Alphabet Inc. (NASDAQ:GOOG)‘s stock had its “buy” rating reissued by analysts at Citigroup Inc. in a note issued to investors on Thursday. They presently have a $1,180.00 price objective on the information services provider’s stock. Citigroup Inc.’s price objective indicates a potential upside of 25.33% from the stock’s previous close.
Several other analysts have also commented on GOOG. UBS AG reissued a “buy” rating and issued a $1,050.00 price objective (up from $980.00) on shares of Alphabet in a report on Friday, April 28th. Goldman Sachs Group, Inc. (The) reissued a “buy” rating on shares of Alphabet in a report on Tuesday. Cantor Fitzgerald reissued an “overweight” rating and issued a $1,100.00 price objective (up from $1,070.00) on shares of Alphabet in a report on Tuesday. Needham & Company LLC reissued a “buy” rating and issued a $1,100.00 price objective (up from $1,050.00) on shares of Alphabet in a report on Tuesday. Finally, Canaccord Genuity reissued a “hold” rating and issued a $1,000.00 price objective on shares of Alphabet in a report on Thursday. One research analyst has rated the stock with a sell rating, six have issued a hold rating, forty-one have assigned a buy rating and two have given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $1,012.23.
Alphabet (NASDAQ:GOOG) traded up 0.80% on Thursday, reaching $941.53. The company had a trading volume of 1,846,351 shares. The stock’s 50 day moving average is $944.07 and its 200-day moving average is $881.26. The stock has a market capitalization of $652.37 billion, a P/E ratio of 34.12 and a beta of 0.94. Alphabet has a 1-year low of $727.54 and a 1-year high of $988.25.
Alphabet (NASDAQ:GOOG) last issued its quarterly earnings data on Monday, July 24th. The information services provider reported $5.01 EPS for the quarter, beating the 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 company had revenue of $26.01 billion for the quarter, compared to analyst estimates of $25.61 billion. During the same period last year, the company earned $8.42 earnings per share. Alphabet’s quarterly revenue was up 21.0% compared to the same quarter last year. On average, equities analysts predict that Alphabet will post $30.74 EPS for the current fiscal year.
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In other news, SVP David C. Drummond sold 2,000 shares of the business’s stock in a transaction dated Friday, May 12th. The stock was sold at an average price of $945.65, for a total value of $1,891,300.00. Following the completion of the sale, the senior vice president now directly owns 3,800 shares of the company’s stock, valued at approximately $3,593,470. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP James Grier Campbell sold 366 shares of the business’s stock in a transaction dated Monday, May 1st. The shares were sold at an average price of $902.72, for a total value of $330,395.52. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 46,793 shares of company stock valued at $43,987,234. Insiders own 13.92% of the company’s stock.
Several hedge funds have recently bought and sold shares of the stock. Riggs Asset Managment Co. Inc. increased its stake in Alphabet by 39.6% in 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 increased its stake in Alphabet by 15.0% in 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 in the last quarter. St. Johns Investment Management Company LLC increased its stake in Alphabet by 1,046.7% in the second quarter. St. Johns Investment Management Company LLC now owns 172 shares of the information services provider’s stock valued at $156,000 after buying an additional 157 shares in the last quarter. Pacific Center for Financial Services bought a new stake in Alphabet during the fourth quarter valued at approximately $142,000. Finally, Cribstone Capital Management LLC increased its stake in Alphabet by 5.7% in the second quarter. Cribstone Capital Management LLC now owns 184 shares of the information services provider’s stock valued at $167,000 after buying an additional 10 shares in the last quarter. 34.60% of the stock is owned by institutional investors and hedge funds.
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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