Alphabet Inc. (NASDAQ:GOOG)‘s stock had its “buy” rating reissued by stock analysts at Deutsche Bank AG in a research note issued to investors on Friday.
Other equities analysts have also recently issued research reports about the stock. Vetr raised shares of Alphabet from a “hold” rating to a “buy” rating and set a $995.83 price objective for the company in a research note on Monday, June 26th. Instinet reaffirmed a “buy” rating and set a $925.00 price objective on shares of Alphabet in a research note on Wednesday, April 26th. Cantor Fitzgerald reaffirmed a “buy” rating on shares of Alphabet in a research note on Friday, April 28th. Mizuho reaffirmed a “buy” rating and set a $1,024.00 price objective on shares of Alphabet in a research note on Thursday, March 23rd. Finally, Cowen and Company boosted their price objective on shares of Alphabet from $1,050.00 to $1,075.00 and gave the company an “outperform” rating in a research note on Friday, April 28th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, thirty-nine have issued a buy rating and one has given a strong buy rating to the company’s stock. Alphabet presently has a consensus rating of “Buy” and a consensus target price of $994.64.
Shares of Alphabet (NASDAQ:GOOG) traded up 0.49% during mid-day trading on Friday, hitting $972.92. 1,711,000 shares of the stock were exchanged. The stock’s 50-day moving average is $948.07 and its 200-day moving average is $874.98. Alphabet has a 52 week low of $727.54 and a 52 week high of $988.25. The stock has a market capitalization of $673.02 billion, a price-to-earnings ratio of 32.88 and a beta of 0.94.
Alphabet (NASDAQ:GOOG) last posted its earnings results on Thursday, April 27th. The information services provider reported $7.73 earnings per share for the quarter, topping the consensus estimate of $7.38 by $0.35. The firm had revenue of $24.75 billion during the quarter, compared to the consensus estimate of $24.18 billion. Alphabet had a net margin of 21.84% and a return on equity of 15.16%. The company’s revenue was up 22.2% on a year-over-year basis. During the same quarter last year, the company earned $7.50 earnings per share. Analysts forecast that Alphabet will post $33.97 earnings per share for the current fiscal year.
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In other Alphabet news, insider Diane B. Greene sold 1,863 shares of the company’s stock in a transaction dated Monday, May 1st. The shares were sold at an average price of $902.72, for a total transaction of $1,681,767.36. Following the transaction, the insider now owns 85,916 shares in the company, valued at approximately $77,558,091.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Sundar Pichai sold 4,000 shares of the company’s stock in a transaction dated Wednesday, June 7th. The shares were sold at an average price of $981.45, for a total transaction of $3,925,800.00. Following the transaction, the chief executive officer now owns 2,058 shares in the company, valued at approximately $2,019,824.10. The disclosure for this sale can be found here. Insiders have sold a total of 46,268 shares of company stock worth $43,494,737 in the last 90 days. Company insiders own 13.92% of the company’s stock.
Several institutional investors have recently modified their holdings of the company. Lyell Wealth Management LP acquired a new position in shares of Alphabet during the fourth quarter valued at $2,134,000. Employees Retirement System of Texas boosted its position in shares of Alphabet by 3.4% in the fourth quarter. Employees Retirement System of Texas now owns 80,849 shares of the information services provider’s stock valued at $62,401,000 after buying an additional 2,647 shares during the period. First Allied Advisory Services Inc. boosted its position in shares of Alphabet by 11.3% in the fourth quarter. First Allied Advisory Services Inc. now owns 6,734 shares of the information services provider’s stock valued at $5,197,000 after buying an additional 684 shares during the period. Cim Investment Mangement Inc. boosted its position in shares of Alphabet by 1.1% in the fourth quarter. Cim Investment Mangement Inc. now owns 2,803 shares of the information services provider’s stock valued at $2,163,000 after buying an additional 31 shares during the period. Finally, Bluestein R H & Co. boosted its position in shares of Alphabet by 0.6% in the fourth quarter. Bluestein R H & Co. now owns 75,791 shares of the information services provider’s stock valued at $58,497,000 after buying an additional 476 shares during the period. Hedge funds and other institutional investors own 34.59% of the company’s stock.
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.
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