Alphabet Inc. (NASDAQ:GOOG)‘s stock had its “buy” rating restated by equities research analysts at Morgan Stanley in a report released on Friday, October 27th.
GOOG has been the subject of a number of other research reports. Citigroup Inc. reiterated a “buy” rating and issued a $1,180.00 price objective on shares of Alphabet in a report on Thursday, July 27th. BidaskClub upgraded shares of Alphabet from a “hold” rating to a “buy” rating in a report on Friday, August 25th. Goldman Sachs Group, Inc. (The) restated a “buy” rating on shares of Alphabet in a report on Friday, October 20th. Wells Fargo & Company restated a “buy” rating on shares of Alphabet in a report on Friday, October 6th. Finally, Vetr downgraded shares of Alphabet from a “strong-buy” rating to a “buy” rating and set a $1,031.46 target price for the company. in a report on Tuesday, August 22nd. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirty-eight have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $1,045.44.
Alphabet (NASDAQ:GOOG) traded down $3.19 during trading hours on Friday, reaching $1,028.07. 720,600 shares of the company’s stock traded hands, compared to its average volume of 1,500,613. The company has a debt-to-equity ratio of 0.03, a quick ratio of 5.73 and a current ratio of 5.77. Alphabet has a one year low of $727.54 and a one year high of $1,048.39. The stock has a market capitalization of $716,520.50, a price-to-earnings ratio of 34.53 and a beta of 0.95.
Alphabet (NASDAQ:GOOG) last posted its earnings results on Thursday, October 26th. The information services provider reported $9.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.31 by $1.26. The business had revenue of $27.77 billion for the quarter, compared to analyst estimates of $27.17 billion. Alphabet had a net margin of 20.09% and a return on equity of 14.26%. The company’s revenue for the quarter was up 23.7% on a year-over-year basis. During the same period in the prior year, the company posted $9.06 EPS.
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In other news, Director Ann Mather sold 38 shares of the business’s stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $1,017.21, for a total value of $38,653.98. Following the sale, the director now owns 1,805 shares in the company, valued at approximately $1,836,064.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sundar Pichai sold 4,000 shares of the business’s stock in a transaction on Wednesday, September 20th. The shares were sold at an average price of $924.36, for a total transaction of $3,697,440.00. Following the completion of the sale, the chief executive officer now owns 1,324 shares in the company, valued at approximately $1,223,852.64. The disclosure for this sale can be found here. In the last three months, insiders sold 41,714 shares of company stock worth $39,425,705. Insiders own 13.92% of the company’s stock.
Large investors have recently made changes to their positions in the business. Burt Wealth Advisors raised its holdings in Alphabet by 17.2% during the 2nd quarter. Burt Wealth Advisors now owns 136 shares of the information services provider’s stock worth $123,000 after purchasing an additional 20 shares during the last quarter. Signature Estate & Investment Advisors LLC raised its holdings in Alphabet by 3.8% during the 2nd quarter. Signature Estate & Investment Advisors LLC now owns 137 shares of the information services provider’s stock worth $124,000 after purchasing an additional 5 shares during the last quarter. Riggs Asset Managment Co. Inc. raised its holdings in Alphabet by 39.6% during the 2nd quarter. Riggs Asset Managment Co. Inc. now owns 141 shares of the information services provider’s stock worth $128,000 after purchasing an additional 40 shares during the last quarter. Farmers National Bank increased its stake in shares of 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 acquiring an additional 21 shares during the last quarter. Finally, Almanack Investment Partners LLC. increased its stake in shares of Alphabet by 4.5% in the 2nd quarter. Almanack Investment Partners LLC. now owns 162 shares of the information services provider’s stock valued at $147,000 after acquiring an additional 7 shares during the last quarter. 34.50% of the stock is 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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