Alphabet (NASDAQ:GOOGL) Earns “Neutral” Rating from UBS Group

Alphabet (NASDAQ:GOOGL)‘s stock had its “neutral” rating reiterated by equities research analysts at UBS Group in a note issued to investors on Wednesday,MarketScreener reports.

A number of other research firms have also commented on GOOGL. Guggenheim reissued a “buy” rating and issued a $280.00 price target (up from $210.00) on shares of Alphabet in a research report on Friday, October 17th. Barclays increased their target price on shares of Alphabet from $235.00 to $250.00 and gave the company an “overweight” rating in a report on Wednesday, September 3rd. Needham & Company LLC increased their target price on shares of Alphabet from $220.00 to $260.00 and gave the company a “buy” rating in a report on Wednesday, September 3rd. Sanford C. Bernstein increased their target price on shares of Alphabet from $210.00 to $260.00 and gave the company a “market perform” rating in a report on Wednesday. Finally, HSBC assumed coverage on shares of Alphabet in a research note on Tuesday, October 7th. They issued a “buy” rating and a $285.00 price objective for the company. Four investment analysts have rated the stock with a Strong Buy rating, thirty-four have given a Buy rating and ten have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Alphabet presently has an average rating of “Moderate Buy” and an average target price of $259.12.

Alphabet Trading Up 0.6%

GOOGL opened at $253.08 on Wednesday. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. Alphabet has a fifty-two week low of $140.53 and a fifty-two week high of $257.33. The firm has a market capitalization of $3.06 trillion, a PE ratio of 26.95, a P/E/G ratio of 1.70 and a beta of 1.00. The company’s 50-day moving average is $235.60 and its 200 day moving average is $194.45.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, topping the consensus estimate of $2.15 by $0.16. The firm had revenue of $96.43 billion during the quarter, compared to the consensus estimate of $93.60 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. As a group, research analysts predict that Alphabet will post 8.9 earnings per share for the current fiscal year.

Insider Activity at Alphabet

In related news, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction that occurred on Wednesday, September 17th. The shares were sold at an average price of $249.50, for a total value of $8,108,750.00. Following the completion of the transaction, the chief executive officer directly owned 2,397,392 shares in the company, valued at approximately $598,149,304. The trade was a 1.34% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider John Kent Walker sold 23,820 shares of Alphabet stock in a transaction on Monday, August 4th. The shares were sold at an average price of $194.70, for a total value of $4,637,754.00. Following the completion of the transaction, the insider owned 42,999 shares of the company’s stock, valued at approximately $8,371,905.30. This trade represents a 35.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 246,150 shares of company stock worth $55,805,379. Corporate insiders own 11.64% of the company’s stock.

Hedge Funds Weigh In On Alphabet

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Conway Capital Management Inc. grew its position in Alphabet by 1.3% during the third quarter. Conway Capital Management Inc. now owns 25,693 shares of the information services provider’s stock worth $6,246,000 after buying an additional 325 shares in the last quarter. Capital Investment Advisors LLC grew its holdings in shares of Alphabet by 1.8% during the third quarter. Capital Investment Advisors LLC now owns 428,854 shares of the information services provider’s stock worth $104,254,000 after purchasing an additional 7,578 shares in the last quarter. Planned Solutions Inc. purchased a new position in shares of Alphabet during the third quarter worth about $516,000. Nova R Wealth Inc. grew its stake in Alphabet by 6.6% in the 3rd quarter. Nova R Wealth Inc. now owns 4,169 shares of the information services provider’s stock worth $1,014,000 after buying an additional 259 shares in the last quarter. Finally, Miller Wealth Advisors LLC grew its stake in Alphabet by 0.3% in the 3rd quarter. Miller Wealth Advisors LLC now owns 122,563 shares of the information services provider’s stock worth $29,850,000 after buying an additional 376 shares in the last quarter. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

About Alphabet

Alphabet Inc offers 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 provides products and services, including ads, Android, Chrome, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.