Alphabet (NASDAQ:GOOG)‘s stock had its “buy” rating reaffirmed by analysts at Nomura in a report issued on Tuesday.
GOOG has been the subject of a number of other research reports. Barclays reaffirmed a “buy” rating on shares of Alphabet in a research note on Friday, October 26th. Wedbush assumed coverage on Alphabet in a research note on Wednesday, October 17th. They issued an “outperform” rating for the company. Canaccord Genuity dropped their price target on Alphabet from $1,170.00 to $1,140.00 and set a “hold” rating for the company in a research note on Friday, October 26th. Jefferies Financial Group reaffirmed a “buy” rating on shares of Alphabet in a research note on Monday, September 24th. Finally, Piper Jaffray Companies dropped their price target on Alphabet to $1,250.00 and set an “overweight” rating for the company in a research note on Friday, October 26th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-nine have given a buy rating to the stock. Alphabet presently has a consensus rating of “Buy” and a consensus target price of $1,301.81.
Shares of GOOG stock opened at $1,050.82 on Tuesday. Alphabet has a 52 week low of $980.64 and a 52 week high of $1,273.89. The firm has a market capitalization of $731.24 billion, a P/E ratio of 23.65 and a beta of 1.15. The company has a quick ratio of 4.10, a current ratio of 4.14 and a debt-to-equity ratio of 0.02.
Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Thursday, October 25th. The information services provider reported $13.06 EPS for the quarter, topping analysts’ consensus estimates of $10.41 by $2.65. Alphabet had a return on equity of 19.40% and a net margin of 14.45%. The company had revenue of $27.16 billion during the quarter.
In other news, Director L John Doerr sold 11,908 shares of the firm’s stock in a transaction on Thursday, November 15th. The stock was sold at an average price of $1,049.76, for a total transaction of $12,500,542.08. Following the completion of the transaction, the director now directly owns 3,485 shares in the company, valued at $3,658,413.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Sundar Pichai sold 10,000 shares of the firm’s stock in a transaction on Wednesday, September 19th. The shares were sold at an average price of $1,160.42, for a total value of $11,604,200.00. Following the transaction, the chief executive officer now owns 546 shares of the company’s stock, valued at $633,589.32. The disclosure for this sale can be found here. Insiders have sold 79,437 shares of company stock valued at $87,985,547 in the last three months. Insiders own 13.11% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Principal Financial Group Inc. grew its stake in shares of Alphabet by 2.0% during the 1st quarter. Principal Financial Group Inc. now owns 694,264 shares of the information services provider’s stock valued at $716,346,000 after purchasing an additional 13,346 shares during the period. Allianz Asset Management GmbH grew its stake in shares of Alphabet by 3.9% during the 1st quarter. Allianz Asset Management GmbH now owns 371,157 shares of the information services provider’s stock valued at $382,956,000 after purchasing an additional 13,865 shares during the period. Kranot Hishtalmut Le Morim Ve Gananot Havera Menahelet LTD bought a new stake in shares of Alphabet during the 1st quarter valued at about $1,912,000. Kranot Hishtalmut Le Morim Tichoniim Havera Menahelet LTD bought a new stake in shares of Alphabet during the 1st quarter valued at about $711,000. Finally, Farallon Capital Management LLC grew its stake in shares of Alphabet by 39.5% during the 1st quarter. Farallon Capital Management LLC now owns 365,160 shares of the information services provider’s stock valued at $376,768,000 after purchasing an additional 103,447 shares during the period. Institutional investors own 40.44% of the company’s stock.
Alphabet Company Profile
Alphabet Inc, through its subsidiaries, provides online advertising services in the United States and internationally. The company offers performance and brand advertising services. It operates through Google and Other Bets segments. The Google segment includes principal Internet products, such as Ads, Android, Chrome, Commerce, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure and newer efforts, including Virtual Reality.
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