Alphabet Inc Class C (GOOG) Given “Buy” Rating at Oppenheimer
Several other equities research analysts have also issued reports on GOOG. BidaskClub raised Alphabet Inc Class C from a hold rating to a buy rating in a research report on Friday, April 20th. Credit Suisse Group reissued a buy rating on shares of Alphabet Inc Class C in a research report on Friday, April 20th. Deutsche Bank reissued a buy rating and set a $1,225.00 price target on shares of Alphabet Inc Class C in a research report on Tuesday, April 24th. JPMorgan Chase & Co. reissued an overweight rating and set a $1,285.00 price target (down from $1,330.00) on shares of Alphabet Inc Class C in a research report on Tuesday, April 24th. Finally, TheStreet raised Alphabet Inc Class C from a c+ rating to an a- rating in a research report on Monday, April 23rd. Three research analysts have rated the stock with a hold rating and twenty-seven have issued a buy rating to the stock. Alphabet Inc Class C presently has an average rating of Buy and an average price target of $1,245.96.
Shares of GOOG stock traded down $5.53 on Friday, hitting $1,200.96. 1,381,673 shares of the stock traded hands, compared to its average volume of 1,705,764. The company has a current ratio of 4.15, a quick ratio of 4.13 and a debt-to-equity ratio of 0.02. The firm has a market cap of $861.31 billion, a P/E ratio of 37.47 and a beta of 1.13. Alphabet Inc Class C has a 1-year low of $903.40 and a 1-year high of $1,273.89.
In other Alphabet Inc Class C news, Director Ann Mather sold 39 shares of the stock in a transaction on Friday, June 1st. The stock was sold at an average price of $1,099.06, for a total value of $42,863.34. Following the sale, the director now directly owns 1,862 shares of the company’s stock, valued at $2,046,449.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Sundar Pichai sold 10,000 shares of the stock in a transaction on Wednesday, June 6th. The stock was sold at an average price of $1,139.18, for a total value of $11,391,800.00. Following the completion of the sale, the chief executive officer now directly owns 912 shares in the company, valued at $1,038,932.16. The disclosure for this sale can be found here. Insiders sold 88,369 shares of company stock worth $104,846,172 over the last ninety days. 13.11% of the stock is owned by corporate insiders.
Institutional investors and hedge funds have recently modified their holdings of the company. Smart Portfolios LLC acquired a new position in shares of Alphabet Inc Class C during the first quarter valued at $103,000. Braun Bostich & Associates Inc. acquired a new position in shares of Alphabet Inc Class C during the first quarter valued at $107,000. Litman Gregory Asset Management LLC acquired a new position in shares of Alphabet Inc Class C during the first quarter valued at $113,000. JJJ Advisors Inc. acquired a new position in shares of Alphabet Inc Class C during the second quarter valued at $134,000. Finally, WealthShield LLC acquired a new position in shares of Alphabet Inc Class C during the fourth quarter valued at $144,000. 34.27% of the stock is currently owned by institutional investors.
About Alphabet Inc Class C
Alphabet Inc, through its subsidiaries, provides online advertising services in the United States and internationally. The company offers performance and brand advertising services. It operates through Google and Other Bets segments. The Google segment includes principal Internet products, such as Ads, Android, Chrome, Commerce, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure and newer efforts, including Virtual Reality.
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