Morningstar restated their neutral rating on shares of Alphabet (NASDAQ:GOOG) in a research note released on Wednesday morning.

Other research analysts also recently issued reports about the stock. Goldman Sachs Group reiterated a $1,186.96 rating on shares of Alphabet in a report on Thursday, July 19th. UBS Group reiterated a $1,195.88 rating on shares of Alphabet in a report on Wednesday, July 18th. JPMorgan Chase & Co. reissued a $1,195.88 rating on shares of Alphabet in a research note on Wednesday, July 18th. Macquarie reissued a $1,205.50 rating on shares of Alphabet in a research note on Monday, July 23rd. Finally, Credit Suisse Group reissued a $1,205.50 rating on shares of Alphabet in a research note on Monday, July 23rd. One analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-six have given a buy rating to the company. Alphabet has a consensus rating of Buy and a consensus price target of $1,289.09.

Shares of NASDAQ:GOOG traded up $18.80 during trading on Wednesday, hitting $1,199.29. 28,484 shares of the company were exchanged, compared to its average volume of 1,460,837. The company has a market capitalization of $824.45 billion, a PE ratio of 28.93 and a beta of 1.11. The company has a debt-to-equity ratio of 0.02, a quick ratio of 4.13 and a current ratio of 4.15. Alphabet has a 1-year low of $927.74 and a 1-year high of $1,273.89.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Monday, July 23rd. The information services provider reported $11.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $9.66 by $2.09. The company had revenue of $32.66 billion during the quarter, compared to the consensus estimate of $32.13 billion. Alphabet had a net margin of 13.16% and a return on equity of 18.24%. The company’s revenue for the quarter was up 25.6% compared to the same quarter last year. During the same period in the prior year, the business earned $5.01 earnings per share.

In other Alphabet news, Director John L. Hennessy sold 724 shares of the company’s stock in a transaction on Wednesday, July 25th. The shares were sold at an average price of $1,250.30, for a total transaction of $905,217.20. Following the sale, the director now owns 442 shares of the company’s stock, valued at $552,632.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Amie Thuener O’toole sold 73 shares of the company’s stock in a transaction on Tuesday, July 3rd. The shares were sold at an average price of $1,135.82, for a total transaction of $82,914.86. Following the sale, the vice president now directly owns 388 shares in the company, valued at approximately $440,698.16. The disclosure for this sale can be found here. Insiders have sold 88,362 shares of company stock worth $105,424,908 in the last ninety days. Insiders own 13.11% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the business. Point72 Asset Management L.P. boosted its position in Alphabet by 349.3% during the first quarter. Point72 Asset Management L.P. now owns 38,146 shares of the information services provider’s stock valued at $39,359,000 after acquiring an additional 53,446 shares during the last quarter. Pinnacle Financial Partners Inc. boosted its position in shares of Alphabet by 8.6% during the 2nd quarter. Pinnacle Financial Partners Inc. now owns 2,132 shares of the information services provider’s stock worth $2,378,000 after purchasing an additional 168 shares in the last quarter. Cetera Advisors LLC boosted its position in shares of Alphabet by 6.3% during the 1st quarter. Cetera Advisors LLC now owns 5,149 shares of the information services provider’s stock worth $5,181,000 after purchasing an additional 303 shares in the last quarter. DnB Asset Management AS boosted its position in shares of Alphabet by 6.2% during the 2nd quarter. DnB Asset Management AS now owns 37,615 shares of the information services provider’s stock worth $41,965,000 after purchasing an additional 2,200 shares in the last quarter. Finally, Bremer Trust National Association boosted its position in shares of Alphabet by 134.5% during the 2nd quarter. Bremer Trust National Association now owns 4,068 shares of the information services provider’s stock worth $4,539,000 after purchasing an additional 2,333 shares in the last quarter. 34.20% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Company Profile

Alphabet Inc, through its subsidiaries, provides online advertising services in the United States and internationally. The company offers performance and brand advertising services. It operates through Google and Other Bets segments. The Google segment includes principal Internet products, such as Ads, Android, Chrome, Commerce, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure and newer efforts, including Virtual Reality.

Further Reading: How to Calculate Compound Annual Growth Rate (CAGR)

Analyst Recommendations for Alphabet (NASDAQ:GOOG)

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