Alphabet (NASDAQ:GOOG – Get Free Report) had its price objective dropped by analysts at DA Davidson from $375.00 to $350.00 in a research note issued on Thursday. The brokerage presently has a “neutral” rating on the information services provider’s stock. DA Davidson’s price target indicates a potential upside of 10.65% from the company’s previous close.
A number of other equities analysts also recently commented on GOOG. Oppenheimer restated an “outperform” rating and issued a $400.00 price objective (down from $445.00) on shares of Alphabet in a report on Thursday. Wells Fargo & Company reduced their price objective on shares of Alphabet from $418.00 to $411.00 and set an “overweight” rating for the company in a research note on Thursday. TD Cowen upped their price objective on shares of Alphabet from $450.00 to $475.00 and gave the stock a “buy” rating in a report on Tuesday, June 9th. UBS Group reissued a “neutral” rating and set a $379.00 target price (down from $400.00) on shares of Alphabet in a research report on Thursday. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and issued a $450.00 price target on shares of Alphabet in a research report on Thursday, May 21st. Five research analysts have rated the stock with a Strong Buy rating, thirty have assigned a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $408.27.
Read Our Latest Research Report on Alphabet
Alphabet Stock Down 7.5%
Alphabet (NASDAQ:GOOG – Get Free Report) last posted its quarterly earnings results on Thursday, July 23rd. The information services provider reported $9.11 earnings per share for the quarter, topping analysts’ consensus estimates of $2.88 by $6.23. The company had revenue of $119.80 billion during the quarter, compared to the consensus estimate of $117.06 billion. Alphabet had a return on equity of 38.99% and a net margin of 37.92%.The business’s quarterly revenue was up 24.2% on a year-over-year basis. During the same period last year, the business earned $2.31 EPS. On average, analysts forecast that Alphabet will post 14.34 EPS for the current fiscal year.
Insider Activity at Alphabet
In other news, CAO Marsida Saraci sold 449 shares of the stock in a transaction that occurred on Friday, June 26th. The stock was sold at an average price of $341.72, for a total value of $153,432.28. Following the completion of the sale, the chief accounting officer directly owned 27,348 shares of the company’s stock, valued at approximately $9,345,358.56. This represents a 1.62% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder 2019 Gp L.L.C. Gv sold 87,475 shares of the company’s stock in a transaction on Friday, May 15th. The shares were sold at an average price of $23.75, for a total value of $2,077,531.25. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 159,415 shares of company stock valued at $7,672,279. 12.99% of the stock is owned by corporate insiders.
Institutional Trading of Alphabet
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Nvest Wealth Strategies Inc. acquired a new stake in shares of Alphabet during the 4th quarter worth approximately $38,000. Lifetime Wealth Management P.C. acquired a new position in Alphabet in the fourth quarter valued at approximately $38,000. Imprint Wealth LLC bought a new position in Alphabet in the third quarter valued at approximately $31,000. Bard Associates Inc. acquired a new stake in Alphabet during the 4th quarter worth $41,000. Finally, Towne Trust Company N.A grew its holdings in Alphabet by 34.0% during the 4th quarter. Towne Trust Company N.A now owns 134 shares of the information services provider’s stock worth $42,000 after acquiring an additional 34 shares during the period. 27.26% of the stock is currently owned by institutional investors and hedge funds.
Key Alphabet News
Here are the key news stories impacting Alphabet this week:
- Positive Sentiment: Alphabet delivered a strong Q2 beat, with revenue, EPS, and cloud growth all topping expectations, reinforcing the strength of Search, YouTube, and Google Cloud. Google quarterly cloud revenue growth beats expectations
- Positive Sentiment: Google Cloud momentum and rising Gemini usage suggest Alphabet’s AI investments are beginning to show returns, which could support longer-term growth. Alphabet Beats on Cloud Revenue, Posts Strong Gemini Usage
- Positive Sentiment: Analyst sentiment remains constructive, with several firms maintaining buy ratings and raising price targets after the earnings report. Tickerreport.com
- Neutral Sentiment: Alphabet also announced new, cheaper Gemini model updates and work on efficiency-improving AI chips, which may help offset future infrastructure costs if execution improves. Google releases three new Gemini models — but no 3.5 Pro
- Negative Sentiment: Investors are worried Alphabet’s AI capex spree is getting too large, especially after the company raised spending guidance and reported negative free cash flow. Alphabet’s cash burn raises alarm for Big Tech as AI spending climbs
- Negative Sentiment: Alphabet also faces added regulatory pressure after the EU hit Google with a roughly $1 billion antitrust fine over Search and Play Store practices. Google hit with $1 billion EU fine, first under landmark rules
About Alphabet
Alphabet Inc (NASDAQ: GOOG) is a multinational technology holding company headquartered in Mountain View, California. Formed in 2015 through a corporate restructuring of Google, Alphabet serves as the parent to Google LLC and a portfolio of businesses collectively known as “Other Bets.” Google was originally founded in 1998 by Larry Page and Sergey Brin; Alphabet is led by CEO Sundar Pichai, who oversees Google and the broader company while the founders remain prominent shareholders and influential figures in the company’s history.
Alphabet’s core business centers on internet search and advertising, with Google Search and the company’s ad platforms (including Google Ads and AdSense) generating the majority of revenue by connecting advertisers with consumers worldwide.
See Also
- Five stocks we like better than Alphabet
- AMD’s $5 Billion Anthropic Deal Could Redraw the AI Chip Battle
- The 2026 Blueprint: 6 Stocks for a Brand New Portfolio
- Philip Morris Trimmed Guidance, But Its Growth Story Looks Unshaken
- Cementing the Sky: Why NVIDIA’s Bet on Nebius Matters
Receive News & Ratings for Alphabet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alphabet and related companies with MarketBeat.com's FREE daily email newsletter.
