Alphabet (NASDAQ:GOOGL - Get Free Report)'s stock had its "buy (b)" rating reiterated by stock analysts at Weiss Ratings in a research note issued on Friday,Weiss Ratings reports.
Other equities research analysts have also issued reports about the stock. Tigress Financial increased their target price on shares of Alphabet from $240.00 to $280.00 and gave the stock a "strong-buy" rating in a research note on Friday, September 5th. JMP Securities reissued a "market outperform" rating and set a $290.00 target price on shares of Alphabet in a research note on Wednesday. Westpark Capital increased their target price on shares of Alphabet from $210.00 to $220.00 and gave the stock a "buy" rating in a research note on Thursday, July 24th. Citizens Jmp increased their target price on shares of Alphabet from $250.00 to $290.00 and gave the stock an "outperform" rating in a research note on Friday, September 19th. Finally, Citigroup increased their target price on shares of Alphabet from $225.00 to $280.00 and gave the stock a "buy" rating in a research note on Monday, September 15th. Four equities research analysts have rated the stock with a Strong Buy rating, thirty-four have assigned a Buy rating and ten have given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $263.20.
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Alphabet Stock Performance
GOOGL traded up $7.04 during midday trading on Friday, hitting $260.12. 20,604,021 shares of the company were exchanged, compared to its average volume of 35,785,363. The company's 50 day simple moving average is $235.60 and its 200 day simple moving average is $194.45. The firm has a market capitalization of $3.15 trillion, a price-to-earnings ratio of 27.71, a price-to-earnings-growth ratio of 1.70 and a beta of 1.00. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. Alphabet has a 1-year low of $140.53 and a 1-year high of $261.68.
Alphabet (NASDAQ:GOOGL - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, topping the consensus estimate of $2.15 by $0.16. The company had revenue of $96.43 billion for the quarter, compared to the consensus estimate of $93.60 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. As a group, sell-side analysts predict that Alphabet will post 8.9 earnings per share for the current year.
Insider Buying and Selling at Alphabet
In other news, Director John L. Hennessy sold 600 shares of the firm's stock in a transaction that occurred on Monday, October 13th. The shares were sold at an average price of $242.92, for a total transaction of $145,752.00. Following the completion of the sale, the director owned 5,116 shares in the company, valued at $1,242,778.72. This trade represents a 10.50% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider John Kent Walker sold 17,816 shares of the firm's stock in a transaction that occurred on Monday, September 29th. The stock was sold at an average price of $247.42, for a total transaction of $4,408,034.72. Following the sale, the insider owned 42,985 shares of the company's stock, valued at $10,635,348.70. This represents a 29.30% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 246,150 shares of company stock worth $55,805,379. Insiders own 11.64% of the company's stock.
Institutional Trading of Alphabet
Several institutional investors have recently added to or reduced their stakes in the stock. Corundum Group Inc. increased its holdings in Alphabet by 0.8% in the 3rd quarter. Corundum Group Inc. now owns 11,010 shares of the information services provider's stock valued at $2,677,000 after purchasing an additional 90 shares during the last quarter. Macroview Investment Management LLC increased its holdings in Alphabet by 2.2% in the 3rd quarter. Macroview Investment Management LLC now owns 2,305 shares of the information services provider's stock valued at $560,000 after purchasing an additional 49 shares during the last quarter. Atlantic Edge Private Wealth Management LLC increased its holdings in Alphabet by 6.4% in the 3rd quarter. Atlantic Edge Private Wealth Management LLC now owns 24,391 shares of the information services provider's stock valued at $5,929,000 after purchasing an additional 1,467 shares during the last quarter. Citizens & Northern Corp acquired a new stake in Alphabet in the 3rd quarter valued at approximately $235,000. Finally, Warwick Investment Management Inc. increased its holdings in Alphabet by 29.7% in the 3rd quarter. Warwick Investment Management Inc. now owns 7,105 shares of the information services provider's stock valued at $1,727,000 after purchasing an additional 1,626 shares during the last quarter. Institutional investors and hedge funds own 40.03% of the company's stock.
Alphabet Company Profile
(
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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.
Further Reading
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