Alphabet (NASDAQ:GOOG) was downgraded by investment analysts at ValuEngine from a “buy” rating to a “hold” rating in a research note issued on Thursday.

GOOG has been the topic of a number of other research reports. Oppenheimer reaffirmed a “buy” rating on shares of Alphabet in a report on Wednesday, July 25th. Cowen raised their price objective on Alphabet from $1,245.00 to $1,350.00 and gave the company an “outperform” rating in a report on Friday, July 13th. Morgan Stanley reissued a “buy” rating on shares of Alphabet in a report on Tuesday, July 24th. Barclays reissued a “buy” rating on shares of Alphabet in a report on Monday, August 20th. Finally, UBS Group reissued a “buy” rating on shares of Alphabet in a report on Tuesday, July 24th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-five have issued a buy rating to the stock. Alphabet currently has a consensus rating of “Buy” and an average price target of $1,311.71.

Shares of GOOG stock opened at $1,110.08 on Thursday. The firm has a market capitalization of $830.59 billion, a price-to-earnings ratio of 29.15 and a beta of 1.11. Alphabet has a fifty-two week low of $960.52 and a fifty-two week high of $1,273.89. The company has a debt-to-equity ratio of 0.02, a quick ratio of 4.13 and a current ratio of 4.15.

Alphabet (NASDAQ:GOOG) last issued its earnings results on Monday, July 23rd. The information services provider reported $11.75 earnings per share for the quarter, beating the Zacks’ consensus estimate of $9.66 by $2.09. The firm had revenue of $32.66 billion for the quarter, compared to the consensus estimate of $32.13 billion. Alphabet had a return on equity of 18.24% and a net margin of 13.16%. The company’s revenue was up 25.6% compared to the same quarter last year. During the same quarter last year, the business posted $5.01 EPS.

In related news, Director Ann Mather sold 24 shares of the firm’s stock in a transaction on Tuesday, September 4th. The stock was sold at an average price of $1,206.20, for a total transaction of $28,948.80. Following the completion of the transaction, the director now directly owns 1,898 shares of the company’s stock, valued at approximately $2,289,367.60. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director L John Doerr sold 10,262 shares of the firm’s stock in a transaction on Wednesday, August 15th. The stock was sold at an average price of $1,218.20, for a total value of $12,501,168.40. Following the transaction, the director now directly owns 3,485 shares of the company’s stock, valued at $4,245,427. The disclosure for this sale can be found here. In the last three months, insiders have sold 82,680 shares of company stock worth $99,664,675. 13.11% of the stock is currently owned by company insiders.

A number of large investors have recently made changes to their positions in GOOG. Smart Portfolios LLC bought a new position in Alphabet during the 1st quarter worth $103,000. Braun Bostich & Associates Inc. bought a new position in shares of Alphabet in the 1st quarter worth about $107,000. Litman Gregory Asset Management LLC bought a new position in shares of Alphabet in the 1st quarter worth about $113,000. JJJ Advisors Inc. bought a new position in shares of Alphabet in the 2nd quarter worth about $134,000. Finally, ELM Advisors LLC bought a new position in shares of Alphabet in the 3rd quarter worth about $138,000. 34.18% of the stock is owned by institutional investors and hedge funds.

Alphabet Company Profile

Alphabet Inc, through its subsidiaries, provides online advertising services in the United States and internationally. The company offers performance and brand advertising services. It operates through Google and Other Bets segments. The Google segment includes principal Internet products, such as Ads, Android, Chrome, Commerce, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure and newer efforts, including Virtual Reality.

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Analyst Recommendations for Alphabet (NASDAQ:GOOG)

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