Cowen and Company reiterated their outperform rating on shares of Alphabet Inc. (NASDAQ:GOOG) in a research note released on Thursday. Cowen and Company currently has a $1,075.00 target price on the information services provider’s stock.
Other equities research analysts have also recently issued research reports about the stock. UBS AG reaffirmed a buy rating and set a $1,050.00 price objective (up previously from $980.00) on shares of Alphabet in a research report on Friday, April 28th. Morgan Stanley reaffirmed a buy rating on shares of Alphabet in a research report on Monday, May 29th. J P Morgan Chase & Co reaffirmed a buy rating on shares of Alphabet in a research report on Tuesday, July 25th. Canaccord Genuity reaffirmed a hold rating and set a $1,000.00 price objective on shares of Alphabet in a research report on Thursday, July 27th. Finally, Vetr raised shares of Alphabet from a sell rating to a hold rating and set a $907.74 price objective for the company in a research report on Wednesday, May 17th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, forty 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 price target of $1,026.22.
Shares of Alphabet (NASDAQ GOOG) traded up 0.7754% during trading on Thursday, reaching $921.4799. 607,900 shares of the company traded hands. The stock has a market capitalization of $638.47 billion, a PE ratio of 33.3954 and a beta of 0.94. The company has a 50-day moving average of $936.66 and a 200-day moving average of $889.11. Alphabet has a 12 month low of $727.54 and a 12 month high of $988.25.
Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Monday, July 24th. The information services provider reported $5.01 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $4.43 by $0.58. Alphabet had a net margin of 19.49% and a return on equity of 13.66%. The business had revenue of $26.01 billion during the quarter, compared to analysts’ expectations of $25.61 billion. During the same quarter in the prior year, the business posted $8.42 earnings per share. Alphabet’s revenue was up 21.0% compared to the same quarter last year. Analysts forecast that Alphabet will post $30.59 earnings per share for the current fiscal year.
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In related news, Director Ann Mather sold 629 shares of Alphabet 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 completion of the sale, the director now owns 1,781 shares of the company’s stock, valued at approximately $1,660,390.68. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP James Grier Campbell sold 184 shares of Alphabet stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $932.38, for a total value of $171,557.92. The disclosure for this sale can be found here. Insiders have sold a total of 31,613 shares of company stock worth $29,887,697 over the last quarter. Company insiders own 13.92% of the company’s stock.
Large investors have recently made changes to their positions in the company. Burt Wealth Advisors raised its stake in shares of Alphabet by 17.2% in the second quarter. Burt Wealth Advisors now owns 136 shares of the information services provider’s stock valued at $123,000 after buying an additional 20 shares during the period. Riggs Asset Managment Co. Inc. raised its stake in shares of 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 period. Farmers National Bank raised its stake in shares of 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 during the period. Pacific Center for Financial Services purchased a new stake in shares of Alphabet during the fourth quarter valued at $142,000. Finally, Almanack Investment Partners LLC. raised its stake in shares of Alphabet by 4.5% in the second quarter. Almanack Investment Partners LLC. now owns 162 shares of the information services provider’s stock valued at $147,000 after buying an additional 7 shares during the period. 34.57% of the stock is owned by institutional investors.
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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