Alphabet (NASDAQ:GOOG) Upgraded by Phillip Securities to Strong-Buy Rating

Alphabet (NASDAQ:GOOG) was upgraded by analysts at Phillip Securities from a “moderate buy” rating to a “strong-buy” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

A number of other research firms have also recently weighed in on GOOG. Raymond James Financial reaffirmed a “strong-buy” rating on shares of Alphabet in a report on Thursday. BMO Capital Markets increased their price objective on Alphabet from $455.00 to $465.00 and gave the stock an “outperform” rating in a report on Thursday, July 23rd. Wolfe Research set a $460.00 target price on Alphabet in a research report on Thursday. Canaccord Genuity Group set a $450.00 target price on Alphabet in a research note on Thursday. Finally, JPMorgan Chase & Co. reduced their price target on Alphabet from $460.00 to $420.00 and set an “overweight” rating for the company in a research report on Thursday, July 23rd. Seven analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $410.09.

Alphabet Stock Up 2.3%

GOOG stock opened at $326.57 on Monday. The stock has a market cap of $3.96 trillion, a PE ratio of 16.40, a price-to-earnings-growth ratio of 1.08 and a beta of 1.23. The firm’s 50-day simple moving average is $359.30 and its 200 day simple moving average is $337.61. Alphabet has a fifty-two week low of $188.70 and a fifty-two week high of $404.47. The company has a quick ratio of 2.64, a current ratio of 2.72 and a debt-to-equity ratio of 0.16.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Wednesday, July 22nd. The information services provider reported $9.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.87 by $6.24. Alphabet had a net margin of 54.77% and a return on equity of 51.32%. The firm had revenue of $119.80 billion during the quarter, compared to analyst estimates of $116.53 billion. During the same period in the previous year, the business posted $2.31 EPS. Alphabet’s revenue was up 24.2% on a year-over-year basis. As a group, sell-side analysts predict that Alphabet will post 17.25 EPS for the current year.

Insider Buying and Selling

In related news, Director John L. Hennessy sold 1,050 shares of Alphabet stock in a transaction 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 transaction, the director directly owned 1,481 shares in the company, valued at $545,941.03. The trade was a 41.49% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder 2019 Gp L.L.C. Gv sold 87,475 shares of Alphabet stock in a transaction on Friday, May 15th. The stock was sold at an average price of $23.75, for a total value of $2,077,531.25. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 159,415 shares of company stock valued at $7,672,279 in the last three months. Insiders own 12.99% of the company’s stock.

Institutional Investors Weigh In On Alphabet

Several hedge funds have recently modified their holdings of the stock. Imprint Wealth LLC purchased a new position in Alphabet in the 3rd quarter worth about $31,000. Nvest Wealth Strategies Inc. purchased a new stake in Alphabet during the fourth quarter valued at about $38,000. Lifetime Wealth Management P.C. acquired a new position in shares of Alphabet in the fourth quarter worth about $38,000. Bard Associates Inc. acquired a new position in shares of Alphabet in the fourth quarter worth about $41,000. Finally, Towne Trust Company N.A boosted its holdings in shares of Alphabet by 34.0% in the fourth quarter. Towne Trust Company N.A now owns 134 shares of the information services provider’s stock worth $42,000 after buying an additional 34 shares during the period. 27.26% of the stock is owned by hedge funds and other institutional investors.

Alphabet News Summary

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.