Alphabet Inc. (NASDAQ:GOOG) SVP David C. Drummond sold 2,000 shares of Alphabet stock in a transaction that occurred on Wednesday, July 12th. The shares were sold at an average price of $949.77, for a total value of $1,899,540.00. Following the completion of the transaction, the senior vice president now owns 1,800 shares of the company’s stock, valued at $1,709,586. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Shares of Alphabet Inc. (NASDAQ:GOOG) opened at 926.79 on Wednesday. The company has a market capitalization of $642.15 billion, a PE ratio of 33.59 and a beta of 0.94. Alphabet Inc. has a 12-month low of $727.54 and a 12-month high of $988.25. The firm’s 50-day moving average is $941.33 and its 200-day moving average is $885.08.
Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data on Monday, July 24th. The information services provider reported $5.01 EPS for the quarter, beating analysts’ consensus estimates of $4.43 by $0.58. Alphabet had a net margin of 19.49% and a return on equity of 13.66%. The company had revenue of $26.01 billion during the quarter, compared to the consensus estimate of $25.61 billion. During the same quarter last year, the firm posted $8.42 EPS. The company’s quarterly revenue was up 21.0% on a year-over-year basis. On average, equities research analysts anticipate that Alphabet Inc. will post $30.60 EPS for the current fiscal year.
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Several brokerages have recently issued reports on GOOG. Canaccord Genuity downgraded Alphabet from a “buy” rating to a “hold” rating and set a $1,000.00 price objective for the company. in a research report on Thursday, June 15th. They noted that the move was a valuation call. Pivotal Research reiterated a “hold” rating and set a $980.00 price objective (down from $990.00) on shares of Alphabet in a research report on Monday, July 17th. Susquehanna Bancshares Inc reiterated a “positive” rating and set a $1,200.00 price objective on shares of Alphabet in a research report on Wednesday, June 28th. Credit Suisse Group boosted their price objective on Alphabet from $1,100.00 to $1,150.00 and gave the stock an “outperform” rating in a research report on Friday, April 28th. Finally, Goldman Sachs Group, Inc. (The) reiterated a “buy” rating on shares of Alphabet in a research report on Tuesday, July 25th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, forty have issued a buy rating and one has issued a strong buy rating to the stock. Alphabet presently has an average rating of “Buy” and an average target price of $1,022.32.
Several hedge funds and other institutional investors have recently made changes to their positions in GOOG. State Street Corp increased its position in shares of Alphabet by 0.3% in the first quarter. State Street Corp now owns 12,067,675 shares of the information services provider’s stock worth $10,010,859,000 after buying an additional 36,864 shares during the period. Dodge & Cox bought a new stake in shares of Alphabet during the fourth quarter valued at approximately $2,387,502,000. Norges Bank bought a new stake in shares of Alphabet during the fourth quarter valued at approximately $2,128,163,000. Harbour Capital Advisors LLC increased its stake in shares of Alphabet by 87,001.5% in the second quarter. Harbour Capital Advisors LLC now owns 1,993,754 shares of the information services provider’s stock valued at $2,194,000 after buying an additional 1,991,465 shares during the last quarter. Finally, Bank of Montreal Can increased its stake in shares of Alphabet by 12.0% in the first quarter. Bank of Montreal Can now owns 1,692,542 shares of the information services provider’s stock valued at $1,404,065,000 after buying an additional 181,085 shares during the last quarter. 34.54% of the stock is 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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