Shares of Alphabet Inc. (NASDAQ:GOOG) have earned an average rating of “Buy” from the thirty-eight research firms that are covering the company, MarketBeat Ratings reports. Six investment analysts have rated the stock with a hold recommendation and thirty-one have issued a buy recommendation on the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $1,144.84.
GOOG has been the subject of a number of research analyst reports. Goldman Sachs reaffirmed a “buy” rating on shares of Alphabet in a research report on Thursday, January 25th. Morgan Stanley reaffirmed a “buy” rating on shares of Alphabet in a research report on Friday, January 26th. Deutsche Bank reaffirmed a “buy” rating on shares of Alphabet in a research report on Monday, January 29th. Vetr raised Alphabet from a “strong sell” rating to a “sell” rating and set a $1,040.56 target price for the company in a research report on Tuesday, January 30th. Finally, JPMorgan Chase reaffirmed a “buy” rating on shares of Alphabet in a research report on Friday, February 2nd.
In other news, CEO Sundar Pichai sold 4,000 shares of the business’s stock in a transaction that occurred on Wednesday, April 4th. The stock was sold at an average price of $993.80, for a total value of $3,975,200.00. Following the transaction, the chief executive officer now owns 940 shares in the company, valued at approximately $934,172. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director L John Doerr sold 11,563 shares of the business’s stock in a transaction that occurred on Tuesday, May 15th. The stock was sold at an average price of $1,081.12, for a total value of $12,500,990.56. Following the completion of the transaction, the director now owns 3,485 shares in the company, valued at approximately $3,767,703.20. The disclosure for this sale can be found here. Insiders sold a total of 53,211 shares of company stock worth $57,322,275 in the last 90 days. Company insiders own 13.11% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Smart Portfolios LLC purchased a new position in Alphabet in the first quarter valued at approximately $103,000. Stuart Chaussee & Associates Inc. lifted its stake in Alphabet by 108.3% in the fourth quarter. Stuart Chaussee & Associates Inc. now owns 100 shares of the information services provider’s stock valued at $105,000 after purchasing an additional 52 shares during the last quarter. Braun Bostich & Associates Inc. purchased a new position in Alphabet in the first quarter valued at approximately $107,000. Litman Gregory Asset Management LLC purchased a new position in Alphabet in the first quarter valued at approximately $113,000. Finally, Price Wealth Management Inc. purchased a new position in Alphabet in the fourth quarter valued at approximately $125,000. Hedge funds and other institutional investors own 34.25% of the company’s stock.
Alphabet opened at $1,069.73 on Friday, MarketBeat Ratings reports. Alphabet has a 1-year low of $894.79 and a 1-year high of $1,186.89. The stock has a market capitalization of $750.25 billion, a PE ratio of 33.38 and a beta of 1.09. The company has a debt-to-equity ratio of 0.02, a current ratio of 4.87 and a quick ratio of 4.85.
Alphabet (NASDAQ:GOOG) last issued its earnings results on Monday, April 23rd. The information services provider reported $9.93 EPS for the quarter, beating analysts’ consensus estimates of $9.28 by $0.65. Alphabet had a return on equity of 15.58% and a net margin of 14.19%. The business had revenue of $31.15 billion during the quarter, compared to analyst estimates of $30.28 billion. During the same period in the previous year, the company posted $7.73 EPS. The firm’s revenue was up 25.8% compared to the same quarter last year.
Alphabet declared that its Board of Directors has authorized a share repurchase program on Thursday, February 1st that allows the company to repurchase $8.59 billion in outstanding shares. This repurchase authorization allows the information services provider to reacquire shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.
Alphabet Inc, through its subsidiaries, provides online advertising services in the United States and internationally. The company offers performance and brand advertising services. It operates through Google and Other Bets segments. The Google segment includes principal Internet products, such as Ads, Android, Chrome, Commerce, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure and newer efforts, including Virtual Reality.
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