Alphabet Inc. (NASDAQ:GOOG)‘s stock had its “buy” rating reissued by equities research analysts at Goldman Sachs Group, Inc. (The) in a research report issued on Friday.

Several other equities analysts also recently weighed in on the stock. Piper Jaffray Companies reaffirmed an “overweight” rating and set a $1,150.00 price target on shares of Alphabet in a report on Thursday. Pivotal Research lifted their price target on shares of Alphabet from $940.00 to $970.00 and gave the company a “hold” rating in a report on Thursday, October 12th. Macquarie reaffirmed an “outperform” rating and set a $995.00 price target on shares of Alphabet in a report on Friday, October 6th. Wells Fargo & Co reaffirmed a “buy” rating on shares of Alphabet in a report on Friday, October 6th. Finally, Vetr downgraded shares of Alphabet from a “buy” rating to a “hold” rating and set a $988.73 price target on the stock. in a report on Monday, October 2nd. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and thirty-nine have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $1,036.51.

Alphabet (NASDAQ GOOG) traded up 0.08% during mid-day trading on Friday, reaching $985.26. 306,190 shares of the company’s stock traded hands. Alphabet has a 12-month low of $727.54 and a 12-month high of $997.21. The company has a market cap of $682.67 billion, a P/E ratio of 35.71 and a beta of 0.94. The stock has a 50 day moving average of $950.14 and a 200 day moving average of $929.02.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Monday, July 24th. The information services provider reported $5.01 earnings per share for the quarter, beating the consensus estimate of $4.43 by $0.58. Alphabet had a net margin of 19.49% and a return on equity of 13.66%. The business had revenue of $26.01 billion for the quarter, compared to the consensus estimate of $25.61 billion. During the same quarter in the previous year, the firm earned $8.42 earnings per share. The company’s revenue for the quarter was up 21.0% on a year-over-year basis. On average, equities research analysts predict that Alphabet will post $30.61 earnings per share for the current fiscal year.

ILLEGAL ACTIVITY NOTICE: “Alphabet Inc. (GOOG) Receives Buy Rating from Goldman Sachs Group, Inc. (The)” was first published by Watch List News and is the property of of Watch List News. If you are viewing this article on another site, it was illegally stolen and reposted in violation of US & international copyright laws. The legal version of this article can be viewed at https://www.watchlistnews.com/alphabet-inc-goog-receives-buy-rating-from-goldman-sachs-group-inc-the/1643359.html.

In related news, Director Shirley M. Tilghman sold 525 shares of the stock in a transaction that occurred on Friday, July 28th. The shares were 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 of the company’s stock, valued at approximately $5,175,442.53. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Sundar Pichai sold 4,000 shares of the stock in a transaction that occurred on Wednesday, August 2nd. The shares were sold at an average price of $930.46, for a total transaction of $3,721,840.00. Following the completion of the transaction, the chief executive officer now directly owns 1,764 shares of the company’s stock, valued at $1,641,331.44. The disclosure for this sale can be found here. Over the last three months, insiders have sold 40,694 shares of company stock valued at $38,136,904. Insiders own 13.92% of the company’s stock.

Several institutional investors have recently made changes to their positions in GOOG. Janus Henderson Group PLC raised its position in shares of Alphabet by 759.0% in the 2nd quarter. Janus Henderson Group PLC now owns 3,204,087 shares of the information services provider’s stock valued at $2,911,734,000 after purchasing an additional 2,831,099 shares during the last quarter. Harbour Capital Advisors LLC raised its position in shares of Alphabet by 87,001.5% in the 2nd quarter. Harbour Capital Advisors LLC now owns 1,993,754 shares of the information services provider’s stock valued at $2,194,000 after purchasing an additional 1,991,465 shares during the last quarter. Koch Industries Inc. raised its position in shares of Alphabet by 214,636.6% in the 2nd quarter. Koch Industries Inc. now owns 1,161,725 shares of the information services provider’s stock valued at $1,160,000 after purchasing an additional 1,161,184 shares during the last quarter. BlackRock Inc. raised its position in shares of Alphabet by 4.8% in the 2nd quarter. BlackRock Inc. now owns 18,058,006 shares of the information services provider’s stock valued at $16,409,850,000 after purchasing an additional 826,480 shares during the last quarter. Finally, Capital World Investors raised its position in shares of Alphabet by 13.9% in the 2nd quarter. Capital World Investors now owns 6,371,356 shares of the information services provider’s stock valued at $5,789,842,000 after purchasing an additional 776,853 shares during the last quarter. 34.52% of the stock is owned by hedge funds and other institutional investors.

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.

Analyst Recommendations for Alphabet (NASDAQ:GOOG)

Receive News & Ratings for Alphabet Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alphabet Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.