Alphabet Inc. (GOOG) Rating Reiterated by Cantor Fitzgerald
Cantor Fitzgerald reissued their overweight rating on shares of Alphabet Inc. (NASDAQ:GOOG) in a research note released on Tuesday. Cantor Fitzgerald currently has a $1,100.00 price target on the information services provider’s stock, up from their prior price target of $1,070.00.
A number of other equities analysts have also recently issued reports on GOOG. UBS AG reiterated a buy rating and issued a $980.00 price target on shares of Alphabet in a research note on Monday, March 27th. Goldman Sachs Group, Inc. (The) reiterated a buy rating on shares of Alphabet in a research note on Tuesday. Needham & Company LLC reiterated a buy rating and issued a $1,100.00 price target (up previously from $1,050.00) on shares of Alphabet in a research note on Tuesday. JMP Securities reiterated an outperform rating and issued a $1,077.00 price target on shares of Alphabet in a research note on Tuesday. Finally, Pivotal Research reiterated a hold rating and issued a $980.00 price target (down previously from $990.00) on shares of Alphabet in a research note on Monday, July 17th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, forty-one have given a buy rating and two have given a strong buy rating to the company’s stock. The stock presently has an average rating of Buy and a consensus target price of $1,012.23.
Alphabet (GOOG) traded up 0.80% on Tuesday, hitting $941.53. 1,846,351 shares of the company were exchanged. Alphabet has a 52 week low of $727.54 and a 52 week high of $988.25. The stock has a market capitalization of $652.37 billion, a P/E ratio of 34.12 and a beta of 0.94. The company has a 50 day moving average price of $944.07 and a 200-day moving average price of $881.26.
Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Monday, July 24th. The information services provider reported $5.01 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $4.43 by $0.58. The company had revenue of $26.01 billion for 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%. Alphabet’s revenue was up 21.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $8.42 EPS. On average, equities analysts expect that Alphabet will post $30.74 earnings per share for the current fiscal year.
In related news, Director Shirley M. Tilghman sold 525 shares of the firm’s stock in a transaction on 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 sale, the director now directly owns 5,517 shares in the company, valued at $5,175,442.53. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP David C. Drummond sold 2,000 shares of the firm’s stock in a transaction on Friday, May 12th. The stock was sold at an average price of $945.65, for a total value of $1,891,300.00. Following the completion of the sale, the senior vice president now owns 3,800 shares of the company’s stock, valued at $3,593,470. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 46,793 shares of company stock valued at $43,987,234. 13.92% of the stock is owned by corporate insiders.
A number of hedge funds have recently modified their holdings of GOOG. Riggs Asset Managment Co. Inc. increased its stake 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 during the period. Farmers National Bank increased its stake 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 during the period. Pacific Center for Financial Services acquired a new stake in Alphabet during the fourth quarter valued at $142,000. St. Johns Investment Management Company LLC increased its stake 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 during the period. Finally, Israel Discount Bank of New York GFN acquired a new stake in Alphabet during the fourth quarter valued at $166,000. Institutional investors own 34.60% of the company’s stock.
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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