Alphabet Inc. (GOOG) Given Buy Rating at Deutsche Bank AG

Deutsche Bank AG reiterated their buy rating on shares of Alphabet Inc. (NASDAQ:GOOG) in a research note released on Friday, July 21st. Deutsche Bank AG currently has a $1,220.00 price objective on the information services provider’s stock.

A number of other analysts have also recently weighed in on the stock. UBS AG restated a buy rating and issued a $980.00 price objective on shares of Alphabet in a research note on Monday, March 27th. Aegis restated a buy rating and issued a $1,011.00 price objective on shares of Alphabet in a research note on Sunday, April 2nd. Moffett Nathanson restated a buy rating on shares of Alphabet in a research note on Friday, June 9th. Jefferies Group LLC restated a buy rating and issued a $1,200.00 price objective (up from $950.00) on shares of Alphabet in a research note on Sunday, May 28th. Finally, Goldman Sachs Group, Inc. (The) restated a buy rating on shares of Alphabet in a research note on Wednesday, July 5th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and forty have issued a buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus price target of $1,030.56.

Alphabet (NASDAQ:GOOG) traded down 0.03% during midday trading on Friday, reaching $910.67. 1,342,689 shares of the company were exchanged. The firm has a market cap of $630.98 billion, a P/E ratio of 33.00 and a beta of 0.94. The firm’s 50-day moving average is $933.52 and its 200-day moving average is $892.51. Alphabet has a one year low of $727.54 and a one year high of $988.25.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Monday, July 24th. The information services provider reported $5.01 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $4.43 by $0.58. The firm had revenue of $26.01 billion during the quarter, compared to analysts’ expectations of $25.61 billion. Alphabet had a net margin of 19.49% and a return on equity of 13.66%. The company’s revenue was up 21.0% compared to the same quarter last year. During the same period in the previous year, the company earned $8.42 earnings per share. On average, equities analysts expect that Alphabet will post $30.60 EPS for the current fiscal year.

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In other news, Director L John Doerr sold 13,556 shares of the company’s stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $922.15, for a total value of $12,500,665.40. Following the completion of the sale, the director now directly owns 3,485 shares of the company’s stock, valued at approximately $3,213,692.75. The sale was disclosed in a document filed with the SEC, which is accessible 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 value of $3,925,800.00. Following the completion of the sale, the chief executive officer now directly owns 2,058 shares of the company’s stock, valued at $2,019,824.10. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 47,169 shares of company stock worth $44,206,482. Corporate insiders own 13.92% of the company’s stock.

A number of hedge funds have recently bought and sold shares of the company. Lyell Wealth Management LP acquired a new stake in Alphabet during the fourth quarter worth about $2,134,000. Employees Retirement System of Texas boosted its stake in 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 worth $62,401,000 after buying an additional 2,647 shares during the last quarter. First Allied Advisory Services Inc. boosted its stake in 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 worth $5,197,000 after buying an additional 684 shares during the last quarter. Cim Investment Mangement Inc. boosted its stake in Alphabet by 1.1% in the fourth quarter. Cim Investment Mangement Inc. now owns 2,803 shares of the information services provider’s stock worth $2,163,000 after buying an additional 31 shares during the last quarter. Finally, Bluestein R H & Co. boosted its stake in Alphabet by 0.6% in the fourth quarter. Bluestein R H & Co. now owns 75,791 shares of the information services provider’s stock worth $58,497,000 after buying an additional 476 shares during the last quarter. 34.57% 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.

Analyst Recommendations for Alphabet (NASDAQ:GOOG)

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