Alphabet (NASDAQ:GOOG – Get Rating) had its price objective lowered by equities research analysts at Raymond James from $3,630.00 to $3,180.00 in a research note issued to investors on Wednesday, The Fly reports. Raymond James’ price objective would suggest a potential upside of 33.05% from the stock’s previous close.
Several other analysts have also recently commented on GOOG. Wedbush reiterated an “outperform” rating on shares of Alphabet in a report on Wednesday, April 20th. Tigress Financial upped their target price on Alphabet from $3,540.00 to $3,670.00 in a report on Friday, March 18th. Credit Suisse Group increased their price target on Alphabet from $3,400.00 to $3,500.00 and gave the stock an “outperform” rating in a report on Wednesday, February 2nd. Zacks Investment Research cut Alphabet from a “buy” rating to a “hold” rating in a report on Tuesday, January 25th. Finally, JPMorgan Chase & Co. increased their price target on Alphabet from $3,250.00 to $3,450.00 and gave the stock an “overweight” rating in a report on Wednesday, February 2nd. Three research analysts have rated the stock with a hold rating and twenty-nine have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $3,316.31.
Alphabet stock opened at $2,390.12 on Wednesday. The business has a 50 day moving average of $2,660.95 and a 200-day moving average of $2,784.18. Alphabet has a 1 year low of $2,230.05 and a 1 year high of $3,042.00. The company has a market capitalization of $1.58 trillion, a P/E ratio of 21.30, a P/E/G ratio of 1.08 and a beta of 1.06. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.93 and a quick ratio of 2.91.
Alphabet (NASDAQ:GOOG – Get Rating) last announced its earnings results on Monday, January 31st. The information services provider reported $30.69 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $26.69 by $4.00. Alphabet had a return on equity of 31.56% and a net margin of 29.51%. The business had revenue of $75.33 billion for the quarter, compared to analysts’ expectations of $71.81 billion. During the same period in the prior year, the business posted $22.30 earnings per share. The firm’s revenue was up 32.4% on a year-over-year basis. Equities analysts anticipate that Alphabet will post 117.05 EPS for the current year.
In other Alphabet news, CEO Sundar Pichai sold 3,000 shares of the business’s stock in a transaction on Wednesday, February 2nd. The stock was sold at an average price of $2,992.62, for a total value of $8,977,860.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Amie Thuener O’toole sold 42 shares of the business’s stock in a transaction on Tuesday, February 1st. The stock was sold at an average price of $2,755.81, for a total value of $115,744.02. The disclosure for this sale can be found here. Insiders sold a total of 597,775 shares of company stock worth $153,262,635 over the last ninety days. Insiders own 12.99% of the company’s stock.
A number of institutional investors have recently bought and sold shares of GOOG. Morgan Stanley lifted its stake in shares of Alphabet by 2.1% in the 2nd quarter. Morgan Stanley now owns 2,433,132 shares of the information services provider’s stock valued at $6,098,209,000 after purchasing an additional 50,601 shares during the last quarter. Financial Council Asset Management Inc bought a new stake in shares of Alphabet in the 3rd quarter valued at approximately $296,000. AXS Investments LLC bought a new stake in shares of Alphabet in the 3rd quarter valued at approximately $1,231,000. Bender Robert & Associates lifted its stake in shares of Alphabet by 36.5% in the 3rd quarter. Bender Robert & Associates now owns 4,630 shares of the information services provider’s stock valued at $12,339,000 after purchasing an additional 1,238 shares during the last quarter. Finally, New World Advisors LLC bought a new stake in shares of Alphabet in the 3rd quarter valued at approximately $724,000. Institutional investors own 30.76% of the company’s stock.
About Alphabet (Get Rating)
Alphabet Inc provides various products and platforms in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment offers products and services, including ads, Android, Chrome, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.
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