UBS AG Reaffirms “Buy” Rating for Alphabet Inc. (NASDAQ:GOOG)

Alphabet Inc. (NASDAQ:GOOG)‘s stock had its “buy” rating reissued by equities research analysts at UBS AG in a note issued to investors on Tuesday, July 25th, www.boersen-zeitung.de reports. They currently have a $1,080.00 target price on the information services provider’s stock. UBS AG’s target price would suggest a potential upside of 18.59% from the company’s current price.

A number of other research firms have also issued reports on GOOG. MKM Partners reissued a “buy” rating and issued a $1,170.00 target price on shares of Alphabet in a report on Wednesday, June 28th. Morgan Stanley reissued a “buy” rating on shares of Alphabet in a report on Monday, May 29th. BMO Capital Markets reissued an “outperform” rating and issued a $1,005.00 target price on shares of Alphabet in a report on Monday, March 27th. Nomura reissued a “buy” rating and issued a $985.00 target price on shares of Alphabet in a report on Monday, May 1st. Finally, Cowen and Company reissued an “outperform” rating and issued a $1,050.00 target price on shares of Alphabet in a report on Wednesday, April 19th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and forty have given a buy rating to the company’s stock. Alphabet has an average rating of “Buy” and a consensus target price of $1,030.56.

Alphabet (NASDAQ:GOOG) traded down 0.03% during midday trading on Tuesday, reaching $910.67. The company’s stock had a trading volume of 1,342,689 shares. The stock’s 50 day moving average is $933.52 and its 200 day moving average is $892.51. The stock has a market cap of $630.98 billion, a P/E ratio of 33.00 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 EPS for the quarter, topping the consensus estimate of $4.43 by $0.58. The company had revenue of $26.01 billion for the quarter, compared to analyst estimates of $25.61 billion. Alphabet had a return on equity of 13.66% and a net margin of 19.49%. The firm’s revenue was up 21.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $8.42 earnings per share. Analysts anticipate that Alphabet will post $30.60 earnings per share for the current year.

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In other news, VP James Grier Campbell sold 183 shares of Alphabet stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $911.16, for a total transaction of $166,742.28. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Sundar Pichai sold 4,000 shares of Alphabet stock in a transaction on Wednesday, August 16th. The shares were sold at an average price of $926.79, for a total value of $3,707,160.00. Following the transaction, the chief executive officer now owns 1,389 shares in the company, valued at $1,287,311.31. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 47,169 shares of company stock worth $44,206,482. 13.92% of the stock is owned by insiders.

Several large investors have recently added to or reduced their stakes in the company. Burt Wealth Advisors raised its stake in 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. Signature Estate & Investment Advisors LLC raised its stake in Alphabet by 3.8% in the second quarter. Signature Estate & Investment Advisors LLC now owns 137 shares of the information services provider’s stock valued at $124,000 after buying an additional 5 shares in the last quarter. Riggs Asset Managment Co. Inc. raised 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 in the last quarter. Farmers National Bank boosted 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. Finally, Almanack Investment Partners LLC. boosted 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 and hedge funds.

About Alphabet

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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