Alphabet Inc. (NASDAQ:GOOGL) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Alphabet Inc. (NASDAQ:GOOGL) have earned a consensus rating of “Moderate Buy” from the forty-eight brokerages that are currently covering the stock, MarketBeat reports. Nine analysts have rated the stock with a hold rating, thirty-six have given a buy rating and three have given a strong buy rating to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $303.0851.

GOOGL has been the topic of a number of research analyst reports. Canaccord Genuity Group lifted their target price on Alphabet from $270.00 to $330.00 and gave the company a “buy” rating in a research report on Thursday, October 30th. Susquehanna lifted their target price on Alphabet from $225.00 to $350.00 and gave the company a “positive” rating in a research report on Thursday, October 30th. CIBC boosted their price objective on Alphabet to $315.00 in a report on Monday, October 20th. Royal Bank Of Canada reiterated a “buy” rating on shares of Alphabet in a report on Thursday, October 30th. Finally, Mizuho set a $325.00 price objective on Alphabet in a report on Thursday, October 30th.

Alphabet Stock Performance

Shares of Alphabet stock opened at $284.31 on Friday. Alphabet has a one year low of $140.53 and a one year high of $291.59. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. The company has a market cap of $3.44 trillion, a price-to-earnings ratio of 28.04, a PEG ratio of 1.86 and a beta of 1.05. The business’s 50 day moving average price is $248.44 and its 200 day moving average price is $202.71.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Wednesday, October 29th. The information services provider reported $2.87 EPS for the quarter, beating analysts’ consensus estimates of $2.29 by $0.58. Alphabet had a return on equity of 36.08% and a net margin of 32.23%.The company had revenue of $102.35 billion for the quarter, compared to the consensus estimate of $99.90 billion. On average, research analysts predict that Alphabet will post 8.9 EPS for the current year.

Insider Transactions at Alphabet

In related news, Director John L. Hennessy sold 600 shares of the business’s stock in a transaction on Monday, October 13th. The stock was sold at an average price of $242.92, for a total value of $145,752.00. Following the sale, the director owned 5,116 shares in the company, valued at approximately $1,242,778.72. The trade was a 10.50% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Frances Arnold sold 112 shares of the business’s stock in a transaction on Thursday, October 30th. The shares were sold at an average price of $291.80, for a total value of $32,681.60. Following the completion of the sale, the director owned 18,004 shares in the company, valued at $5,253,567.20. This represents a 0.62% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 190,896 shares of company stock worth $45,092,175. 11.64% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of GOOGL. Guardian Wealth Management Inc. grew its stake in Alphabet by 242.9% during the 1st quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider’s stock worth $26,000 after purchasing an additional 119 shares in the last quarter. von Borstel & Associates Inc. acquired a new position in Alphabet during the 1st quarter worth $28,000. IMA Advisory Services Inc. acquired a new position in shares of Alphabet during the 1st quarter worth about $28,000. NBZ Investment Advisors LLC boosted its position in shares of Alphabet by 85.7% during the 1st quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider’s stock worth $30,000 after acquiring an additional 90 shares in the last quarter. Finally, Financial Gravity Companies Inc. acquired a new position in shares of Alphabet during the 2nd quarter worth about $31,000. 40.03% of the stock is owned by institutional investors and hedge funds.

Alphabet Company Profile

Alphabet Inc offers various products and platforms in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment provides products and services, including ads, Android, Chrome, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.