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.

Alphabet Stock Down 0.5 %

Shares of GOOG traded down $0.65 during mid-day trading on Friday, hitting $118.22. 15,615,663 shares of the company's stock were exchanged, compared to its average volume of 29,612,324. The firm has a fifty day moving average of $156.19 and a two-hundred day moving average of $138.48. Alphabet has a twelve month low of $102.21 and a twelve month high of $152.10. The stock has a market cap of $1.56 trillion, a price-to-earnings ratio of 21.99, a P/E/G ratio of 1.91 and a beta of 1.07. 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 announced its quarterly earnings results on Tuesday, July 26th. The information services provider reported $1.21 EPS for the quarter, missing the consensus estimate 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 quarter last year, the business posted $27.26 EPS. On average, sell-side analysts forecast that Alphabet will post 5.22 earnings per share for the current year.

Wall Street Analysts Forecast Growth

GOOG has been the subject of several recent analyst reports. Evercore ISI lowered their target price on shares of Alphabet from $165.00 to $155.50 and set an "outperform" rating for the company in a research note on Thursday, July 7th. Cowen lowered their price objective on shares of Alphabet from $300.00 to $150.00 in a research note on Monday, July 25th. Oppenheimer lowered their price objective on shares of Alphabet from $3,290.00 to $165.00 in a research note on Tuesday, July 19th. Canaccord Genuity Group lowered their price objective on shares of Alphabet from $175.00 to $165.00 and set a "buy" rating for the company in a research note on Wednesday, April 27th. Finally, Guggenheim lowered their price objective on shares of Alphabet to $130.00 and set an "outperform" rating for the company in a research note on Wednesday, July 27th. One equities research analyst has rated the stock with a hold rating and nineteen have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $158.40.

Insider Buying and Selling at Alphabet

In related news, major shareholder 2021 Gp L.L.C. Gv purchased 255,647 shares of Alphabet stock in a transaction on Tuesday, May 10th. The stock was purchased at an average cost of $34.65 per share, with a total value of $8,858,168.55. Following the acquisition, the insider now directly owns 479,695 shares in the company, valued at $16,621,431.75. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. In related news, major shareholder 2021 Gp L.L.C. Gv purchased 255,647 shares of Alphabet stock in a transaction on Tuesday, May 10th. The stock was purchased at an average cost of $34.65 per share, with a total value of $8,858,168.55. Following the acquisition, the insider now directly owns 479,695 shares in the company, valued at $16,621,431.75. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Prabhakar Raghavan sold 1,109 shares of the stock in a transaction on Friday, July 1st. The shares were sold at an average price of $2,166.74, for a total transaction of $2,402,914.66. Following the completion of the sale, the senior vice president now directly owns 1,608 shares of the company's stock, valued at $3,484,117.92. The disclosure for this sale can be found here. Insiders sold a total of 42,383 shares of company stock valued at $15,761,666 in the last ninety days. Company insiders own 12.99% of the company's stock.