Morningstar restated their buy rating on shares of Alphabet (NASDAQ:GOOG) in a research note issued to investors on Thursday morning.

Several other brokerages have also recently commented on GOOG. BidaskClub upgraded Alphabet from a buy rating to a strong-buy rating in a report on Thursday, July 26th. Raymond James restated an outperform rating and set a $1,405.00 target price (up previously from $1,240.00) on shares of Alphabet in a report on Tuesday, July 24th. Royal Bank of Canada increased their target price on Alphabet from $1,285.00 to $1,400.00 and gave the stock an outperform rating in a report on Tuesday, July 24th. Nomura restated a buy rating on shares of Alphabet in a report on Tuesday, July 24th. Finally, Stifel Nicolaus restated a buy rating on shares of Alphabet in a report on Tuesday, July 24th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-nine have issued a buy rating to the stock. The company currently has an average rating of Buy and a consensus target price of $1,301.81.

Shares of GOOG stock traded down $24.10 during trading hours on Thursday, hitting $1,071.47. 4,185,192 shares of the company’s stock were exchanged, compared to its average volume of 1,803,303. The company has a debt-to-equity ratio of 0.02, a quick ratio of 4.13 and a current ratio of 4.15. The stock has a market capitalization of $745.69 billion, a PE ratio of 24.11 and a beta of 1.11. Alphabet has a 52 week low of $980.64 and a 52 week high of $1,273.89.

Alphabet (NASDAQ:GOOG) last announced its earnings results on Thursday, October 25th. The information services provider reported $13.06 EPS for the quarter, topping the consensus estimate of $10.41 by $2.65. The company had revenue of $27.16 billion for the quarter. Alphabet had a return on equity of 19.75% and a net margin of 14.45%.

In other news, Director Ann Mather sold 25 shares of the company’s stock in a transaction on Wednesday, August 1st. The stock was sold at an average price of $1,228.64, for a total transaction of $30,716.00. Following the transaction, the director now owns 1,884 shares of the company’s stock, valued at $2,314,757.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Amie Thuener O’toole sold 80 shares of the company’s stock in a transaction on Thursday, August 2nd. The shares were sold at an average price of $1,206.20, for a total value of $96,496.00. Following the transaction, the vice president now directly owns 388 shares in the company, valued at approximately $468,005.60. The disclosure for this sale can be found here. Insiders have sold 87,646 shares of company stock worth $104,260,256 in the last ninety days. 13.11% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently modified their holdings of the company. Summit Trail Advisors LLC lifted its stake in Alphabet by 132,719.3% in the first quarter. Summit Trail Advisors LLC now owns 18,679,702 shares of the information services provider’s stock valued at $18,680,000 after buying an additional 18,665,638 shares during the period. Magellan Asset Management Ltd lifted its stake in Alphabet by 684.2% in the first quarter. Magellan Asset Management Ltd now owns 2,114,849 shares of the information services provider’s stock valued at $2,182,080,000 after buying an additional 1,845,160 shares during the period. Private Advisor Group LLC lifted its stake in Alphabet by 18,323.9% in the second quarter. Private Advisor Group LLC now owns 954,357 shares of the information services provider’s stock valued at $1,064,798,000 after buying an additional 949,177 shares during the period. Mainstay Capital Management LLC ADV lifted its stake in Alphabet by 79,743.5% in the second quarter. Mainstay Capital Management LLC ADV now owns 796,838 shares of the information services provider’s stock valued at $1,009,000 after buying an additional 795,840 shares during the period. Finally, Cornerstone Wealth Management LLC lifted its stake in Alphabet by 114,793.0% in the second quarter. Cornerstone Wealth Management LLC now owns 723,826 shares of the information services provider’s stock valued at $642,000 after buying an additional 723,196 shares during the period. 34.19% of the stock is currently owned by institutional investors and hedge funds.

About Alphabet

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.

Recommended Story: Should I follow buy, hold and sell recommendations?

Analyst Recommendations for Alphabet (NASDAQ:GOOG)

Receive News & Ratings for Alphabet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alphabet and related companies with MarketBeat.com's FREE daily email newsletter.