Alphabet Inc. (NASDAQ:GOOG)‘s stock had its “buy” rating restated by equities researchers at Barclays PLC in a note issued to investors on Tuesday, July 25th.
Several other equities analysts have also commented on the company. Nomura reiterated a “buy” rating and issued a $985.00 target price on shares of Alphabet in a research note on Monday, May 1st. Goldman Sachs Group, Inc. (The) reiterated a “buy” rating on shares of Alphabet in a research note on Wednesday, June 28th. Wedbush reiterated an “underperform” rating and issued a $725.00 target price (up from $700.00) on shares of Alphabet in a research note on Saturday, April 29th. Cantor Fitzgerald reiterated a “buy” rating on shares of Alphabet in a research note on Friday, April 28th. Finally, Canaccord Genuity lowered Alphabet from a “buy” rating to a “hold” rating and set a $1,000.00 target price for the company. in a research note on Thursday, June 15th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, forty have assigned a buy rating and one has assigned a strong buy rating to the company. Alphabet currently has an average rating of “Buy” and an average target price of $1,026.22.
Shares of Alphabet (GOOG) traded up 0.79% during mid-day trading on Tuesday, hitting $914.39. 1,206,782 shares of the stock were exchanged. The company has a 50-day moving average price of $936.66 and a 200-day moving average price of $889.11. The stock has a market cap of $633.56 billion, a price-to-earnings ratio of 33.14 and a beta of 0.94. Alphabet has a 12 month low of $727.54 and a 12 month high of $988.25.
Alphabet (NASDAQ:GOOG) last released its quarterly earnings results on Monday, July 24th. The information services provider reported $5.01 earnings per share for the quarter, topping the Zacks’ 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 during the quarter, compared to analysts’ expectations of $25.61 billion. During the same period in the previous year, the firm posted $8.42 earnings per share. The business’s revenue for the quarter was up 21.0% compared to the same quarter last year. Equities analysts expect that Alphabet will post $30.59 earnings per share for the current year.
In other Alphabet news, Director L John Doerr sold 13,355 shares of the firm’s stock in a transaction dated Monday, May 15th. The stock was sold at an average price of $935.93, for a total transaction of $12,499,345.15. Following the transaction, the director now directly owns 3,468 shares in the company, valued at $3,245,805.24. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Sundar Pichai sold 4,000 shares of the firm’s stock in a transaction dated Wednesday, June 7th. The shares were sold at an average price of $981.45, for a total value of $3,925,800.00. Following the completion of the sale, the chief executive officer now directly owns 2,058 shares in the company, valued at $2,019,824.10. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 44,968 shares of company stock worth $42,387,042. Corporate insiders own 13.92% of the company’s stock.
Large investors have recently modified their holdings of the stock. Burt Wealth Advisors increased 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 in the last quarter. 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 worth $128,000 after buying an additional 40 shares during the period. 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 worth $134,000 after buying an additional 21 shares during the period. Almanack Investment Partners LLC. increased its stake in Alphabet by 4.5% in the second quarter. Almanack Investment Partners LLC. now owns 162 shares of the information services provider’s stock worth $147,000 after buying an additional 7 shares during the period. Finally, 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 worth $156,000 after buying an additional 157 shares during the period. 34.54% of the stock is currently 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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