Alphabet Inc. (NASDAQ:GOOG) had its price target lifted by Pivotal Research from $940.00 to $970.00 in a report issued on Thursday, MarketBeat.com reports. They currently have a hold rating on the information services provider’s stock.
A number of other research analysts also recently commented on GOOG. Macquarie reissued an outperform rating and set a $995.00 target price on shares of Alphabet in a research report on Friday, October 6th. Wells Fargo & Company reissued a buy rating on shares of Alphabet in a research report on Friday, October 6th. Vetr downgraded shares of Alphabet from a buy rating to a hold rating and set a $988.73 target price on the stock. in a research report on Monday, October 2nd. Morgan Stanley reissued a buy rating on shares of Alphabet in a research report on Friday, September 29th. Finally, Bank of America Corporation reissued a buy rating and set a $1,100.00 target price on shares of Alphabet in a research report on Tuesday, September 26th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and thirty-nine have assigned a buy rating to the company. The stock presently has an average rating of Buy and a consensus target price of $1,034.07.
Alphabet (NASDAQ:GOOG) opened at 989.68 on Thursday. The stock has a market cap of $685.73 billion, a PE ratio of 35.87 and a beta of 0.94. The company’s 50 day moving average is $942.88 and its 200 day moving average is $925.82. Alphabet has a 12 month low of $727.54 and a 12 month high of $997.21.
Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data on Monday, July 24th. The information services provider reported $5.01 earnings per share 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 analyst estimates of $25.61 billion. During the same quarter last year, the business posted $8.42 EPS. The firm’s revenue for the quarter was up 21.0% on a year-over-year basis. On average, analysts anticipate that Alphabet will post $30.62 EPS for the current fiscal year.
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In other news, Director L John Doerr sold 13,556 shares of the firm’s stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $922.15, for a total transaction of $12,500,665.40. Following the transaction, the director now directly owns 3,485 shares in the company, valued at $3,213,692.75. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Sundar Pichai sold 4,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 19th. The stock was sold at an average price of $969.92, for a total transaction of $3,879,680.00. Following the transaction, the chief executive officer now owns 1,536 shares in the company, valued at $1,489,797.12. The disclosure for this sale can be found here. Insiders sold 40,694 shares of company stock worth $38,042,264 over the last quarter. 13.92% of the stock is currently owned by insiders.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Private Asset Management Inc. grew its position in shares of Alphabet by 0.9% during the third quarter. Private Asset Management Inc. now owns 8,671 shares of the information services provider’s stock worth $8,671,000 after acquiring an additional 78 shares during the last quarter. Curbstone Financial Management Corp lifted its holdings in shares of Alphabet by 100.6% during the third quarter. Curbstone Financial Management Corp now owns 3,184 shares of the information services provider’s stock worth $3,054,000 after purchasing an additional 1,597 shares during the period. Bridges Investment Management Inc. lifted its holdings in shares of Alphabet by 1.7% during the third quarter. Bridges Investment Management Inc. now owns 10,185 shares of the information services provider’s stock worth $9,769,000 after purchasing an additional 172 shares during the period. Perpetual Ltd lifted its holdings in shares of Alphabet by 186.1% during the second quarter. Perpetual Ltd now owns 68,392 shares of the information services provider’s stock worth $63,068,000 after purchasing an additional 44,488 shares during the period. Finally, MPS Loria Financial Planners LLC acquired a new stake in shares of Alphabet during the second quarter worth $478,000. Institutional investors and hedge funds own 34.52% of the company’s stock.
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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