Alphabet Inc (NASDAQ:GOOG) was upgraded by analysts at Vetr from a “hold” rating to a “buy” rating in a research report issued on Monday. The firm currently has a $891.70 price target on the stock. Vetr‘s price objective indicates a potential upside of 5.12% from the stock’s current price.
A number of other equities research analysts have also weighed in on the stock. Pivotal Research lowered shares of Alphabet from a “buy” rating to a “hold” rating and reduced their target price for the stock from $970.00 to $950.00 in a report on Monday. Cantor Fitzgerald reissued an “overweight” rating and set a $1,040.00 target price on shares of Alphabet in a report on Monday, March 13th. Hilliard Lyons reissued a “neutral” rating and set a $865.00 target price on shares of Alphabet in a report on Saturday, March 11th. Wells Fargo & Co reissued an “outperform” rating and set a $1,000.00 target price (up from $975.00) on shares of Alphabet in a report on Saturday, March 11th. Finally, Pacific Crest reissued an “overweight” rating and set a $1,040.00 target price on shares of Alphabet in a report on Saturday, March 11th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and forty-two have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $960.20.
Shares of Alphabet (NASDAQ:GOOG) traded down 0.44% during midday trading on Monday, hitting $848.40. 1,231,521 shares of the stock traded hands. The firm has a 50-day moving average price of $824.43 and a 200-day moving average price of $793.16. The stock has a market capitalization of $586.60 billion, a P/E ratio of 30.43 and a beta of 0.94. Alphabet has a 52 week low of $663.28 and a 52 week high of $853.40.
Alphabet (NASDAQ:GOOG) last posted its earnings results on Thursday, January 26th. The company reported $9.36 earnings per share for the quarter, missing the Zacks’ consensus estimate of $9.67 by $0.31. Alphabet had a return on equity of 14.85% and a net margin of 21.58%. The business had revenue of $26.04 billion for the quarter, compared to the consensus estimate of $25.18 billion. During the same period in the previous year, the firm earned $8.67 earnings per share. The company’s revenue was up 22.2% compared to the same quarter last year. On average, equities analysts predict that Alphabet will post $33.36 earnings per share for the current fiscal year.
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In related news, Director Ann Mather sold 44 shares of the stock in a transaction dated Wednesday, January 4th. The shares were sold at an average price of $792.27, for a total transaction of $34,859.88. Following the completion of the transaction, the director now owns 1,656 shares in the company, valued at $1,311,999.12. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Sundar Pichai sold 4,000 shares of the stock in a transaction dated Wednesday, March 15th. The shares were sold at an average price of $849.50, for a total transaction of $3,398,000.00. Following the transaction, the chief executive officer now owns 2,123 shares of the company’s stock, valued at approximately $1,803,488.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 585,906 shares of company stock valued at $471,330,236. Company insiders own 13.92% of the company’s stock.
A number of institutional investors have recently bought and sold shares of the stock. Signature Estate & Investment Advisors LLC acquired a new position in shares of Alphabet during the third quarter worth $102,000. Empirical Finance LLC acquired a new position in shares of Alphabet during the fourth quarter worth $115,000. Quantbot Technologies LP raised its position in shares of Alphabet by 64.2% in the third quarter. Quantbot Technologies LP now owns 156 shares of the company’s stock worth $121,000 after buying an additional 61 shares in the last quarter. Trust Department MB Financial Bank N A raised its position in shares of Alphabet by 3.0% in the third quarter. Trust Department MB Financial Bank N A now owns 170 shares of the company’s stock worth $132,000 after buying an additional 5 shares in the last quarter. Finally, Klingman & Associates LLC raised its position in shares of Alphabet by 28.7% in the third quarter. Klingman & Associates LLC now owns 184 shares of the company’s stock worth $143,000 after buying an additional 41 shares in the last quarter. Institutional investors own 34.74% of the company’s stock.
Alphabet Company Profile
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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