Alphabet’s (NASDAQ:GOOG) “Outperform” Rating Reaffirmed at Royal Bank Of Canada

Alphabet Inc. (NASDAQ:GOOG)‘s stock had its “outperform” rating restated by investment analysts at Royal Bank Of Canada in a research report issued on Monday, September 11th. They currently have a $1,050.00 target price on the information services provider’s stock. Royal Bank Of Canada’s price objective indicates a potential upside of 12.61% from the company’s previous close.

Other equities research analysts have also issued reports about the company. UBS AG restated a “buy” rating and set a $1,050.00 price target on shares of Alphabet in a research note on Monday, May 15th. Morgan Stanley restated a “buy” rating on shares of Alphabet in a research note on Monday, May 29th. J P Morgan Chase & Co restated a “buy” rating on shares of Alphabet in a research note on Tuesday, July 25th. Canaccord Genuity restated a “hold” rating and set a $1,000.00 price target on shares of Alphabet in a research note on Thursday, July 27th. Finally, SunTrust Banks, Inc. started coverage on Alphabet in a research report on Wednesday, August 16th. They issued a “buy” rating and a $1,100.00 target price for the company. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and forty-one have given a buy rating to the company’s stock. Alphabet currently has an average rating of “Buy” and an average target price of $1,031.14.

Shares of Alphabet (GOOG) traded down 0.16% during mid-day trading on Monday, reaching $930.97. 105,298 shares of the company traded hands. Alphabet has a 52 week low of $727.54 and a 52 week high of $988.25. The firm has a 50 day moving average of $924.03 and a 200-day moving average of $909.94. The stock has a market capitalization of $645.05 billion, a PE ratio of 33.74 and a beta of 0.94.

Alphabet (NASDAQ:GOOG) last released its earnings results on Monday, July 24th. The information services provider reported $5.01 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $4.43 by $0.58. The firm had revenue of $26.01 billion during 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 business’s quarterly revenue was up 21.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $8.42 earnings per share. On average, equities research analysts expect that Alphabet will post $30.59 EPS for the current fiscal year.

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In related news, VP James Grier Campbell sold 183 shares of the business’s stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $911.16, for a total value of $166,742.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Sundar Pichai sold 4,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 5th. The stock was sold at an average price of $903.86, for a total transaction of $3,615,440.00. Following the completion of the transaction, the chief executive officer now owns 1,911 shares of the company’s stock, valued at approximately $1,727,276.46. The disclosure for this sale can be found here. Insiders sold a total of 42,680 shares of company stock valued at $39,700,363 in the last 90 days. 13.92% of the stock is currently owned by corporate insiders.

Institutional investors have recently modified their holdings of the business. Burt Wealth Advisors raised its position in shares of Alphabet by 17.2% during the 2nd quarter. Burt Wealth Advisors now owns 136 shares of the information services provider’s stock valued at $123,000 after acquiring an additional 20 shares during the last quarter. Signature Estate & Investment Advisors LLC raised its position in shares of Alphabet by 3.8% during the 2nd quarter. Signature Estate & Investment Advisors LLC now owns 137 shares of the information services provider’s stock valued at $124,000 after acquiring an additional 5 shares during the last quarter. Riggs Asset Managment Co. Inc. raised its position in shares of Alphabet by 39.6% during the 2nd quarter. Riggs Asset Managment Co. Inc. now owns 141 shares of the information services provider’s stock valued at $128,000 after acquiring an additional 40 shares during the last quarter. Farmers National Bank raised its position in shares of Alphabet by 15.0% during the 1st quarter. Farmers National Bank now owns 161 shares of the information services provider’s stock valued at $134,000 after acquiring an additional 21 shares during the last quarter. Finally, Archford Capital Strategies LLC raised its position in shares of Alphabet by 400.0% during the 2nd quarter. Archford Capital Strategies LLC now owns 1,040 shares of the information services provider’s stock valued at $139,000 after acquiring an additional 832 shares during the last quarter. Institutional investors own 34.52% of the company’s stock.

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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