Pivotal Research Lowers Alphabet Inc (GOOG) to Hold
Alphabet Inc (NASDAQ:GOOG) was downgraded by stock analysts at Pivotal Research from a “buy” rating to a “hold” rating in a report released on Monday. They currently have a $950.00 price target on the stock, down from their previous price target of $970.00. Pivotal Research’s price objective points to a potential upside of 12.00% from the company’s previous close.
The analysts wrote, “The approach comes across to us as attempting to minimize the problem rather than eliminating it, which is the standard we think that many large brand advertisers expect,” the analyst argued. “We think that Google will probably need to articulate goals that sound more like a zero tolerance policy, to alleviate concerns before it can fully recover.”
GOOG has been the subject of a number of other reports. Needham & Company LLC increased their target price on Alphabet from $925.00 to $935.00 and gave the company a “buy” rating in a research report on Friday, January 27th. Vetr upgraded Alphabet from a “sell” rating to a “hold” rating and set a $849.81 target price for the company in a research report on Wednesday, March 1st. Susquehanna Bancshares Inc reiterated a “positive” rating and set a $1,000.00 target price on shares of Alphabet in a research report on Tuesday, January 31st. Royal Bank of Canada reiterated an “outperform” rating on shares of Alphabet in a research report on Monday, March 6th. Finally, Societe Generale reiterated a “buy” rating on shares of Alphabet in a research report on Thursday, February 2nd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and forty-one have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $959.25.
Alphabet (NASDAQ:GOOG) traded down 0.44% on Monday, hitting $848.40. 1,190,312 shares of the company were exchanged. The stock has a market capitalization of $586.60 billion, a P/E ratio of 30.43 and a beta of 0.94. The company has a 50 day moving average price of $824.43 and a 200-day moving average price of $793.16. Alphabet has a 52 week low of $663.28 and a 52 week high of $853.40.
Alphabet (NASDAQ:GOOG) last posted its earnings results on Thursday, January 26th. The company reported $9.36 EPS for the quarter, missing analysts’ consensus estimates of $9.67 by $0.31. The firm had revenue of $26.04 billion for the quarter, compared to the consensus estimate of $25.18 billion. Alphabet had a net margin of 21.58% and a return on equity of 14.85%. The firm’s revenue was up 22.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $8.67 earnings per share. On average, equities analysts expect that Alphabet will post $33.36 earnings per share for the current fiscal year.
Your IP Address:
In other Alphabet news, Director Ann Mather sold 44 shares of the company’s stock in a transaction on Wednesday, January 4th. The stock was sold at an average price of $792.27, for a total value of $34,859.88. Following the completion of the sale, the director now directly owns 1,656 shares in the company, valued at approximately $1,311,999.12. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Sundar Pichai sold 4,000 shares of the company’s stock in a transaction on Wednesday, December 21st. The shares were sold at an average price of $797.70, for a total value of $3,190,800.00. Following the completion of the sale, the chief executive officer now owns 2,563 shares of the company’s stock, valued at $2,044,505.10. The disclosure for this sale can be found here. Insiders have sold 585,906 shares of company stock valued at $471,330,236 over the last quarter. 13.92% of the stock is owned by company insiders.
A number of hedge funds have recently modified their holdings of GOOG. Dodge & Cox bought a new stake in shares of Alphabet during the fourth quarter valued at about $2,387,502,000. Norges Bank bought a new stake in shares of Alphabet during the fourth quarter valued at about $2,128,163,000. Russell Investments Group Ltd. bought a new stake in shares of Alphabet during the fourth quarter valued at about $612,676,000. Asset Management One Co. Ltd. boosted its stake in shares of Alphabet by 696.2% in the fourth quarter. Asset Management One Co. Ltd. now owns 562,109 shares of the company’s stock valued at $434,371,000 after buying an additional 491,509 shares during the last quarter. Finally, Putnam Investments LLC boosted its stake in shares of Alphabet by 50.3% in the fourth quarter. Putnam Investments LLC now owns 1,094,771 shares of the company’s stock valued at $844,967,000 after buying an additional 366,456 shares during the last quarter. Institutional investors own 34.74% of the company’s stock.
Alphabet Inc is a holding company. The Company’s businesses include Google Inc (Google) and its Internet products, such as Access, Calico, CapitalG, GV, Nest, Verily, Waymo and X. The Company’s segments include Google and Other Bets. The Google segment includes its Internet products, such as Search, Ads, Commerce, Maps, YouTube, Google Cloud, Android, Chrome and Google Play, as well as its hardware initiatives.
Receive News & Ratings for Alphabet Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alphabet Inc and related companies with MarketBeat.com's FREE daily email newsletter.