Alphabet (NASDAQ:GOOG) Upgraded to “Strong-Buy” at Phillip Securities

Phillip Securities upgraded shares of Alphabet (NASDAQ:GOOG) from a moderate buy rating to a strong-buy rating in a report released on Monday,Zacks.com reports.

Several other equities analysts have also recently issued reports on the company. Stifel Nicolaus set a $420.00 price target on Alphabet in a research report on Wednesday, May 20th. Wells Fargo & Company lowered their target price on Alphabet from $418.00 to $411.00 and set an “overweight” rating on the stock in a research note on Thursday, July 23rd. Morgan Stanley lowered their target price on Alphabet from $415.00 to $400.00 and set an “overweight” rating on the stock in a research note on Thursday, July 23rd. Canaccord Genuity Group set a $450.00 target price on Alphabet in a report on Thursday. Finally, Citigroup restated a “market outperform” rating on shares of Alphabet in a research note on Wednesday, July 22nd. Seven research analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, Alphabet presently has an average rating of “Buy” and a consensus target price of $410.09.

Alphabet Trading Up 2.3%

NASDAQ GOOG opened at $326.57 on Monday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.64 and a current ratio of 2.72. The firm has a market cap of $3.96 trillion, a PE ratio of 16.40, a P/E/G ratio of 1.08 and a beta of 1.23. Alphabet has a one year low of $188.70 and a one year high of $404.47. The firm’s fifty day moving average is $359.30 and its two-hundred day moving average is $337.61.

Alphabet (NASDAQ:GOOG) last announced its earnings results on Wednesday, July 22nd. The information services provider reported $9.11 earnings per share for the quarter, topping the consensus estimate of $2.87 by $6.24. Alphabet had a net margin of 54.77% and a return on equity of 51.32%. The business had revenue of $119.80 billion during the quarter, compared to the consensus estimate of $116.53 billion. During the same quarter in the prior year, the firm earned $2.31 earnings per share. The business’s quarterly revenue was up 24.2% compared to the same quarter last year. Analysts expect that Alphabet will post 17.25 earnings per share for the current year.

Alphabet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 14th. Shareholders of record on Monday, September 7th will be issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend is Friday, September 4th. Alphabet’s payout ratio is currently 4.42%.

Insider Activity at Alphabet

In other news, Director John L. Hennessy sold 1,050 shares of the firm’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $368.63, for a total value of $387,061.50. Following the completion of the sale, the director directly owned 1,481 shares of the company’s stock, valued at $545,941.03. This trade represents a 41.49% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider John Kent Walker sold 8,998 shares of Alphabet stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $349.29, for a total value of $3,142,911.42. Following the completion of the sale, the insider owned 75,290 shares in the company, valued at approximately $26,298,044.10. This trade represents a 10.68% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 159,415 shares of company stock worth $7,672,279 in the last three months. 12.99% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Processus Wealth & Capital Management LLC lifted its stake in shares of Alphabet by 1.0% in the second quarter. Processus Wealth & Capital Management LLC now owns 20,553 shares of the information services provider’s stock valued at $7,262,000 after purchasing an additional 200 shares during the period. Ballast Inc. boosted its holdings in Alphabet by 15.5% during the second quarter. Ballast Inc. now owns 15,191 shares of the information services provider’s stock worth $5,367,000 after buying an additional 2,034 shares in the last quarter. GoalFusion Wealth Management LLC grew its position in Alphabet by 34.4% during the second quarter. GoalFusion Wealth Management LLC now owns 2,073 shares of the information services provider’s stock worth $733,000 after buying an additional 531 shares during the period. Insight Wealth Strategies LLC grew its position in Alphabet by 2.2% during the second quarter. Insight Wealth Strategies LLC now owns 12,674 shares of the information services provider’s stock worth $4,536,000 after buying an additional 273 shares during the period. Finally, Accel Wealth Management increased its holdings in Alphabet by 1.0% in the second quarter. Accel Wealth Management now owns 4,250 shares of the information services provider’s stock valued at $1,502,000 after buying an additional 43 shares in the last quarter. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Alphabet News Roundup

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet reported a strong second quarter, with revenue up 24% year over year to $119.8 billion and earnings of $9.11 per share, well above estimates. Google Cloud growth, reported at approximately 82%, and continued strength in Search and YouTube reinforced the company’s AI monetization story. Alphabet Stock Is Gaining Monday: What’s Going On?
• Positive Sentiment: Analysts and portfolio managers largely continue to support Alphabet’s long-term outlook. Bullish arguments point to enterprise AI adoption, a roughly $514 billion Cloud backlog, improving Cloud margins and early evidence that AI features can strengthen Search and other services. Berkshire Hathaway’s substantial Alphabet position also provides a notable vote of confidence. Alphabet Q2 Strength Reinforces the Bullish Case
• Positive Sentiment: YouTube reached a multiyear agreement with NBCUniversal to include Peacock content for U.S. YouTube Premium subscribers beginning in 2027. The deal could improve subscription value, engagement and YouTube’s competitive position in streaming. NBCUniversal and YouTube Ink Peacock Deal

About Alphabet

Alphabet Inc (NASDAQ: GOOG) is a multinational technology holding company headquartered in Mountain View, California. Formed in 2015 through a corporate restructuring of Google, Alphabet serves as the parent to Google LLC and a portfolio of businesses collectively known as “Other Bets.” Google was originally founded in 1998 by Larry Page and Sergey Brin; Alphabet is led by CEO Sundar Pichai, who oversees Google and the broader company while the founders remain prominent shareholders and influential figures in the company’s history.

Alphabet’s core business centers on internet search and advertising, with Google Search and the company’s ad platforms (including Google Ads and AdSense) generating the majority of revenue by connecting advertisers with consumers worldwide.