Alphabet Inc. (NASDAQ:GOOG) Given Average Recommendation of “Buy” by Analysts

Alphabet Inc. (NASDAQ:GOOGGet Rating) has been assigned an average recommendation of “Buy” from the thirty-four brokerages that are currently covering the company, MarketBeat Ratings reports. Twenty-seven analysts have rated the stock with a buy recommendation. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $161.10.

Several research analysts have recently issued reports on the stock. JPMorgan Chase & Co. set a $140.00 price objective on shares of Alphabet in a report on Thursday. MKM Partners reduced their target price on shares of Alphabet from $165.00 to $140.00 and set a “buy” rating for the company in a report on Monday, July 18th. Wedbush restated an “outperform” rating on shares of Alphabet in a report on Wednesday, April 20th. Cowen decreased their price objective on shares of Alphabet from $160.00 to $150.00 and set an “outperform” rating for the company in a research note on Wednesday, July 13th. Finally, Raymond James decreased their price objective on shares of Alphabet from $181.50 to $159.00 in a research note on Wednesday, April 27th.

Alphabet Stock Performance

Shares of Alphabet stock opened at $108.36 on Friday. The firm has a market cap of $1.43 trillion, a PE ratio of 19.60, a price-to-earnings-growth ratio of 1.18 and a beta of 1.10. The firm’s 50-day simple moving average is $155.44 and its 200-day simple moving average is $140.16. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.85 and a current ratio of 2.87. Alphabet has a 1 year low of $102.21 and a 1 year high of $152.10.

Alphabet (NASDAQ:GOOGGet Rating) last announced its quarterly earnings results on Tuesday, April 26th. The information services provider reported $1.23 EPS for the quarter, missing the consensus estimate of $1.28 by ($0.05). Alphabet had a net margin of 27.57% and a return on equity of 30.18%. The firm had revenue of $56.02 billion during the quarter, compared to analyst estimates of $56.17 billion. During the same quarter in the previous year, the business posted $1.31 EPS. Equities analysts forecast that Alphabet will post 5.43 earnings per share for the current fiscal year.

Insider Activity at Alphabet

In other Alphabet news, Director John L. Hennessy sold 75 shares of the stock in a transaction dated Monday, July 11th. The shares were sold at an average price of $2,337.13, for a total transaction of $175,284.75. Following the sale, the director now directly owns 233 shares in the company, valued at $544,551.29. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Alphabet news, SVP Prabhakar Raghavan sold 490 shares of the firm’s stock in a transaction that occurred on Tuesday, May 3rd. The shares were sold at an average price of $2,335.30, for a total transaction of $1,144,297.00. Following the completion of the transaction, the senior vice president now owns 497 shares in the company, valued at approximately $1,160,644.10. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director John L. Hennessy sold 75 shares of the firm’s stock in a transaction that occurred on Monday, July 11th. The stock was sold at an average price of $2,337.13, for a total transaction of $175,284.75. Following the transaction, the director now owns 233 shares of the company’s stock, valued at approximately $544,551.29. The disclosure for this sale can be found here. Over the last three months, insiders have sold 5,739 shares of company stock worth $12,616,323. Corporate insiders own 12.99% of the company’s stock.

Institutional Trading of Alphabet

Several large investors have recently modified their holdings of the stock. Aaron Wealth Advisors LLC grew its position in shares of Alphabet by 492,443.2% during the 1st quarter. Aaron Wealth Advisors LLC now owns 6,476,943 shares of the information services provider’s stock valued at $2,319,000 after acquiring an additional 6,475,628 shares during the period. Norges Bank purchased a new stake in Alphabet in the 4th quarter worth approximately $2,249,092,000. Royal London Asset Management Ltd. lifted its stake in Alphabet by 362.6% in the 1st quarter. Royal London Asset Management Ltd. now owns 444,067 shares of the information services provider’s stock worth $1,236,081,000 after purchasing an additional 348,078 shares in the last quarter. Granite Investment Partners LLC lifted its stake in Alphabet by 1,871.0% in the 2nd quarter. Granite Investment Partners LLC now owns 363,595 shares of the information services provider’s stock worth $39,767,000 after purchasing an additional 345,148 shares in the last quarter. Finally, TD Asset Management Inc. lifted its stake in Alphabet by 62.0% in the 4th quarter. TD Asset Management Inc. now owns 890,592 shares of the information services provider’s stock worth $2,577,008,000 after purchasing an additional 340,733 shares in the last quarter. Institutional investors and hedge funds own 31.20% of the company’s stock.

Alphabet Company Profile

(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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Analyst Recommendations for Alphabet (NASDAQ:GOOG)

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