Shares of Alphabet Inc (NASDAQ:GOOG) have received an average rating of “Buy” from the thirty-three analysts that are covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and twenty-seven have issued a buy recommendation on the company. The average 1-year price objective among analysts that have covered the stock in the last year is $1,307.47.
A number of equities research analysts recently issued reports on GOOG shares. Barclays reaffirmed a “buy” rating on shares of Alphabet in a research note on Friday, September 14th. Morgan Stanley reaffirmed a “buy” rating on shares of Alphabet in a research note on Wednesday, August 29th. Macquarie reaffirmed a “buy” rating on shares of Alphabet in a research note on Monday, September 10th. BidaskClub downgraded shares of Alphabet from a “buy” rating to a “hold” rating in a research note on Friday, August 17th. Finally, Wells Fargo & Co reissued a “buy” rating on shares of Alphabet in a research note on Thursday, August 23rd.
In other Alphabet news, CEO Sundar Pichai sold 10,000 shares of the stock in a transaction dated Wednesday, September 19th. The shares were sold at an average price of $1,160.42, for a total transaction of $11,604,200.00. Following the transaction, the chief executive officer now directly owns 546 shares in the company, valued at approximately $633,589.32. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP David C. Drummond sold 5,690 shares of the stock in a transaction dated Friday, October 12th. The stock was sold at an average price of $1,115.36, for a total transaction of $6,346,398.40. Following the transaction, the senior vice president now owns 42,558 shares in the company, valued at $47,467,490.88. The disclosure for this sale can be found here. Insiders sold a total of 78,370 shares of company stock worth $94,026,373 in the last ninety days. 13.11% of the stock is currently owned by insiders.
Institutional investors have recently modified their holdings of the business. Braun Bostich & Associates Inc. bought a new position in Alphabet during the 1st quarter worth about $107,000. Litman Gregory Asset Management LLC bought a new position in Alphabet during the 1st quarter worth about $113,000. JJJ Advisors Inc. bought a new position in Alphabet during the 2nd quarter worth about $134,000. ELM Advisors LLC bought a new position in Alphabet during the 3rd quarter worth about $138,000. Finally, Stelac Advisory Services LLC bought a new position in Alphabet during the 1st quarter worth about $145,000. Institutional investors own 34.18% of the company’s stock.
Alphabet stock opened at $1,096.46 on Wednesday. The firm has a market cap of $757.17 billion, a P/E ratio of 26.57 and a beta of 1.11. The company has a current ratio of 4.15, a quick ratio of 4.13 and a debt-to-equity ratio of 0.02. Alphabet has a 52-week low of $960.52 and a 52-week high of $1,273.89.
Alphabet (NASDAQ:GOOG) last released its quarterly earnings results on Monday, July 23rd. The information services provider reported $11.75 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $9.66 by $2.09. The company had revenue of $32.66 billion for the quarter, compared to the consensus estimate of $32.13 billion. Alphabet had a net margin of 13.16% and a return on equity of 18.24%. Alphabet’s revenue was up 25.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $5.01 earnings per share.
Alphabet Company Profile
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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