Alphabet's (GOOG) "Buy" Rating Reaffirmed at Westpark Capital

Alphabet (NASDAQ:GOOG - Get Free Report)'s stock had its "buy" rating restated by stock analysts at Westpark Capital in a research note issued on Friday,Benzinga reports. They currently have a $210.00 price objective on the information services provider's stock. Westpark Capital's price objective suggests a potential upside of 29.37% from the company's previous close.

GOOG has been the topic of several other reports. Scotiabank reduced their price target on Alphabet from $232.00 to $200.00 and set a "sector outperform" rating on the stock in a research report on Monday, April 21st. Cantor Fitzgerald reaffirmed a "neutral" rating and set a $171.00 price objective on shares of Alphabet in a research report on Friday. Citigroup reaffirmed a "sell" rating on shares of Alphabet in a research report on Wednesday, April 23rd. Benchmark restated a "negative" rating on shares of Alphabet in a report on Wednesday, February 5th. Finally, Citizens Jmp cut shares of Alphabet from a "strong-buy" rating to a "hold" rating in a research report on Thursday, January 2nd. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, fourteen have issued a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $203.94.

Alphabet Stock Down 0.1 %

Alphabet stock traded down $0.10 during mid-day trading on Friday, hitting $162.32. 9,855,233 shares of the company's stock were exchanged, compared to its average volume of 19,282,297. The stock has a 50 day moving average of $163.76 and a two-hundred day moving average of $177.34. Alphabet has a 1-year low of $142.66 and a 1-year high of $208.70. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03. The stock has a market cap of $1.98 trillion, a P/E ratio of 20.17, a P/E/G ratio of 1.34 and a beta of 1.04.

Alphabet (NASDAQ:GOOG - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.02 by $0.79. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. The firm had revenue of $90.23 billion for the quarter, compared to analyst estimates of $89.30 billion. During the same quarter in the previous year, the firm posted $1.89 EPS. The business's revenue for the quarter was up 12.0% on a year-over-year basis. As a group, analysts anticipate that Alphabet will post 8.89 EPS for the current fiscal year.

Insider Activity

In other Alphabet news, CAO Amie Thuener O'toole sold 1,340 shares of Alphabet stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $202.08, for a total transaction of $270,787.20. Following the completion of the transaction, the chief accounting officer now owns 17,848 shares in the company, valued at approximately $3,606,723.84. The trade was a 6.98 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the company's stock in a transaction dated Wednesday, April 16th. The stock was sold at an average price of $156.16, for a total transaction of $5,075,200.00. Following the completion of the sale, the chief executive officer now directly owns 2,685,196 shares of the company's stock, valued at $419,320,207.36. The trade was a 1.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 148,163 shares of company stock valued at $25,361,647. Insiders own 12.99% of the company's stock.

Hedge Funds Weigh In On Alphabet

Several institutional investors and hedge funds have recently bought and sold shares of GOOG. Fiduciary Advisors Inc. purchased a new stake in Alphabet in the 4th quarter worth approximately $27,000. LSV Asset Management purchased a new position in shares of Alphabet in the fourth quarter worth about $27,000. Principia Wealth Advisory LLC lifted its position in Alphabet by 111.8% in the first quarter. Principia Wealth Advisory LLC now owns 161 shares of the information services provider's stock valued at $26,000 after purchasing an additional 85 shares during the last quarter. MorganRosel Wealth Management LLC bought a new stake in Alphabet in the 1st quarter worth $26,000. Finally, WealthTrak Capital Management LLC bought a new position in Alphabet during the 4th quarter valued at approximately $38,000. 27.26% of the stock is owned by institutional investors.

About Alphabet

Alphabet Inc offers various products and platforms in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment provides products and services, including ads, Android, Chrome, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.