Alphabet (NASDAQ:GOOG) was downgraded by BidaskClub from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Wednesday.
GOOG has been the subject of several other research reports. Vetr cut Alphabet from a “sell” rating to a “strong sell” rating and set a $949.65 price target for the company. in a report on Wednesday, January 10th. Morningstar restated a “neutral” rating on shares of Alphabet in a report on Friday, January 19th. SunTrust Banks raised their price target on Alphabet to $1,250.00 and gave the company a “buy” rating in a report on Friday, January 12th. Atlantic Securities restated a “buy” rating on shares of Alphabet in a report on Friday, February 2nd. Finally, UBS restated a “buy” rating on shares of Alphabet in a report on Thursday, January 11th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirty-six have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $1,073.56.
Shares of GOOG stock opened at $1,055.22 on Wednesday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 5.11 and a current ratio of 5.14. Alphabet has a 1 year low of $803.37 and a 1 year high of $1,186.89. The stock has a market capitalization of $757,924.88, a PE ratio of 58.41 and a beta of 1.04.
Alphabet (NASDAQ:GOOG) last released its earnings results on Thursday, February 1st. The information services provider reported $9.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $10.07 by ($0.37). The business had revenue of $32.32 billion for the quarter, compared to analysts’ expectations of $31.88 billion. Alphabet had a return on equity of 14.94% and a net margin of 11.42%. The business’s revenue for the quarter was up 24.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $9.36 EPS.
Alphabet announced that its Board of Directors has initiated a share buyback program on Thursday, February 1st that allows the company to buyback $8.59 billion in shares. This buyback authorization allows the information services provider to repurchase shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.
In other Alphabet news, Director Ann Mather sold 38 shares of Alphabet stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $1,048.34, for a total transaction of $39,836.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sundar Pichai sold 4,000 shares of Alphabet stock in a transaction on Wednesday, January 3rd. The shares were sold at an average price of $1,065.21, for a total value of $4,260,840.00. Following the sale, the chief executive officer now directly owns 1,031 shares of the company’s stock, valued at $1,098,231.51. The disclosure for this sale can be found here. Insiders have sold a total of 48,709 shares of company stock valued at $53,035,301 over the last three months. 13.92% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Capital Advantage Inc. raised its position in Alphabet by 0.4% during the 2nd quarter. Capital Advantage Inc. now owns 273 shares of the information services provider’s stock valued at $248,000 after purchasing an additional 1 shares in the last quarter. Marathon Capital Management increased its holdings in shares of Alphabet by 1.2% in the 2nd quarter. Marathon Capital Management now owns 436 shares of the information services provider’s stock valued at $396,000 after acquiring an additional 5 shares during the period. Blue Edge Capital LLC increased its holdings in shares of Alphabet by 0.6% in the 2nd quarter. Blue Edge Capital LLC now owns 908 shares of the information services provider’s stock valued at $825,000 after acquiring an additional 5 shares during the period. Signature Estate & Investment Advisors LLC increased its holdings in shares of Alphabet by 3.8% in the 2nd quarter. Signature Estate & Investment Advisors LLC now owns 137 shares of the information services provider’s stock valued at $124,000 after acquiring an additional 5 shares during the period. Finally, Glenview Trust Co increased its holdings in shares of Alphabet by 0.3% in the 2nd quarter. Glenview Trust Co now owns 1,878 shares of the information services provider’s stock valued at $1,707,000 after acquiring an additional 6 shares during the period. 34.84% of the stock is owned by institutional investors and hedge funds.
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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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