Alphabet Inc. (NASDAQ:GOOG)‘s stock had its “outperform” rating reaffirmed by stock analysts at Macquarie in a research report issued on Friday, October 6th. They presently have a $995.00 price objective on the information services provider’s stock. Macquarie’s price objective would suggest a potential upside of 0.22% from the company’s previous close.
Other research analysts also recently issued research reports about the company. Goldman Sachs Group, Inc. (The) restated a “buy” rating on shares of Alphabet in a research note on Wednesday, July 5th. MKM Partners reaffirmed a “buy” rating and set a $1,170.00 price target on shares of Alphabet in a research report on Wednesday, June 28th. Vetr raised Alphabet from a “hold” rating to a “buy” rating and set a $995.83 price objective on the stock in a report on Monday, June 26th. Moffett Nathanson reissued a “buy” rating on shares of Alphabet in a report on Friday, June 9th. Finally, Deutsche Bank AG reissued a “buy” rating on shares of Alphabet in a report on Monday, June 12th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirty-nine have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $1,034.07.
Alphabet (NASDAQ:GOOG) opened at 992.81 on Friday. Alphabet has a 1-year low of $727.54 and a 1-year high of $997.21. The firm has a 50 day moving average of $948.57 and a 200 day moving average of $928.63. The firm has a market cap of $687.90 billion, a P/E ratio of 35.98 and a beta of 0.94.
Alphabet (NASDAQ:GOOG) last released its quarterly earnings data 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 the consensus estimate of $25.61 billion. Alphabet had a return on equity of 13.66% and a net margin of 19.49%. The company’s quarterly revenue was up 21.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $8.42 earnings per share. On average, equities research analysts expect that Alphabet will post $30.62 EPS for the current year.
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In related news, Director Ann Mather sold 38 shares of the business’s stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $959.26, for a total transaction of $36,451.88. Following the transaction, the director now owns 1,797 shares of the company’s stock, valued at $1,723,790.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Sundar Pichai sold 4,000 shares of the business’s stock in a transaction on Wednesday, October 18th. The stock was sold at an average price of $993.58, for a total transaction of $3,974,320.00. The disclosure for this sale can be found here. Insiders sold 40,694 shares of company stock valued at $38,136,904 over the last quarter. Corporate insiders own 13.92% of the company’s stock.
Institutional investors have recently made changes to their positions in the business. Doyle Wealth Management grew its holdings in shares of Alphabet by 6.7% in the 2nd quarter. Doyle Wealth Management now owns 3,182 shares of the information services provider’s stock worth $2,891,000 after purchasing an additional 200 shares during the last quarter. Carret Asset Management LLC grew its holdings in shares of Alphabet by 1.5% in the 1st quarter. Carret Asset Management LLC now owns 9,982 shares of the information services provider’s stock worth $8,281,000 after purchasing an additional 145 shares during the last quarter. Adviser Investments LLC bought a new stake in shares of Alphabet in the 1st quarter worth about $1,276,000. Rothschild Investment Corp IL grew its holdings in shares of Alphabet by 1.7% in the 2nd quarter. Rothschild Investment Corp IL now owns 10,809 shares of the information services provider’s stock worth $9,823,000 after purchasing an additional 184 shares during the last quarter. Finally, Hartford Investment Management Co. grew its holdings in shares of Alphabet by 6.1% in the 1st quarter. Hartford Investment Management Co. now owns 79,529 shares of the information services provider’s stock worth $65,974,000 after purchasing an additional 4,602 shares during the last quarter. 34.52% 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.
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