The Goldman Sachs Group Reiterates $150.00 Price Target for Alphabet (NASDAQ:GOOG)

The Goldman Sachs Group set a $150.00 target price on Alphabet (NASDAQ:GOOGGet Rating) in a report released on Wednesday morning, MarketBeat reports.

A number of other brokerages have also commented on GOOG. Susquehanna dropped their price target on Alphabet from $187.00 to $150.00 in a research note on Wednesday. Canaccord Genuity Group dropped their price target on Alphabet from $175.00 to $165.00 and set a buy rating for the company in a research note on Wednesday, April 27th. Deutsche Bank Aktiengesellschaft decreased their price objective on Alphabet from $157.50 to $145.00 in a report on Wednesday, April 27th. Cowen decreased their price objective on Alphabet from $300.00 to $150.00 in a report on Monday, July 25th. Finally, Cowen decreased their price objective on Alphabet from $300.00 to $150.00 in a report on Monday, July 25th. One research analyst has rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of Moderate Buy and an average target price of $157.71.

Alphabet Stock Performance

NASDAQ:GOOG opened at $116.64 on Wednesday. The firm has a market cap of $1.54 trillion, a PE ratio of 21.10, a price-to-earnings-growth ratio of 1.13 and a beta of 1.10. Alphabet has a fifty-two week low of $102.21 and a fifty-two week high of $152.10. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.85 and a current ratio of 2.87. The business has a 50 day moving average price of $155.33 and a 200-day moving average price of $139.20.

Alphabet (NASDAQ:GOOGGet Rating) last released its quarterly earnings data on Tuesday, July 26th. The information services provider reported $1.21 earnings per share for the quarter, missing analysts’ consensus estimates of $26.24 by ($25.03). Alphabet had a net margin of 27.57% and a return on equity of 30.18%. During the same period in the previous year, the business posted $27.26 EPS. Equities research analysts predict that Alphabet will post 5.37 earnings per share for the current year.

Insider Buying and Selling

In other news, major shareholder 2021 Gp L.L.C. Gv bought 255,647 shares of the company’s stock in a transaction on Tuesday, May 10th. The shares were acquired at an average cost of $34.65 per share, with a total value of $8,858,168.55. Following the completion of the transaction, the insider now owns 479,695 shares of the company’s stock, valued at approximately $16,621,431.75. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, major shareholder 2021 Gp L.L.C. Gv acquired 255,647 shares of the stock in a transaction dated Tuesday, May 10th. The shares were purchased at an average cost of $34.65 per share, with a total value of $8,858,168.55. Following the transaction, the insider now directly owns 479,695 shares in the company, valued at $16,621,431.75. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Ann Mather sold 300 shares of Alphabet stock in a transaction dated Monday, July 25th. The shares were sold at an average price of $108.94, for a total value of $32,682.00. Following the transaction, the director now directly owns 11,360 shares in the company, valued at $1,237,558.40. The disclosure for this sale can be found here. In the last ninety days, insiders sold 7,269 shares of company stock worth $12,792,226. 12.99% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Alphabet

Large investors have recently modified their holdings of the stock. Aaron Wealth Advisors LLC boosted its holdings in 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 shares of Alphabet in the 4th quarter worth $2,249,092,000. Royal London Asset Management Ltd. lifted its holdings in shares of 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 buying an additional 348,078 shares during the period. Granite Investment Partners LLC lifted its holdings in shares of 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 buying an additional 345,148 shares during the period. Finally, TD Asset Management Inc. lifted its holdings in shares of 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 buying an additional 340,733 shares during the period. Institutional investors own 31.20% of the company’s stock.

Alphabet Company Profile

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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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