Alphabet Inc. (GOOG) Rating Reiterated by B. Riley
B. Riley reaffirmed their buy rating on shares of Alphabet Inc. (NASDAQ:GOOG) in a report published on Thursday morning. They currently have a $1,050.00 target price on the information services provider’s stock, up from their prior target price of $1,032.00.
A number of other equities research analysts have also recently weighed in on GOOG. UBS AG restated a buy rating and issued a $1,050.00 price target (up previously from $980.00) on shares of Alphabet in a report on Friday, April 28th. BMO Capital Markets restated a market perform rating and issued a $970.00 price target on shares of Alphabet in a report on Thursday. Goldman Sachs Group, Inc. (The) restated a buy rating on shares of Alphabet in a report on Tuesday, July 25th. Cantor Fitzgerald restated an overweight rating and issued a $1,100.00 price target (up previously from $1,070.00) on shares of Alphabet in a report on Tuesday, July 25th. Finally, Needham & Company LLC restated a buy rating and issued a $1,100.00 price target (up previously from $1,050.00) on shares of Alphabet in a report on Tuesday, July 25th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, forty have assigned a buy rating and two have assigned a strong buy rating to the company. Alphabet presently has a consensus rating of Buy and a consensus target price of $1,017.39.
Shares of Alphabet (GOOG) traded down 1.17% during mid-day trading on Thursday, hitting $930.50. The stock had a trading volume of 1,957,326 shares. The company has a market cap of $644.72 billion, a PE ratio of 33.72 and a beta of 0.95. The stock has a 50 day moving average price of $944.07 and a 200-day moving average price of $881.26. Alphabet has a 52-week low of $727.54 and a 52-week high of $988.25.
Alphabet (NASDAQ:GOOG) last released its quarterly earnings results on Monday, July 24th. The information services provider reported $5.01 earnings per share for the quarter, topping analysts’ consensus estimates of $4.43 by $0.58. The business had revenue of $26.01 billion for the quarter, compared to analysts’ expectations of $25.61 billion. Alphabet had a return on equity of 13.66% and a net margin of 19.49%. The company’s revenue was up 21.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $8.42 EPS. On average, equities analysts expect that Alphabet will post $30.74 earnings per share for the current fiscal year.
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In related news, Director Shirley M. Tilghman sold 525 shares of Alphabet stock in a transaction dated Friday, July 28th. The stock was sold at an average price of $938.09, for a total value of $492,497.25. Following the completion of the transaction, the director now directly owns 5,517 shares in the company, valued at $5,175,442.53. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sundar Pichai sold 4,000 shares of Alphabet stock in a transaction dated Wednesday, June 7th. The stock was sold at an average price of $981.45, for a total value of $3,925,800.00. Following the completion of the transaction, the chief executive officer now owns 2,058 shares of the company’s stock, valued at $2,019,824.10. The disclosure for this sale can be found here. Insiders sold 44,542 shares of company stock valued at $41,955,126 over the last quarter. Insiders own 13.92% of the company’s stock.
Institutional investors have recently modified their holdings of the stock. Silvercrest Asset Management Group LLC increased its position in shares of Alphabet by 0.3% in the fourth quarter. Silvercrest Asset Management Group LLC now owns 73,493 shares of the information services provider’s stock worth $56,724,000 after buying an additional 239 shares during the last quarter. A.R.T. Advisors LLC increased its position in shares of Alphabet by 23.7% in the fourth quarter. A.R.T. Advisors LLC now owns 4,700 shares of the information services provider’s stock worth $3,627,000 after buying an additional 900 shares during the last quarter. Roundview Capital LLC increased its position in shares of Alphabet by 1.4% in the fourth quarter. Roundview Capital LLC now owns 7,101 shares of the information services provider’s stock worth $5,481,000 after buying an additional 96 shares during the last quarter. Bain Capital Public Equity Management LLC bought a new position in shares of Alphabet during the fourth quarter worth approximately $2,922,000. Finally, Intact Investment Management Inc. bought a new position in shares of Alphabet during the fourth quarter worth approximately $332,000. 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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