Alphabet (NASDAQ:GOOGL) Earns Buy Rating from DZ Bank

Alphabet (NASDAQ:GOOGLGet Free Report)‘s stock had its “buy” rating reiterated by DZ Bank in a report released on Monday,MarketScreener reports.

Several other research analysts also recently commented on GOOGL. Citizens Jmp reiterated a “market outperform” rating and issued a $385.00 target price on shares of Alphabet in a report on Thursday, February 5th. Moffett Nathanson lifted their price objective on Alphabet from $305.00 to $350.00 and gave the stock a “buy” rating in a research note on Thursday, February 5th. JPMorgan Chase & Co. restated a “buy” rating on shares of Alphabet in a research note on Monday, February 9th. Sanford C. Bernstein lifted their price target on Alphabet from $305.00 to $335.00 and gave the stock a “market perform” rating in a research report on Monday, February 2nd. Finally, Truist Financial set a $385.00 price target on Alphabet in a report on Thursday, February 5th. Three investment analysts have rated the stock with a Strong Buy rating, forty-four have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $361.64.

Read Our Latest Stock Report on GOOGL

Alphabet Trading Down 1.1%

Shares of NASDAQ:GOOGL opened at $305.72 on Monday. The company has a 50 day moving average price of $321.19 and a 200 day moving average price of $275.51. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.01 and a current ratio of 2.01. Alphabet has a 1-year low of $140.53 and a 1-year high of $349.00. The stock has a market capitalization of $3.70 trillion, a price-to-earnings ratio of 28.28, a PEG ratio of 1.79 and a beta of 1.09.

Alphabet (NASDAQ:GOOGLGet Free Report) last announced its earnings results on Wednesday, February 4th. The information services provider reported $2.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.57 by $0.25. Alphabet had a return on equity of 35.01% and a net margin of 32.81%.The firm had revenue of $113.83 billion during the quarter, compared to analysts’ expectations of $111.24 billion. On average, research analysts anticipate that Alphabet will post 8.9 EPS for the current fiscal year.

Insider Activity

In other news, Director Frances Arnold sold 102 shares of the stock in a transaction that occurred on Thursday, January 29th. The shares were sold at an average price of $340.00, for a total transaction of $34,680.00. Following the sale, the director directly owned 18,307 shares of the company’s stock, valued at $6,224,380. This represents a 0.55% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction on Wednesday, February 4th. The shares were sold at an average price of $335.18, for a total value of $10,893,350.00. Following the completion of the transaction, the chief executive officer owned 2,179,372 shares in the company, valued at $730,481,906.96. The trade was a 1.47% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 2,064,308 shares of company stock worth $104,383,469. 11.55% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Alphabet

Hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. boosted its stake in shares of Alphabet by 2.4% during the 4th quarter. Vanguard Group Inc. now owns 528,969,322 shares of the information services provider’s stock worth $165,567,398,000 after acquiring an additional 12,531,695 shares during the period. State Street Corp lifted its holdings in Alphabet by 1.8% during the 2nd quarter. State Street Corp now owns 229,954,269 shares of the information services provider’s stock valued at $40,524,841,000 after purchasing an additional 4,008,374 shares during the last quarter. Geode Capital Management LLC boosted its position in Alphabet by 1.9% during the fourth quarter. Geode Capital Management LLC now owns 146,193,037 shares of the information services provider’s stock worth $45,625,595,000 after purchasing an additional 2,666,676 shares during the period. Norges Bank acquired a new position in shares of Alphabet in the second quarter valued at $21,944,208,000. Finally, Capital World Investors increased its holdings in shares of Alphabet by 1.5% in the fourth quarter. Capital World Investors now owns 53,881,908 shares of the information services provider’s stock valued at $16,865,158,000 after purchasing an additional 774,336 shares during the last quarter. Institutional investors own 40.03% of the company’s stock.

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About Alphabet

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Alphabet Inc is the holding company created in 2015 to organize Google and a portfolio of businesses developing technologies beyond Google’s core internet services. Its principal operations are led by Google, which builds and operates consumer-facing products such as Google Search, YouTube, Android, Chrome, Gmail, Google Maps and Google Workspace, as well as advertising platforms (Google Ads and AdSense) that historically generate the majority of its revenue. Google also develops consumer hardware (Pixel phones, Nest smart-home devices, Chromecast) and developer and distribution platforms such as Google Play.

Beyond Google’s consumer and advertising businesses, Alphabet invests in enterprise and infrastructure offerings through Google Cloud, which provides cloud computing, data analytics and productivity services to businesses and institutions.

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