Alphabet - GOOG Stock Forecast, Price & News

Alphabet Inc. provides 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 offers products and services, including ads, Android, Chrome, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube. It is also involved in the sale of apps and in-app purchases and digital content in the Google Play store; and Fitbit wearable devices, Google Nest home products, Pixel phones, and other devices, as well as in the provision of YouTube non-advertising services. The Google Cloud segment offers infrastructure, platform, and other services; Google Workspace that include cloud-based collaboration tools for enterprises, such as Gmail, Docs, Drive, Calendar, and Meet; and other services for enterprise customers. The Other Bets segment sells health technology and internet services. The company was founded in 1998 and is headquartered in Mountain View, California.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Guggenheim lowered their price objective on Alphabet to $130.00 and set an "outperform" rating for the company in a research report on Wednesday, July 27th. JPMorgan Chase & Co. set a $140.00 price objective on Alphabet in a research report on Thursday, July 21st. Itau BBA Securities started coverage on Alphabet in a report on Tuesday, July 26th. They set a "market perform" rating for the company. Canaccord Genuity Group decreased their target price on Alphabet from $175.00 to $165.00 and set a "buy" rating for the company in a report on Wednesday, April 27th. Finally, The Goldman Sachs Group set a $150.00 target price on Alphabet in a report on Wednesday, July 27th. One research analyst has rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. According to MarketBeat, Alphabet currently has an average rating of "Moderate Buy" and a consensus price target of $158.40.

Alphabet Stock Up 2.4 %

Shares of NASDAQ:GOOG traded up $2.83 during trading on Friday, reaching $122.65. The company had a trading volume of 16,069,398 shares, compared to its average volume of 30,632,490. Alphabet has a 12-month low of $102.21 and a 12-month high of $152.10. The stock has a market cap of $1.62 trillion, a PE ratio of 22.82, a P/E/G ratio of 1.95 and a beta of 1.07. The business's 50-day moving average is $156.54 and its 200 day moving average is $138.09. The company has a quick ratio of 2.78, a current ratio of 2.81 and a debt-to-equity ratio of 0.06.

Alphabet (NASDAQ:GOOG - Get Rating) last released its earnings results on Tuesday, July 26th. The information services provider reported $1.21 EPS for the quarter, missing analysts' consensus estimates of $26.24 by ($25.03). Alphabet had a return on equity of 28.65% and a net margin of 25.89%. During the same period in the previous year, the firm earned $27.26 earnings per share. As a group, equities analysts forecast that Alphabet will post 5.22 earnings per share for the current fiscal year.

Insider Activity at Alphabet

In related news, insider John Kent Walker sold 34,799 shares of the stock in a transaction on Thursday, August 4th. The stock was sold at an average price of $118.25, for a total transaction of $4,114,981.75. Following the sale, the insider now directly owns 18,484 shares of the company's stock, valued at $2,185,733. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, major shareholder 2021 Gp L.L.C. Gv bought 13,528 shares of the stock in a transaction on Tuesday, May 24th. The shares were bought at an average price of $33.72 per share, with a total value of $456,164.16. Following the completion of the acquisition, the insider now owns 593,402 shares in the company, valued at $20,009,515.44. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider John Kent Walker sold 34,799 shares of the stock in a transaction dated Thursday, August 4th. The shares were sold at an average price of $118.25, for a total value of $4,114,981.75. Following the completion of the transaction, the insider now directly owns 18,484 shares in the company, valued at approximately $2,185,733. The disclosure for this sale can be found here. Insiders have sold 42,852 shares of company stock valued at $15,750,955 over the last ninety days. Insiders own 12.99% of the company's stock.