Alphabet Inc. (NASDAQ:GOOG) Receives Buy Rating from J P Morgan Chase & Co

Alphabet Inc. (NASDAQ:GOOG)‘s stock had its “buy” rating reissued by J P Morgan Chase & Co in a report issued on Friday, October 27th.

Other equities analysts also recently issued reports about the company. Vetr downgraded Alphabet from a “strong-buy” rating to a “buy” rating and set a $1,047.63 price objective on the stock. in a research report on Wednesday, July 12th. Societe Generale restated a “buy” rating on shares of Alphabet in a research report on Friday, July 7th. BidaskClub cut Alphabet from a “strong-buy” rating to a “buy” rating in a report on Wednesday, July 5th. Goldman Sachs Group, Inc. (The) reaffirmed a “buy” rating on shares of Alphabet in a report on Wednesday, July 5th. Finally, Deutsche Bank AG reaffirmed a “buy” rating and issued a $1,220.00 target price on shares of Alphabet in a report on Friday, July 21st. One analyst has rated the stock with a sell rating, six have issued a hold rating and thirty-nine have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $1,047.52.

Alphabet (NASDAQ GOOG) traded down $5.09 during midday trading on Friday, reaching $1,020.91. The company had a trading volume of 853,900 shares, compared to its average volume of 1,492,455. Alphabet has a 12 month low of $737.02 and a 12 month high of $1,048.39. The stock has a market capitalization of $718,270.00, a P/E ratio of 34.34 and a beta of 0.96. The company has a quick ratio of 5.73, a current ratio of 5.77 and a debt-to-equity ratio of 0.03.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data on Thursday, October 26th. The information services provider reported $9.57 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $8.31 by $1.26. Alphabet had a return on equity of 14.26% and a net margin of 20.09%. The business had revenue of $27.77 billion for the quarter, compared to the consensus estimate of $27.17 billion. During the same period in the previous year, the business earned $9.06 earnings per share. The business’s revenue was up 23.7% on a year-over-year basis.

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In other news, Director Ann Mather sold 37 shares of the stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $940.67, for a total transaction of $34,804.79. Following the sale, the director now directly owns 1,789 shares of the company’s stock, valued at approximately $1,682,858.63. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Sundar Pichai sold 4,000 shares of the stock in a transaction dated Wednesday, September 20th. The stock was sold at an average price of $924.36, for a total transaction of $3,697,440.00. Following the sale, the chief executive officer now directly owns 1,324 shares in the company, valued at $1,223,852.64. The disclosure for this sale can be found here. Over the last three months, insiders have sold 22,158 shares of company stock worth $21,355,239. Corporate insiders own 13.92% of the company’s stock.

A number of institutional investors have recently modified their holdings of GOOG. Burt Wealth Advisors lifted its stake in Alphabet by 17.2% in the 2nd 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 lifted its stake in Alphabet by 3.8% in the 2nd 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. lifted its stake in Alphabet by 39.6% in the 2nd 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 lifted its stake in Alphabet by 15.0% in the 1st 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 in the last quarter. Finally, Archford Capital Strategies LLC lifted its stake in Alphabet by 400.0% in the 2nd quarter. Archford Capital Strategies LLC now owns 1,040 shares of the information services provider’s stock valued at $139,000 after buying an additional 832 shares in the last quarter. 34.28% of the stock is currently owned by hedge funds and other 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.

Analyst Recommendations for Alphabet (NASDAQ:GOOG)

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