Royal Bank Of Canada Reiterates Buy Rating for Alphabet (NASDAQ:GOOGL)

Alphabet (NASDAQ:GOOGL)‘s stock had its “buy” rating reaffirmed by equities research analysts at Royal Bank Of Canada in a research report issued to clients and investors on Tuesday,MarketScreener Latest Ratings reports. They currently have a $315.00 price objective on the information services provider’s stock. Royal Bank Of Canada’s price target suggests a potential downside of 0.26% from the company’s previous close.

Other research analysts have also issued research reports about the company. Evercore ISI lifted their price target on Alphabet from $300.00 to $325.00 and gave the stock an “outperform” rating in a research report on Thursday, October 30th. Guggenheim restated a “buy” rating and set a $375.00 target price (up from $330.00) on shares of Alphabet in a research report on Monday. BMO Capital Markets set a $294.00 target price on shares of Alphabet and gave the company an “outperform” rating in a report on Thursday, October 9th. KeyCorp reiterated an “overweight” rating and issued a $300.00 price target (up previously from $265.00) on shares of Alphabet in a research report on Monday, October 27th. Finally, Arete raised their price objective on shares of Alphabet from $300.00 to $380.00 and gave the stock a “buy” rating in a research report on Tuesday. Four investment analysts have rated the stock with a Strong Buy rating, forty-one have issued a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, Alphabet presently has a consensus rating of “Moderate Buy” and an average price target of $312.06.

Alphabet Stock Up 0.3%

Shares of GOOGL stock traded up $0.92 during trading hours on Tuesday, reaching $315.81. 34,158,249 shares of the stock were exchanged, compared to its average volume of 36,789,238. Alphabet has a 12-month low of $140.53 and a 12-month high of $328.83. The business’s fifty day moving average is $270.48 and its two-hundred day moving average is $220.62. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. The firm has a market capitalization of $3.81 trillion, a P/E ratio of 31.15, a P/E/G ratio of 1.86 and a beta of 1.05.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.29 by $0.58. The company had revenue of $102.35 billion during the quarter, compared to the consensus estimate of $99.90 billion. Alphabet had a return on equity of 36.08% and a net margin of 32.23%. As a group, research analysts expect that Alphabet will post 8.9 EPS for the current fiscal year.

Insiders Place Their Bets

In other Alphabet news, CAO Amie Thuener O’toole sold 2,778 shares of the stock in a transaction on Monday, November 17th. The stock was sold at an average price of $288.26, for a total value of $800,786.28. Following the completion of the transaction, the chief accounting officer owned 11,739 shares in the company, valued at approximately $3,383,884.14. This represents a 19.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director John L. Hennessy sold 600 shares of the firm’s stock in a transaction dated Thursday, November 13th. The shares were sold at an average price of $280.06, for a total transaction of $168,036.00. Following the completion of the sale, the director owned 4,516 shares of the company’s stock, valued at $1,264,750.96. This trade represents a 11.73% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 225,072 shares of company stock valued at $58,074,027 over the last 90 days. 11.64% of the stock is owned by corporate insiders.

Institutional Trading of Alphabet

Several large investors have recently modified their holdings of the business. NBZ Investment Advisors LLC lifted its position in Alphabet by 85.7% during the first quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider’s stock worth $30,000 after buying an additional 90 shares during the period. Financial Gravity Companies Inc. acquired a new position in shares of Alphabet during the 2nd quarter valued at about $31,000. CarsonAllaria Wealth Management Ltd. lifted its holdings in shares of Alphabet by 36.4% during the 2nd quarter. CarsonAllaria Wealth Management Ltd. now owns 251 shares of the information services provider’s stock worth $44,000 after acquiring an additional 67 shares during the period. MJT & Associates Financial Advisory Group Inc. acquired a new stake in shares of Alphabet in the first quarter worth approximately $50,000. Finally, Pilgrim Partners Asia Pte Ltd purchased a new stake in Alphabet in the third quarter valued at approximately $53,000. 40.03% of the stock is currently owned by institutional investors and hedge funds.

About Alphabet

Alphabet Inc offers various products and platforms in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment provides products and services, including ads, Android, Chrome, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.