Rosenblatt Securities Upgrades Alphabet (NASDAQ:GOOGL) to Strong-Buy

Alphabet (NASDAQ:GOOGL) was upgraded by stock analysts at Rosenblatt Securities to a “strong-buy” rating in a note issued to investors on Wednesday,Zacks.com reports.

GOOGL has been the subject of a number of other reports. Cantor Fitzgerald reissued an “overweight” rating and issued a $420.00 price target (down from $435.00) on shares of Alphabet in a research note on Thursday, July 23rd. Stifel Nicolaus set a $420.00 target price on Alphabet and gave the company a “buy” rating in a research note on Thursday, April 30th. Freedom Capital raised Alphabet from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 23rd. Wall Street Zen cut Alphabet from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and set a $425.00 target price on shares of Alphabet in a research note on Thursday, July 23rd. Six research analysts have rated the stock with a Strong Buy rating, forty-four have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Buy” and an average price target of $420.19.

Alphabet Stock Down 1.2%

NASDAQ GOOGL opened at $340.67 on Wednesday. Alphabet has a 1 year low of $199.43 and a 1 year high of $408.61. The stock has a market capitalization of $4.17 trillion, a PE ratio of 17.11, a PEG ratio of 0.97 and a beta of 1.24. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.72 and a quick ratio of 2.64. The business’s 50-day moving average is $352.30 and its 200 day moving average is $341.34.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Wednesday, July 22nd. The information services provider reported $9.11 earnings per share for the quarter, topping analysts’ consensus estimates of $2.89 by $6.22. The firm had revenue of $119.80 billion for the quarter, compared to analyst estimates of $117.07 billion. Alphabet had a return on equity of 51.32% and a net margin of 54.77%. Sell-side analysts forecast that Alphabet will post 20.51 earnings per share for the current year.

Insider Buying and Selling at Alphabet

In other news, major shareholder 2019 Gp L.L.C. Gv sold 118,138 shares of the firm’s stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $18.90, for a total value of $2,232,808.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Frances Arnold sold 82 shares of Alphabet stock in a transaction on Thursday, July 30th. The stock was sold at an average price of $333.39, for a total value of $27,337.98. Following the sale, the director owned 18,914 shares of the company’s stock, valued at approximately $6,305,738.46. This trade represents a 0.43% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 451,945 shares of company stock worth $12,382,714. Company insiders own 11.61% of the company’s stock.

Institutional Investors Weigh In On Alphabet

Several hedge funds have recently modified their holdings of the company. EMC Capital Management purchased a new stake in shares of Alphabet during the fourth quarter worth $33,000. Lifetime Wealth Management P.C. acquired a new stake in Alphabet during the fourth quarter worth $32,000. IFC & Insurance Marketing Inc. acquired a new stake in shares of Alphabet during the 4th quarter worth about $38,000. Bard Associates Inc. purchased a new stake in shares of Alphabet in the 4th quarter valued at approximately $52,000. Finally, Graney & King LLC raised its position in Alphabet by 38.5% in the second quarter. Graney & King LLC now owns 180 shares of the information services provider’s stock valued at $64,000 after purchasing an additional 50 shares during the period. 40.03% of the stock is owned by hedge funds and other institutional investors.

Alphabet News Roundup

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Rosenblatt Securities reaffirmed its “buy” rating and set a $410 price target, implying substantial upside from the reference price. The bullish view reflects confidence in Alphabet’s AI growth and earnings outlook. Benzinga article
• Positive Sentiment: Alphabet’s expanded custom-chip partnership with Marvell Technology strengthens its AI supply chain and reduces reliance on Broadcom. Marvell granted Google a warrant for up to 58.97 million shares, with most of the warrant vesting as Marvell generates as much as $120 billion in cumulative purchases from Google through 2033. The structure signals potentially significant long-term AI infrastructure spending, although the maximum commitment is not guaranteed. Google’s Marvell Warrant Doesn’t Fully Vest Until Google Buys $120 Billion of Chips
• Positive Sentiment: Waymo opened its lower-cost next-generation robotaxi to all riders in Los Angeles, Phoenix and San Francisco, supporting Alphabet’s effort to scale a potentially valuable autonomous-vehicle business. Waymo’s cheaper, next-gen robotaxi is now open to all riders in these three cities
• Positive Sentiment: Berkshire Hathaway’s continued ownership and increased exposure to Alphabet provide a high-profile vote of confidence in the company’s AI positioning and long-term prospects. Berkshire Hathaway Just Bought More of This Brilliant Artificial Intelligence Stock

About Alphabet

Alphabet Inc is the holding company created in 2015 to organize Google and a portfolio of businesses developing technologies beyond Google’s core internet services. Its principal operations are led by Google, which builds and operates consumer-facing products such as Google Search, YouTube, Android, Chrome, Gmail, Google Maps and Google Workspace, as well as advertising platforms (Google Ads and AdSense) that historically generate the majority of its revenue. Google also develops consumer hardware (Pixel phones, Nest smart-home devices, Chromecast) and developer and distribution platforms such as Google Play.

Beyond Google’s consumer and advertising businesses, Alphabet invests in enterprise and infrastructure offerings through Google Cloud, which provides cloud computing, data analytics and productivity services to businesses and institutions.