Alphabet Inc. (NASDAQ:GOOG)‘s stock had its “buy” rating reissued by analysts at Morgan Stanley in a report released on Friday, October 27th.
Other equities research analysts also recently issued reports about the company. J P Morgan Chase & Co reiterated a “buy” rating on shares of Alphabet in a research report on Tuesday, July 25th. Canaccord Genuity restated a “hold” rating and set a $1,000.00 price objective on shares of Alphabet in a research report on Thursday, July 27th. SunTrust Banks, Inc. began coverage on Alphabet in a research report on Wednesday, August 16th. They set a “buy” rating and a $1,100.00 price objective on the stock. UBS AG restated a “buy” rating and set a $1,080.00 price objective on shares of Alphabet in a research report on Tuesday, July 25th. Finally, MKM Partners reiterated a “buy” rating and issued a $1,210.00 price target (up from $1,170.00) on shares of Alphabet in a report on Thursday, August 10th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirty-eight have given a buy rating to the company. Alphabet currently has an average rating of “Buy” and an average price target of $1,045.44.
Alphabet (NASDAQ:GOOG) traded up $1.23 during mid-day trading on Friday, hitting $1,029.30. The stock had a trading volume of 308,647 shares, compared to its average volume of 1,350,000. The company has a quick ratio of 5.73, a current ratio of 5.77 and a debt-to-equity ratio of 0.03. Alphabet has a 52-week low of $727.54 and a 52-week high of $1,048.39. The stock has a market capitalization of $720,720.00, a PE ratio of 34.42 and a beta of 0.96.
Alphabet (NASDAQ:GOOG) last released its quarterly earnings results on Thursday, October 26th. The information services provider reported $9.57 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $8.31 by $1.26. The business had revenue of $27.77 billion during the quarter, compared to analyst estimates of $27.17 billion. Alphabet had a return on equity of 14.26% and a net margin of 20.09%. Alphabet’s revenue for the quarter was up 23.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $9.06 earnings per share.
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In other news, Director Ann Mather sold 38 shares of the stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $1,017.21, for a total value of $38,653.98. Following the sale, the director now directly owns 1,805 shares in the company, valued at $1,836,064.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director L John Doerr sold 13,556 shares of the stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $922.15, for a total transaction of $12,500,665.40. Following the completion of the sale, the director now owns 3,485 shares in the company, valued at $3,213,692.75. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 39,714 shares of company stock valued at $37,563,065. 13.92% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in GOOG. Burt Wealth Advisors boosted its position in Alphabet by 17.2% during the second quarter. Burt Wealth Advisors now owns 136 shares of the information services provider’s stock worth $123,000 after acquiring an additional 20 shares during the last quarter. Signature Estate & Investment Advisors LLC boosted its position in Alphabet by 3.8% during the second quarter. Signature Estate & Investment Advisors LLC now owns 137 shares of the information services provider’s stock worth $124,000 after acquiring an additional 5 shares during the last quarter. Riggs Asset Managment Co. Inc. boosted its position in Alphabet by 39.6% during the second quarter. Riggs Asset Managment Co. Inc. now owns 141 shares of the information services provider’s stock worth $128,000 after acquiring an additional 40 shares during the last quarter. Farmers National Bank raised its stake in Alphabet by 15.0% during the first quarter. Farmers National Bank now owns 161 shares of the information services provider’s stock worth $134,000 after purchasing an additional 21 shares during the period. Finally, Archford Capital Strategies LLC raised its stake in Alphabet by 400.0% during the second quarter. Archford Capital Strategies LLC now owns 1,040 shares of the information services provider’s stock worth $139,000 after purchasing an additional 832 shares during the period. Hedge funds and other institutional investors own 34.28% of the company’s stock.
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.
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