Alphabet Inc. (GOOG) Earns “Outperform” Rating from Robert W. Baird
Robert W. Baird restated their outperform rating on shares of Alphabet Inc. (NASDAQ:GOOG) in a research note published on Tuesday morning. The brokerage currently has a $1,100.00 price objective on the information services provider’s stock.
A number of other research analysts have also recently issued reports on GOOG. UBS AG reiterated a buy rating and issued a $980.00 target price on shares of Alphabet in a research note on Monday, March 27th. Instinet cut their target price on shares of Alphabet from $950.00 to $925.00 and set a buy rating for the company in a research note on Tuesday, March 28th. Macquarie reiterated a buy rating and issued a $975.00 target price on shares of Alphabet in a research note on Tuesday, April 18th. Aegis reiterated a buy rating and issued a $1,011.00 target price on shares of Alphabet in a research note on Sunday, April 2nd. Finally, Nomura reiterated a buy rating and issued a $925.00 target price on shares of Alphabet in a research note on Monday, April 24th. One analyst has rated the stock with a sell rating, six have given a hold rating, forty-one have issued a buy rating and two have issued a strong buy rating to the company’s stock. Alphabet has an average rating of Buy and a consensus target price of $1,012.23.
Shares of Alphabet (GOOG) traded up 0.80% during trading on Tuesday, reaching $941.53. The company had a trading volume of 1,846,351 shares. Alphabet has a 12-month low of $727.54 and a 12-month high of $988.25. The firm has a 50-day moving average of $944.07 and a 200-day moving average of $881.26. The company has a market cap of $652.37 billion, a P/E ratio of 34.12 and a beta of 0.94.
Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Monday, July 24th. The information services provider reported $5.01 EPS for the quarter, topping analysts’ consensus estimates of $4.43 by $0.58. The firm had revenue of $26.01 billion during the quarter, compared to analysts’ expectations of $25.61 billion. Alphabet had a net margin of 19.49% and a return on equity of 13.66%. The company’s revenue for the quarter was up 21.0% compared to the same quarter last year. During the same quarter last year, the company earned $8.42 earnings per share. On average, equities research analysts anticipate that Alphabet will post $30.74 EPS for the current year.
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In other news, insider Diane B. Greene sold 1,863 shares of the business’s stock in a transaction dated Monday, May 1st. The shares were sold at an average price of $902.72, for a total transaction of $1,681,767.36. Following the transaction, the insider now directly owns 85,916 shares in the company, valued at approximately $77,558,091.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP David C. Drummond sold 2,000 shares of the business’s stock in a transaction dated Friday, May 12th. The stock was sold at an average price of $945.65, for a total transaction of $1,891,300.00. Following the transaction, the senior vice president now owns 3,800 shares in the company, valued at $3,593,470. The disclosure for this sale can be found here. Insiders have sold a total of 46,793 shares of company stock worth $43,987,234 over the last three months. Insiders own 13.92% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Riggs Asset Managment Co. Inc. raised its position in Alphabet by 39.6% in the second quarter. Riggs Asset Managment Co. Inc. now owns 141 shares of the information services provider’s stock valued at $128,000 after buying an additional 40 shares in the last quarter. Farmers National Bank raised its position in Alphabet by 15.0% in the first quarter. Farmers National Bank now owns 161 shares of the information services provider’s stock valued at $134,000 after buying an additional 21 shares in the last quarter. Pacific Center for Financial Services purchased a new position in Alphabet during the fourth quarter valued at $142,000. St. Johns Investment Management Company LLC raised its position in Alphabet by 1,046.7% in the second quarter. St. Johns Investment Management Company LLC now owns 172 shares of the information services provider’s stock valued at $156,000 after buying an additional 157 shares in the last quarter. Finally, Israel Discount Bank of New York GFN purchased a new position in Alphabet during the fourth quarter valued at $166,000. Institutional investors own 34.60% of the company’s stock.
Alphabet Company Profile
Alphabet Inc is a holding company. The Company’s businesses include Google Inc (Google) and its Internet products, such as Access, Calico, CapitalG, GV, Nest, Verily, Waymo and X. The Company’s segments include Google and Other Bets. The Google segment includes its Internet products, such as Search, Ads, Commerce, Maps, YouTube, Google Cloud, Android, Chrome and Google Play, as well as its hardware initiatives.
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