Alphabet (NASDAQ:GOOG - Get Free Report) had its price target lifted by equities researchers at Scotiabank from $200.00 to $240.00 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has a "sector outperform" rating on the information services provider's stock. Scotiabank's price objective would indicate a potential upside of 25.24% from the company's previous close.
A number of other research analysts have also commented on GOOG. Raymond James Financial reiterated an "outperform" rating on shares of Alphabet in a research note on Wednesday, July 9th. Cantor Fitzgerald reaffirmed a "neutral" rating and issued a $171.00 price target on shares of Alphabet in a research note on Friday, April 25th. Citizens Jmp upgraded Alphabet from a "hold" rating to a "strong-buy" rating in a report on Thursday, June 26th. Needham & Company LLC cut shares of Alphabet from a "buy" rating to a "cautious" rating in a research report on Friday, May 2nd. Finally, Rosenblatt Securities raised Alphabet from a "hold" rating to a "strong-buy" rating in a research note on Friday, April 25th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating, seventeen have issued a buy rating and five have issued a strong buy rating to the company. Based on data from MarketBeat.com, Alphabet currently has an average rating of "Moderate Buy" and an average price target of $211.07.
Check Out Our Latest Stock Analysis on GOOG
Alphabet Price Performance
Shares of Alphabet stock traded up $0.48 on Tuesday, reaching $191.63. The stock had a trading volume of 15,316,178 shares, compared to its average volume of 21,576,085. The business's 50 day moving average is $174.02 and its two-hundred day moving average is $174.50. The company has a market cap of $2.33 trillion, a P/E ratio of 21.37, a price-to-earnings-growth ratio of 1.30 and a beta of 1.01. Alphabet has a 1 year low of $142.66 and a 1 year high of $208.70. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 0.03.
Alphabet (NASDAQ:GOOG - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.02 by $0.79. The company had revenue of $90.23 billion for the quarter, compared to the consensus estimate of $89.30 billion. Alphabet had a net margin of 30.86% and a return on equity of 34.54%. Alphabet's revenue was up 12.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.89 earnings per share. As a group, research analysts anticipate that Alphabet will post 8.89 EPS for the current year.
Insider Buying and Selling
In related news, Director Kavitark Ram Shriram sold 18,566 shares of the firm's stock in a transaction that occurred on Friday, July 18th. The stock was sold at an average price of $185.76, for a total value of $3,448,820.16. Following the sale, the director directly owned 243,400 shares in the company, valued at $45,213,984. This trade represents a 7.09% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the company's stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $178.52, for a total value of $5,801,900.00. Following the sale, the chief executive officer directly owned 2,559,892 shares of the company's stock, valued at approximately $456,991,919.84. This represents a 1.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 249,409 shares of company stock worth $43,523,710. 12.99% of the stock is currently owned by company insiders.
Hedge Funds Weigh In On Alphabet
A number of institutional investors have recently bought and sold shares of GOOG. Vanguard Group Inc. raised its stake in shares of Alphabet by 2.4% during the 1st quarter. Vanguard Group Inc. now owns 411,570,922 shares of the information services provider's stock valued at $64,299,725,000 after purchasing an additional 9,687,855 shares during the period. Kingstone Capital Partners Texas LLC boosted its stake in Alphabet by 580,897.4% in the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 135,087,705 shares of the information services provider's stock worth $23,963,208,000 after purchasing an additional 135,064,454 shares in the last quarter. FMR LLC raised its position in Alphabet by 2.8% in the 4th quarter. FMR LLC now owns 117,991,725 shares of the information services provider's stock worth $22,470,344,000 after buying an additional 3,189,592 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Alphabet by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 104,777,092 shares of the information services provider's stock worth $19,894,651,000 after acquiring an additional 1,219,606 shares during the period. Finally, JPMorgan Chase & Co. boosted its stake in shares of Alphabet by 9.9% during the 1st quarter. JPMorgan Chase & Co. now owns 102,232,997 shares of the information services provider's stock worth $15,971,861,000 after acquiring an additional 9,243,959 shares during the last quarter. Institutional investors and hedge funds own 27.26% of the company's stock.
About Alphabet
(
Get Free Report)
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.
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