Piper Jaffray Companies Boosts Alphabet (GOOG) Price Target to $1,300.00

Alphabet (NASDAQ:GOOG) had its price objective hoisted by Piper Jaffray Companies from $1,150.00 to $1,300.00 in a report issued on Thursday, MarketBeat reports. They currently have an overweight rating on the information services provider’s stock.

GOOG has been the topic of several other research reports. Vetr cut shares of Alphabet from a sell rating to a strong sell rating and set a $949.65 price target on the stock. in a report on Wednesday, January 10th. Royal Bank of Canada reiterated a buy rating on shares of Alphabet in a report on Friday, October 27th. Cantor Fitzgerald restated a buy rating on shares of Alphabet in a report on Friday, October 27th. Robert W. Baird restated an outperform rating and set a $1,100.00 target price on shares of Alphabet in a report on Saturday, September 23rd. Finally, Morgan Stanley restated a buy rating on shares of Alphabet in a report on Friday, October 27th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, thirty-seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of Buy and a consensus price target of $1,052.31.

Alphabet (NASDAQ GOOG) traded up $16.74 during trading hours on Thursday, reaching $1,122.26. 1,708,400 shares of the company traded hands, compared to its average volume of 1,350,000. The company has a market capitalization of $782,650.00, a PE ratio of 37.38 and a beta of 0.94. Alphabet has a twelve month low of $790.52 and a twelve month high of $1,124.29. The company has a current ratio of 5.77, a quick ratio of 5.73 and a debt-to-equity ratio of 0.03.

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

In other Alphabet news, Director L John Doerr sold 12,236 shares of the business’s stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $1,021.57, for a total transaction of $12,499,930.52. Following the completion of the sale, the director now directly owns 3,485 shares in the company, valued at approximately $3,560,171.45. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Sundar Pichai sold 4,000 shares of the business’s stock in a transaction dated Wednesday, October 18th. The shares were sold at an average price of $993.58, for a total value of $3,974,320.00. Following the sale, the chief executive officer now owns 1,471 shares of the company’s stock, valued at $1,461,556.18. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 36,900 shares of company stock valued at $37,877,147. Corporate insiders own 13.92% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in the business. Private Asset Management Inc. grew its stake in shares of Alphabet by 3.9% during the 2nd quarter. Private Asset Management Inc. now owns 8,593 shares of the information services provider’s stock valued at $7,809,000 after acquiring an additional 319 shares during the period. Copper Rock Capital Partners LLC grew its stake in shares of Alphabet by 104.0% during the 2nd quarter. Copper Rock Capital Partners LLC now owns 712 shares of the information services provider’s stock valued at $550,000 after acquiring an additional 363 shares during the period. Pioneer Trust Bank N A OR grew its stake in shares of Alphabet by 3.8% during the 2nd quarter. Pioneer Trust Bank N A OR now owns 3,565 shares of the information services provider’s stock valued at $3,240,000 after acquiring an additional 130 shares during the period. Xact Kapitalforvaltning AB grew its stake in shares of Alphabet by 1.4% during the 2nd quarter. Xact Kapitalforvaltning AB now owns 60,763 shares of the information services provider’s stock valued at $55,217,000 after acquiring an additional 827 shares during the period. Finally, Centre Asset Management LLC boosted its stake in Alphabet by 2.3% in the 2nd quarter. Centre Asset Management LLC now owns 12,699 shares of the information services provider’s stock worth $11,540,000 after purchasing an additional 280 shares during the period. Institutional investors and hedge funds own 34.65% of the company’s stock.

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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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