Alphabet Inc. (NASDAQ:GOOG)‘s stock had its “outperform” rating restated by investment analysts at Royal Bank Of Canada in a report released on Monday. They presently have a $1,050.00 price target on the information services provider’s stock. Royal Bank Of Canada’s price objective indicates a potential upside of 13.02% from the stock’s current price.
A number of other equities research analysts also recently issued reports on the company. UBS AG reissued a “buy” rating and set a $1,080.00 price target on shares of Alphabet in a research report on Monday. Credit Suisse Group reissued an “outperform” rating on shares of Alphabet in a research report on Thursday, August 31st. Vetr downgraded Alphabet from a “strong-buy” rating to a “buy” rating and set a $1,033.60 price target for the company. in a research report on Wednesday, August 30th. Monness Crespi & Hardt reissued a “buy” rating on shares of Alphabet in a research report on Saturday, August 26th. Finally, Robert W. Baird reissued an “outperform” rating and set a $1,100.00 price target on shares of Alphabet in a research report on Saturday, August 26th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and forty-one have assigned a buy rating to the company’s stock. Alphabet has an average rating of “Buy” and an average price target of $1,031.14.
Shares of Alphabet (GOOG) traded up 0.28% during trading on Monday, reaching $929.08. The company had a trading volume of 1,265,997 shares. The firm has a market capitalization of $643.74 billion, a price-to-earnings ratio of 33.67 and a beta of 0.94. The firm has a 50-day moving average of $927.87 and a 200 day moving average of $905.08. Alphabet has a 52 week low of $727.54 and a 52 week high of $988.25.
Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Monday, July 24th. The information services provider reported $5.01 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $4.43 by $0.58. Alphabet had a return on equity of 13.66% and a net margin of 19.49%. The firm had revenue of $26.01 billion during the quarter, compared to the consensus estimate of $25.61 billion. During the same quarter in the previous year, the business earned $8.42 earnings per share. The firm’s quarterly revenue was up 21.0% compared to the same quarter last year. On average, equities research analysts forecast that Alphabet will post $30.59 earnings per share for the current year.
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In related news, Director Shirley M. Tilghman sold 525 shares of the stock in a transaction on Friday, July 28th. The stock was sold at an average price of $938.09, for a total transaction of $492,497.25. Following the completion of the sale, the director now directly owns 5,517 shares in the company, valued at $5,175,442.53. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Sundar Pichai sold 4,000 shares of the stock in a transaction on Wednesday, September 6th. The stock was sold at an average price of $931.44, for a total value of $3,725,760.00. Following the sale, the chief executive officer now owns 1,618 shares of the company’s stock, valued at $1,507,069.92. The disclosure for this sale can be found here. Insiders sold 45,184 shares of company stock valued at $42,115,482 in the last 90 days. Corporate insiders own 13.92% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Doyle Wealth Management raised its holdings in Alphabet by 6.7% during the second quarter. Doyle Wealth Management now owns 3,182 shares of the information services provider’s stock valued at $2,891,000 after buying an additional 200 shares in the last quarter. Adviser Investments LLC bought a new position in Alphabet during the first quarter valued at about $1,276,000. Farmers & Merchants Investments Inc. raised its holdings in Alphabet by 0.3% during the first quarter. Farmers & Merchants Investments Inc. now owns 5,464 shares of the information services provider’s stock valued at $4,533,000 after buying an additional 18 shares in the last quarter. Rothschild Investment Corp IL raised its holdings in Alphabet by 1.7% during the second quarter. Rothschild Investment Corp IL now owns 10,809 shares of the information services provider’s stock valued at $9,823,000 after buying an additional 184 shares in the last quarter. Finally, Hartford Investment Management Co. raised its holdings in Alphabet by 6.1% during the first quarter. Hartford Investment Management Co. now owns 79,529 shares of the information services provider’s stock valued at $65,974,000 after buying an additional 4,602 shares in the last quarter. Institutional investors own 34.55% 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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