Alphabet (NASDAQ:GOOG) Given “Buy” Rating at TD Cowen

Alphabet (NASDAQ:GOOG)‘s stock had its “buy” rating reissued by analysts at TD Cowen in a research report issued on Thursday,Benzinga reports. They currently have a $475.00 price target on the information services provider’s stock. TD Cowen’s target price suggests a potential upside of 48.72% from the company’s current price.

Several other analysts also recently weighed in on the company. Zacks Research raised Alphabet from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 7th. Wells Fargo & Company lowered their price target on Alphabet from $418.00 to $411.00 and set an “overweight” rating on the stock in a report on Thursday. Scotiabank restated an “outperform” rating and set a $450.00 price objective (up from $400.00) on shares of Alphabet in a research note on Thursday, April 30th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $450.00 price objective on shares of Alphabet in a report on Thursday, May 21st. Finally, Citigroup reiterated a “market outperform” rating on shares of Alphabet in a research report on Wednesday. Five research analysts have rated the stock with a Strong Buy rating, thirty have assigned a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $411.30.

Alphabet Stock Performance

Shares of GOOG traded down $22.52 during mid-day trading on Thursday, reaching $319.39. 28,246,179 shares of the company’s stock traded hands, compared to its average volume of 21,460,461. The business’s 50-day moving average price is $363.69 and its 200-day moving average price is $337.49. The stock has a market capitalization of $3.87 trillion, a P/E ratio of 24.36, a price-to-earnings-growth ratio of 1.43 and a beta of 1.23. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.92 and a current ratio of 1.92. Alphabet has a 12 month low of $188.70 and a 12 month high of $404.47.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings data on Thursday, July 23rd. The information services provider reported $9.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.88 by $6.23. Alphabet had a return on equity of 38.99% and a net margin of 37.92%.The business had revenue of $119.80 billion during the quarter, compared to the consensus estimate of $117.06 billion. During the same period in the previous year, the firm posted $2.31 earnings per share. The business’s revenue was up 24.2% on a year-over-year basis. Equities analysts predict that Alphabet will post 14.34 earnings per share for the current year.

Insider Activity at Alphabet

In other news, CAO Marsida Saraci sold 449 shares of the business’s stock in a transaction 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 sale, the chief accounting officer owned 27,348 shares of the company’s stock, valued at approximately $9,345,358.56. The trade was a 1.62% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 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. The disclosure for this sale is available in the SEC filing. Insiders sold 159,415 shares of company stock worth $7,672,279 in the last quarter. Company insiders own 12.99% of the company’s stock.

Hedge Funds Weigh In On Alphabet

Several large investors have recently made changes to their positions in the business. Kathmere Capital Management LLC boosted its holdings in shares of Alphabet by 8.5% during the fourth quarter. Kathmere Capital Management LLC now owns 29,896 shares of the information services provider’s stock worth $9,381,000 after acquiring an additional 2,341 shares during the period. Gerber Kawasaki Wealth & Investment Management increased its stake in shares of Alphabet by 1.0% during the fourth quarter. Gerber Kawasaki Wealth & Investment Management now owns 275,943 shares of the information services provider’s stock worth $86,596,000 after purchasing an additional 2,850 shares during the period. Newbridge Financial Services Group Inc. increased its stake in shares of Alphabet by 7.5% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 60,739 shares of the information services provider’s stock worth $19,060,000 after purchasing an additional 4,239 shares during the period. World Investment Advisors lifted its holdings in Alphabet by 8.7% during the 4th quarter. World Investment Advisors now owns 190,654 shares of the information services provider’s stock worth $59,827,000 after purchasing an additional 15,280 shares during the last quarter. Finally, Violich Capital Management Inc. lifted its holdings in Alphabet by 1.0% during the 4th quarter. Violich Capital Management Inc. now owns 340,776 shares of the information services provider’s stock worth $106,936,000 after purchasing an additional 3,378 shares during the last quarter. Institutional investors own 27.26% of the company’s stock.

Key Alphabet News

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Google Cloud delivered a major revenue and growth beat, reinforcing that Alphabet’s AI investments are driving real enterprise demand.
• Positive Sentiment: Several analysts kept bullish ratings and only modestly trimmed price targets, signaling Wall Street still sees meaningful upside.
• Positive Sentiment: Gemini is nearing another billion-user milestone, highlighting strong adoption across Alphabet’s AI ecosystem.
• Neutral Sentiment: Alphabet launched new Gemini model updates and security features, including video-selfie account recovery, which are incremental product improvements.
• Negative Sentiment: Higher AI capex and negative free cash flow are driving investor concern that spending is outrunning short-term monetization.
• Negative Sentiment: The EU imposed an approximately $1 billion antitrust fine on Google over Search and Play Store practices, adding regulatory pressure.

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.