Alphabet (NASDAQ:GOOG) Rating Reiterated by Goldman Sachs Group

Alphabet (NASDAQ:GOOG)‘s stock had its “buy” rating restated by investment analysts at Goldman Sachs Group in a note issued to investors on Friday, Borsen Zeitung reports.

Other equities research analysts have also issued research reports about the company. Credit Suisse Group restated a “buy” rating and set a $29.00 price target on shares of Clovis Oncology in a research note on Wednesday, May 15th. Stifel Nicolaus boosted their price target on Western Digital from $48.00 to $55.00 and gave the stock a “buy” rating in a research note on Tuesday, April 30th. JPMorgan Chase & Co. boosted their price target on Weight Watchers International from $12.00 to $14.00 and gave the stock an “underweight” rating in a research note on Tuesday, April 30th. Cowen restated an “outperform” rating and set a $1,420.00 price target (up previously from $1,390.00) on shares of Alphabet in a research note on Thursday, April 11th. Finally, Deutsche Bank boosted their price target on Alphabet from $1,300.00 to $1,400.00 and gave the stock a “buy” rating in a research note on Wednesday, May 15th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and twenty-six have issued a buy rating to the company. The company has an average rating of “Buy” and an average price target of $1,361.50.

Shares of GOOG stock opened at $1,144.90 on Friday. Alphabet has a fifty-two week low of $970.11 and a fifty-two week high of $1,289.27. The stock has a market capitalization of $794.36 billion, a price-to-earnings ratio of 24.10, a price-to-earnings-growth ratio of 1.35 and a beta of 0.95. The company has a debt-to-equity ratio of 0.02, a current ratio of 3.96 and a quick ratio of 3.93. The business’s 50-day simple moving average is $1,101.28.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Monday, April 29th. The information services provider reported $11.90 earnings per share for the quarter, topping the Zacks’ consensus estimate of $10.51 by $1.39. Alphabet had a return on equity of 20.06% and a net margin of 19.71%. The business had revenue of $36.34 billion for the quarter, compared to analyst estimates of $37.36 billion. During the same quarter in the previous year, the firm earned $9.93 earnings per share. The company’s revenue was up 16.7% on a year-over-year basis. As a group, equities analysts expect that Alphabet will post 48.44 earnings per share for the current year.

In related news, Director Ann Mather sold 39 shares of Alphabet stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $1,100.00, for a total transaction of $42,900.00. Following the completion of the sale, the director now owns 1,797 shares of the company’s stock, valued at $1,976,700. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Amie Thuener O’toole sold 69 shares of Alphabet stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $1,100.52, for a total value of $75,935.88. Following the sale, the vice president now directly owns 388 shares of the company’s stock, valued at approximately $427,001.76. The disclosure for this sale can be found here. Insiders have sold 403 shares of company stock valued at $461,293 in the last ninety days. Corporate insiders own 12.99% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in the stock. B. Riley Wealth Management Inc. lifted its holdings in Alphabet by 9.0% in the first quarter. B. Riley Wealth Management Inc. now owns 980 shares of the information services provider’s stock valued at $1,150,000 after acquiring an additional 81 shares during the period. Suncoast Equity Management lifted its holdings in Alphabet by 1.0% in the fourth quarter. Suncoast Equity Management now owns 15,662 shares of the information services provider’s stock valued at $16,220,000 after acquiring an additional 148 shares during the period. First National Bank of Hutchinson lifted its holdings in Alphabet by 3.7% in the fourth quarter. First National Bank of Hutchinson now owns 1,232 shares of the information services provider’s stock valued at $1,276,000 after acquiring an additional 44 shares during the period. Vigilant Capital Management LLC lifted its holdings in Alphabet by 6.4% in the fourth quarter. Vigilant Capital Management LLC now owns 183 shares of the information services provider’s stock valued at $190,000 after acquiring an additional 11 shares during the period. Finally, Cypress Wealth Services LLC lifted its holdings in Alphabet by 2.9% in the fourth quarter. Cypress Wealth Services LLC now owns 789 shares of the information services provider’s stock valued at $817,000 after acquiring an additional 22 shares during the period. 33.95% of the stock is owned by hedge funds and other institutional investors.

About Alphabet

Alphabet Inc provides online advertising services in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It offers performance and brand advertising services. The company operates through Google and Other Bets segments. The Google segment offers products, such as Ads, Android, Chrome, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure.

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Analyst Recommendations for Alphabet (NASDAQ:GOOG)

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