Goldman Sachs Group Reaffirms “Buy” Rating for Alphabet (GOOG)

Alphabet (NASDAQ:GOOG)‘s stock had its “buy” rating reissued by Goldman Sachs Group in a report issued on Tuesday.

Other analysts have also recently issued research reports about the company. Barclays restated a “buy” rating on shares of Alphabet in a report on Friday, October 26th. Wedbush initiated coverage on Alphabet in a report on Wednesday, October 17th. They issued an “outperform” rating on the stock. Canaccord Genuity decreased their price target on Alphabet from $1,170.00 to $1,140.00 and set a “hold” rating on the stock in a report on Friday, October 26th. Piper Jaffray Companies cut their target price on Alphabet to $1,250.00 and set an “overweight” rating on the stock in a research note on Friday, October 26th. Finally, Royal Bank of Canada reissued a “buy” rating on shares of Alphabet in a research note on Friday, February 1st. One research analyst has rated the stock with a sell rating, two have given a hold rating and twenty-nine have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $1,327.66.

Alphabet stock traded up $26.41 during mid-day trading on Tuesday, hitting $1,121.42. 77,752 shares of the company were exchanged, compared to its average volume of 1,592,648. The company has a debt-to-equity ratio of 0.02, a current ratio of 3.92 and a quick ratio of 3.89. Alphabet has a 1-year low of $970.11 and a 1-year high of $1,273.89. The firm has a market capitalization of $761.99 billion, a P/E ratio of 23.05 and a beta of 1.06.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Monday, February 4th. The information services provider reported $12.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.86 by $1.91. Alphabet had a return on equity of 19.94% and a net margin of 22.47%. The firm had revenue of $39.28 billion during the quarter, compared to analyst estimates of $38.91 billion. During the same period in the prior year, the company posted $9.70 earnings per share. The business’s revenue for the quarter was up 21.5% compared to the same quarter last year.

In other news, CEO Sundar Pichai sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, November 21st. The stock was sold at an average price of $1,038.35, for a total transaction of $10,383,500.00. Following the sale, the chief executive officer now owns 519 shares of the company’s stock, valued at $538,903.65. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Ann Mather sold 40 shares of the firm’s stock in a transaction dated Friday, February 1st. The stock was sold at an average price of $1,113.10, for a total value of $44,524.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 73,805 shares of company stock worth $77,449,341. 13.11% of the stock is currently owned by insiders.

Institutional investors have recently made changes to their positions in the stock. Garner Asset Management Corp grew its stake in Alphabet by 27.8% in the third quarter. Garner Asset Management Corp now owns 993 shares of the information services provider’s stock valued at $1,185,000 after purchasing an additional 216 shares in the last quarter. Rice Partnership LLC boosted its stake in shares of Alphabet by 21.7% during the 2nd quarter. Rice Partnership LLC now owns 544 shares of the information services provider’s stock worth $607,000 after acquiring an additional 97 shares during the period. Jennison Associates LLC boosted its stake in shares of Alphabet by 8.0% during the 3rd quarter. Jennison Associates LLC now owns 1,794,787 shares of the information services provider’s stock worth $2,142,024,000 after acquiring an additional 132,781 shares during the period. Schmidt P J Investment Management Inc. boosted its stake in shares of Alphabet by 1.5% during the 3rd quarter. Schmidt P J Investment Management Inc. now owns 5,166 shares of the information services provider’s stock worth $6,165,000 after acquiring an additional 78 shares during the period. Finally, C WorldWide Group Holding A S boosted its stake in shares of Alphabet by 0.3% during the 3rd quarter. C WorldWide Group Holding A S now owns 485,671 shares of the information services provider’s stock worth $579,633,000 after acquiring an additional 1,466 shares during the period. 42.14% of the stock is currently owned by institutional investors and hedge funds.

About Alphabet

Alphabet Inc, through its subsidiaries, provides online advertising services in the United States and internationally. The company offers performance and brand advertising services. It operates through Google and Other Bets segments. The Google segment includes principal Internet products, such as Ads, Android, Chrome, Commerce, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure and newer efforts, including Virtual Reality.

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