Alphabet (GOOG) Receives Buy Rating from Morgan Stanley

Alphabet (NASDAQ:GOOG)‘s stock had its “buy” rating reiterated by investment analysts at Morgan Stanley in a research note issued on Wednesday.

Several other equities research analysts have also commented on GOOG. BidaskClub upgraded Alphabet from a “hold” rating to a “buy” rating in a research report on Wednesday, June 6th. Societe Generale restated a “buy” rating on shares of Alphabet in a research report on Friday, July 6th. Royal Bank of Canada restated a “buy” rating on shares of Alphabet in a research report on Tuesday, July 10th. Nomura restated a “buy” rating on shares of Alphabet in a research report on Wednesday, July 11th. Finally, Cowen upped their target price on Alphabet from $1,245.00 to $1,350.00 and gave the company an “outperform” rating in a research report on Friday, July 13th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-seven have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $1,276.48.

Shares of Alphabet stock traded down $5.91 on Wednesday, hitting $1,178.74. 9,369 shares of the company’s stock traded hands, compared to its average volume of 1,477,151. Alphabet has a one year low of $921.14 and a one year high of $1,273.89. The company has a debt-to-equity ratio of 0.02, a current ratio of 4.15 and a quick ratio of 4.13. The firm has a market cap of $816.60 billion, a price-to-earnings ratio of 28.65 and a beta of 1.11.

Alphabet (NASDAQ:GOOG) last announced its earnings results on Monday, July 23rd. The information services provider reported $11.75 EPS for the quarter, beating the consensus estimate of $9.66 by $2.09. Alphabet had a return on equity of 18.24% and a net margin of 13.16%. The company had revenue of $32.66 billion for the quarter, compared to analyst estimates of $32.13 billion. During the same quarter in the prior year, the company earned $5.01 EPS. The firm’s revenue for the quarter was up 25.6% compared to the same quarter last year.

In related news, VP Amie Thuener O’toole sold 73 shares of the company’s stock in a transaction that occurred on Tuesday, July 3rd. The stock was sold at an average price of $1,135.82, for a total transaction of $82,914.86. Following the transaction, the vice president now directly owns 388 shares of the company’s stock, valued at approximately $440,698.16. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Sundar Pichai sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 19th. The stock was 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 directly owns 546 shares in the company, valued at $633,589.32. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 88,362 shares of company stock worth $105,424,908. 13.11% of the stock is owned by company insiders.

A number of hedge funds have recently bought and sold shares of the stock. HC Financial Advisors Inc. purchased a new stake in shares of Alphabet during the fourth quarter valued at approximately $1,156,000. Marathon Trading Investment Management LLC increased its position in shares of Alphabet by 62.5% during the fourth quarter. Marathon Trading Investment Management LLC now owns 1,300 shares of the information services provider’s stock valued at $1,360,000 after acquiring an additional 500 shares during the last quarter. Empire Life Investments Inc. increased its position in shares of Alphabet by 17.2% during the fourth quarter. Empire Life Investments Inc. now owns 22,486 shares of the information services provider’s stock valued at $23,529,000 after acquiring an additional 3,308 shares during the last quarter. Earnest Partners LLC purchased a new stake in shares of Alphabet during the fourth quarter valued at approximately $148,000. Finally, Captrust Financial Advisors purchased a new stake in shares of Alphabet during the fourth quarter valued at approximately $9,117,000. 34.20% of the stock is currently owned by institutional investors and hedge funds.

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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Analyst Recommendations for Alphabet (NASDAQ:GOOG)

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