter. Institutional investors own 34.63% of the company’s stock.
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.
