Alphabet Inc. (NASDAQ:GOOG) Rating Reiterated by J P Morgan Chase & Co
GOOG has been the subject of several other research reports. Deutsche Bank AG reissued a buy rating on shares of Alphabet in a research note on Monday, June 12th. Vetr raised Alphabet from a hold rating to a buy rating and set a $995.83 target price for the company in a research note on Monday, June 26th. Instinet reissued a buy rating and set a $925.00 target price on shares of Alphabet in a research note on Wednesday, April 26th. Cantor Fitzgerald reissued a buy rating on shares of Alphabet in a research note on Friday, April 28th. Finally, Cowen and Company boosted their target price on Alphabet from $1,050.00 to $1,075.00 and gave the stock an outperform rating in a research note on Friday, April 28th. One research analyst has rated the stock with a sell rating, six have given a hold rating, forty-one have given a buy rating and two have issued a strong buy rating to the company. Alphabet currently has a consensus rating of Buy and an average target price of $1,012.23.
Alphabet (GOOG) opened at 941.53 on Tuesday. The stock’s 50 day moving average is $944.07 and its 200 day moving average is $881.26. Alphabet has a 52 week low of $727.54 and a 52 week high of $988.25. The firm has a market cap of $651.30 billion, a price-to-earnings ratio of 31.82 and a beta of 0.94.
Alphabet (NASDAQ:GOOG) last issued its earnings results on Monday, July 24th. The information services provider reported $5.01 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $4.43 by $0.58. The firm had revenue of $26.01 billion during the quarter, compared to the consensus estimate of $25.61 billion. Alphabet had a return on equity of 13.66% and a net margin of 19.49%. The business’s quarterly revenue was up 21.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $8.42 earnings per share. Equities research analysts expect that Alphabet will post $30.74 EPS for the current year.
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In related news, SVP David C. Drummond sold 2,000 shares of the stock in a transaction that occurred on 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 completion of the transaction, the senior vice president now directly owns 3,800 shares of the company’s stock, valued at $3,593,470. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Sundar Pichai sold 4,000 shares of the stock in a transaction that occurred on Wednesday, June 7th. The shares were sold at an average price of $981.45, for a total value of $3,925,800.00. Following the transaction, the chief executive officer now directly owns 2,058 shares of the company’s stock, valued at $2,019,824.10. The disclosure for this sale can be found here. In the last 90 days, insiders sold 46,793 shares of company stock valued at $43,987,234. Company insiders own 13.92% of the company’s stock.
Several large investors have recently bought and sold shares of GOOG. Shepherd Financial Partners LLC acquired a new stake in shares of Alphabet during the fourth quarter valued at $3,291,000. Worth Venture Partners LLC purchased a new position in Alphabet during the fourth quarter valued at approximately $1,532,000. Norges Bank purchased a new position in Alphabet during the fourth quarter valued at approximately $2,128,163,000. Adviser Investments LLC purchased a new position in Alphabet during the first quarter valued at approximately $1,276,000. Finally, Farmers & Merchants Investments Inc. increased its position in Alphabet by 0.3% in the first quarter. Farmers & Merchants Investments Inc. now owns 5,464 shares of the information services provider’s stock valued at $4,533,000 after buying an additional 18 shares during the last quarter. 34.60% of the stock is owned by institutional investors and hedge funds.
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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