Alphabet’s (GOOG) Outperform Rating Reaffirmed at Credit Suisse Group AG
Credit Suisse Group AG reissued their outperform rating on shares of Alphabet Inc. (NASDAQ:GOOG) in a report published on Monday morning. Credit Suisse Group AG currently has a $1,070.00 target price on the stock, up from their prior target price of $940.00.
GOOG has been the subject of a number of other research reports. Stifel Nicolaus restated a buy rating and set a $925.00 price objective (up previously from $888.00) on shares of Alphabet in a report on Friday, July 29th. Longbow Research began coverage on Alphabet in a report on Wednesday, July 6th. They set a buy rating for the company. Macquarie reiterated an outperform rating and issued a $975.00 target price on shares of Alphabet in a report on Friday, July 29th. Goldman Sachs Group Inc. set a $810.00 target price on Alphabet and gave the stock a buy rating in a report on Wednesday, July 20th. Finally, Credit Agricole SA reiterated a buy rating on shares of Alphabet in a report on Friday, September 23rd. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, forty-five have assigned a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of Buy and an average target price of $929.51.
Shares of Alphabet (NASDAQ:GOOG) traded up 1.43% during trading on Monday, hitting $791.11. The stock had a trading volume of 548,062 shares. The stock has a 50-day moving average price of $774.96 and a 200 day moving average price of $742.05. The company has a market cap of $543.71 billion, a P/E ratio of 30.65 and a beta of 1.03. Alphabet has a 12 month low of $641.73 and a 12 month high of $793.16.
Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Thursday, July 28th. The company reported $8.42 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $8.03 by $0.39. Alphabet had a return on equity of 14.74% and a net margin of 22.00%. The company earned $21.50 billion during the quarter, compared to analysts’ expectations of $20.74 billion. During the same quarter in the previous year, the business earned $6.99 EPS. Alphabet’s revenue was up 21.3% compared to the same quarter last year. Equities analysts expect that Alphabet will post $34.14 EPS for the current fiscal year.
In other Alphabet news, CEO Sundar Pichai sold 4,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 5th. The stock was sold at an average price of $781.81, for a total transaction of $3,127,240.00. Following the transaction, the chief executive officer now owns 3,231 shares in the company, valued at approximately $2,526,028.11. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Sergey Brin sold 33,332 shares of the business’s stock in a transaction that occurred on Thursday, September 29th. The stock was sold at an average price of $748.75, for a total value of $24,957,335.00. Following the transaction, the insider now owns 16,666 shares in the company, valued at approximately $12,478,667.50. The disclosure for this sale can be found here. Insiders own 13.92% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the company. Mesirow Financial Investment Management Equity Management acquired a new position in Alphabet during the second quarter valued at about $121,000. Whitnell & Co. boosted its position in Alphabet by 20.6% in the second quarter. Whitnell & Co. now owns 187 shares of the company’s stock valued at $129,000 after buying an additional 32 shares during the last quarter. D. Scott Neal Inc. boosted its position in Alphabet by 2,000.0% in the second quarter. D. Scott Neal Inc. now owns 210 shares of the company’s stock valued at $145,000 after buying an additional 200 shares during the last quarter. Pathstone Family Office LLC boosted its position in Alphabet by 7.2% in the second quarter. Pathstone Family Office LLC now owns 222 shares of the company’s stock valued at $154,000 after buying an additional 15 shares during the last quarter. Finally, Cacti Asset Management LLC acquired a new position in Alphabet during the second quarter valued at about $159,000. Institutional investors own 34.39% of the company’s stock.
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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