Alphabet Inc (NASDAQ:GOOG) Given Average Rating of “Buy” by Analysts

Alphabet Inc (NASDAQ:GOOG) has been given an average rating of “Buy” by the thirty-three ratings firms that are presently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell rating, two have given a hold rating, twenty-seven have issued a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $1,584.75.

A number of brokerages recently issued reports on GOOG. Jefferies Financial Group reissued a “buy” rating on shares of Alphabet in a research report on Tuesday, April 28th. Zacks Investment Research lowered Alphabet from a “hold” rating to a “sell” rating in a research report on Thursday, April 30th. BidaskClub raised Alphabet from a “hold” rating to a “buy” rating in a research report on Thursday, June 25th. Pivotal Research lifted their target price on Alphabet from $1,425.00 to $1,575.00 and gave the company a “buy” rating in a research report on Wednesday, April 29th. Finally, Oppenheimer dropped their target price on Alphabet from $1,465.00 to $1,445.00 and set an “outperform” rating on the stock in a research report on Friday, April 17th.

Shares of NASDAQ:GOOG traded up $26.66 during trading on Friday, hitting $1,464.70. 1,847,930 shares of the company’s stock traded hands, compared to its average volume of 1,842,708. Alphabet has a 52 week low of $1,013.54 and a 52 week high of $1,532.11. The company has a current ratio of 3.66, a quick ratio of 3.64 and a debt-to-equity ratio of 0.08. The company has a market cap of $981.63 billion, a price-to-earnings ratio of 29.56, a price-to-earnings-growth ratio of 2.17 and a beta of 1.05. The company has a 50-day moving average price of $1,415.59 and a 200-day moving average price of $1,355.03.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Tuesday, April 28th. The information services provider reported $9.87 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $11.27 by ($1.40). Alphabet had a net margin of 20.71% and a return on equity of 17.43%. The business had revenue of $41.16 billion for the quarter, compared to the consensus estimate of $40.29 billion. During the same quarter last year, the firm earned $9.50 EPS. The company’s revenue for the quarter was up 13.3% on a year-over-year basis. On average, analysts predict that Alphabet will post 41.23 earnings per share for the current fiscal year.

In other news, Director Ann Mather sold 30 shares of Alphabet stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $1,328.50, for a total transaction of $39,855.00. Following the completion of the transaction, the director now directly owns 1,119 shares in the company, valued at approximately $1,486,591.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John L. Hennessy sold 45 shares of Alphabet stock in a transaction that occurred on Monday, April 6th. The stock was sold at an average price of $1,151.24, for a total value of $51,805.80. Following the transaction, the director now owns 32 shares of the company’s stock, valued at $36,839.68. The disclosure for this sale can be found here. Insiders have sold a total of 227 shares of company stock valued at $304,957 over the last quarter. 12.99% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in GOOG. CapWealth Advisors LLC boosted its stake in Alphabet by 1.0% in the 4th quarter. CapWealth Advisors LLC now owns 3,881 shares of the information services provider’s stock valued at $5,189,000 after purchasing an additional 39 shares during the period. Quantitative Systematic Strategies LLC bought a new stake in Alphabet in the 4th quarter valued at $349,000. Atlas Private Wealth Management bought a new stake in shares of Alphabet during the 4th quarter valued at $120,000. Cascadia Advisory Services LLC bought a new stake in shares of Alphabet during the 4th quarter valued at $366,000. Finally, Indie Asset Partners LLC bought a new stake in shares of Alphabet during the 4th quarter valued at $1,062,000. Institutional investors and hedge funds own 33.00% of the company’s stock.

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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Analyst Recommendations for Alphabet (NASDAQ:GOOG)

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