Alphabet (NASDAQ:GOOG) Price Target Increased to $1,475.00 by Analysts at Deutsche Bank

Alphabet (NASDAQ:GOOG) had its price objective increased by Deutsche Bank from $1,400.00 to $1,475.00 in a report released on Thursday, The Fly reports. They currently have a buy rating on the information services provider’s stock.

A number of other analysts have also recently weighed in on the stock. Cowen boosted their price objective on shares of Alphabet from $1,400.00 to $1,500.00 and gave the stock an outperform rating in a research note on Friday, July 26th. UBS Group restated a buy rating on shares of Alphabet in a research note on Friday, July 26th. Pivotal Research assumed coverage on shares of Alphabet in a research note on Wednesday, May 29th. They issued a hold rating for the company. Benchmark reiterated a buy rating and set a $1,360.00 target price (up from $1,315.00) on shares of Alphabet in a research note on Friday, July 26th. Finally, Goldman Sachs Group reiterated a buy rating on shares of Alphabet in a research note on Tuesday, July 23rd. Three analysts have rated the stock with a hold rating and twenty-eight have issued a buy rating to the stock. Alphabet has a consensus rating of Buy and a consensus price target of $1,378.93.

Shares of Alphabet stock traded up $9.43 on Thursday, reaching $1,176.69. The stock had a trading volume of 38,477 shares, compared to its average volume of 1,723,088. The business’s 50-day moving average price is $1,156.92 and its two-hundred day moving average price is $1,154.17. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.96 and a current ratio of 3.98. Alphabet has a fifty-two week low of $970.11 and a fifty-two week high of $1,289.27. The stock has a market cap of $815.26 billion, a P/E ratio of 24.76, a price-to-earnings-growth ratio of 1.31 and a beta of 0.96.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings data on Thursday, July 25th. The information services provider reported $14.21 earnings per share for the quarter, topping the Zacks’ consensus estimate of $11.49 by $2.72. Alphabet had a net margin of 23.43% and a return on equity of 20.15%. The business had revenue of $38.94 billion during the quarter, compared to analysts’ expectations of $38.21 billion. During the same period in the previous year, the company earned $11.75 earnings per share. Alphabet’s revenue for the quarter was up 19.3% on a year-over-year basis. As a group, equities analysts forecast that Alphabet will post 52.1 earnings per share for the current fiscal year.

In other news, CAO Amie Thuener O’toole sold 69 shares of the company’s stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $1,042.90, for a total value of $71,960.10. Following the sale, the chief accounting officer now owns 388 shares of the company’s stock, valued at approximately $404,645.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Ann Mather sold 39 shares of the company’s stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $1,100.00, for a total transaction of $42,900.00. Following the completion of the sale, the director now directly owns 1,797 shares in the company, valued at approximately $1,976,700. The disclosure for this sale can be found here. Insiders sold a total of 2,123 shares of company stock worth $2,553,758 in the last three months. Insiders own 12.99% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the company. 1 North Wealth Services LLC bought a new stake in shares of Alphabet in the 4th quarter worth about $34,000. TD Capital Management LLC grew its holdings in Alphabet by 38.5% during the 4th quarter. TD Capital Management LLC now owns 36 shares of the information services provider’s stock worth $37,000 after acquiring an additional 10 shares during the last quarter. Truehand Inc bought a new stake in Alphabet during the 4th quarter worth about $38,000. HMS Capital Management LLC bought a new stake in Alphabet during the 2nd quarter worth about $38,000. Finally, Oregon Public Employees Retirement Fund grew its holdings in Alphabet by 102,010.9% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 56,224,303 shares of the information services provider’s stock worth $54,000 after acquiring an additional 56,169,241 shares during the last quarter. 33.98% of the stock is currently owned by institutional investors and hedge funds.

About Alphabet

Alphabet Inc provides online advertising services in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It offers performance and brand advertising services. The company operates through Google and Other Bets segments. The Google segment offers products, such as Ads, Android, Chrome, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure.

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