Alphabet Inc. (GOOG) Earns Buy Rating from Cantor Fitzgerald
Several other equities research analysts have also commented on the stock. Goldman Sachs Group Inc. set a $810.00 target price on shares of Alphabet and gave the stock a buy rating in a research report on Wednesday, July 20th. Vetr upgraded shares of Alphabet from a buy rating to a strong-buy rating and set a $778.71 target price on the stock in a research report on Monday, June 20th. Longbow Research initiated coverage on shares of Alphabet in a research report on Wednesday, July 6th. They set a buy rating on the stock. JPMorgan Chase & Co. restated a buy rating on shares of Alphabet in a research report on Tuesday, September 27th. Finally, Societe Generale set a $910.00 target price on shares of Alphabet and gave the stock a buy rating in a research report on Thursday, July 7th. One research analyst has rated the stock with a sell rating, one has given a hold rating, forty-five have assigned a buy rating and one has issued a strong buy rating to the company. Alphabet presently has a consensus rating of Buy and an average price target of $926.55.
Shares of Alphabet (NASDAQ:GOOG) traded up 0.92% during midday trading on Wednesday, hitting $782.21. 241,906 shares of the company were exchanged. Alphabet has a 52-week low of $639.01 and a 52-week high of $789.87. The company has a 50-day moving average price of $773.14 and a 200-day moving average price of $740.29. The stock has a market capitalization of $537.59 billion, a price-to-earnings ratio of 30.31 and a beta of 1.03.
Alphabet (NASDAQ:GOOG) last issued its earnings results on Thursday, July 28th. The company reported $8.42 EPS for the quarter, topping the consensus estimate of $8.03 by $0.39. The company had revenue of $21.50 billion for the quarter, compared to analyst estimates of $20.74 billion. Alphabet had a net margin of 22.00% and a return on equity of 14.74%. The business’s revenue was up 21.3% on a year-over-year basis. During the same period in the previous year, the firm earned $6.99 EPS. On average, analysts forecast that Alphabet will post $34.14 EPS for the current year.
In other news, CEO Lawrence Page sold 33,332 shares of the stock in a transaction on Monday, July 25th. The stock was sold at an average price of $748.02, for a total value of $24,933,002.64. Following the completion of the transaction, the chief executive officer now owns 30,666 shares of the company’s stock, valued at $22,938,781.32. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP David C. Drummond sold 5,000 shares of the stock in a transaction on Tuesday, July 12th. The stock was sold at an average price of $725.52, for a total value of $3,627,600.00. Following the completion of the transaction, the senior vice president now directly owns 13,248 shares of the company’s stock, valued at approximately $9,611,688.96. The disclosure for this sale can be found here. 13.92% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Advisory Services Network LLC boosted its position in Alphabet by 23.3% in the third quarter. Advisory Services Network LLC now owns 1,881 shares of the company’s stock valued at $1,462,000 after buying an additional 355 shares during the last quarter. Simplex Trading LLC acquired a new position in Alphabet during the third quarter valued at about $10,291,000. Catawba Capital Management VA acquired a new position in Alphabet during the third quarter valued at about $221,000. Pure Financial Advisors Inc. acquired a new position in Alphabet during the third quarter valued at about $205,000. Finally, Woodstock Corp boosted its position in Alphabet by 0.4% in the third quarter. Woodstock Corp now owns 9,916 shares of the company’s stock valued at $7,708,000 after buying an additional 37 shares during the last quarter. 34.39% of the stock is owned by institutional investors.
Alphabet Company Profile
Alphabet Inc is a holding company. The Company holds interests in Google Inc (Google). The Company’s segments include Google and Other Bets. Google segment includes Internet products, such as Search, Ads, Commerce, Maps, YouTube, Apps, Cloud, Android, Chrome, Google Play, and hardware products, including Chromecast, Chromebooks and Nexus, which are sold by the Company.
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