Cantor Fitzgerald Reaffirms “Buy” Rating for Alphabet Inc. (GOOG)
Alphabet Inc. (NASDAQ:GOOG)‘s stock had its “buy” rating reiterated by equities researchers at Cantor Fitzgerald in a research note issued to investors on Wednesday. They currently have a $1,000.00 price target on the stock. Cantor Fitzgerald’s target price points to a potential upside of 28.79% from the company’s previous close.
Other equities analysts have also issued reports about the company. Societe Generale set a $910.00 target price on Alphabet and gave the company a “buy” rating in a report on Thursday, July 7th. Longbow Research started coverage on Alphabet in a report on Wednesday, July 6th. They set a “buy” rating on the stock. Axiom Securities restated a “buy” rating and set a $970.00 target price (down from $1,001.00) on shares of Alphabet in a report on Wednesday, June 29th. Goldman Sachs Group Inc. restated a “buy” rating and set a $810.00 target price (down from $850.00) on shares of Alphabet in a report on Wednesday, June 29th. Finally, Vetr lowered Alphabet from a “strong-buy” rating to a “buy” rating and set a $770.61 target price on the stock. in a report on Tuesday, June 21st. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, forty-five have assigned a buy rating and one has assigned a strong buy rating to the company. Alphabet has a consensus rating of “Buy” and a consensus price target of $926.55.
Alphabet (NASDAQ:GOOG) opened at 776.43 on Wednesday. The firm’s 50-day moving average price is $773.32 and its 200-day moving average price is $739.53. Alphabet has a 12-month low of $625.56 and a 12-month high of $789.87. The company has a market cap of $533.62 billion, a P/E ratio of 30.08 and a beta of 1.03.
Alphabet (NASDAQ:GOOG) last posted its earnings results on Thursday, July 28th. The company reported $8.42 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $8.03 by $0.39. Alphabet had a return on equity of 14.74% and a net margin of 22.00%. The company had revenue of $21.50 billion for the quarter, compared to analyst estimates of $20.74 billion. During the same period last year, the company earned $6.99 earnings per share. The business’s revenue was up 21.3% compared to the same quarter last year. Analysts expect that Alphabet will post $34.30 EPS for the current year.
In related news, VP James Grier Campbell sold 603 shares of the company’s stock in a transaction on Wednesday, August 3rd. The shares were sold at an average price of $767.18, for a total value of $462,609.54. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Lawrence Page sold 33,332 shares of the company’s stock in a transaction on Tuesday, July 26th. The stock was sold at an average price of $716.51, for a total transaction of $23,882,711.32. Following the completion of the transaction, the chief executive officer now directly owns 30,666 shares of the company’s stock, valued at $21,972,495.66. The disclosure for this sale can be found here. 13.92% of the stock is currently owned by corporate insiders.
Several institutional investors have recently bought and sold shares of GOOG. Vanguard Group Inc. increased its position in Alphabet by 1.2% in the second quarter. Vanguard Group Inc. now owns 18,237,076 shares of the company’s stock worth $12,621,879,000 after buying an additional 221,141 shares in the last quarter. BlackRock Institutional Trust Company N.A. increased its position in Alphabet by 0.8% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 7,758,701 shares of the company’s stock worth $5,369,797,000 after buying an additional 64,853 shares in the last quarter. BlackRock Fund Advisors increased its position in Alphabet by 1.3% in the second quarter. BlackRock Fund Advisors now owns 3,765,984 shares of the company’s stock worth $2,606,438,000 after buying an additional 47,436 shares in the last quarter. Janus Capital Management LLC increased its position in Alphabet by 1.4% in the second quarter. Janus Capital Management LLC now owns 3,527,197 shares of the company’s stock worth $2,441,123,000 after buying an additional 49,943 shares in the last quarter. Finally, Capital World Investors increased its position in Alphabet by 5.5% in the second quarter. Capital World Investors now owns 3,394,165 shares of the company’s stock worth $2,349,102,000 after buying an additional 176,954 shares in the last quarter. Institutional investors own 34.39% of the company’s stock.
Alphabet Inc is a holding company. The Company holds interests in Google Inc (Google). The Company’s segments include Google and Other Bets. Google segment includes Internet products, such as Search, Ads, Commerce, Maps, YouTube, Apps, Cloud, Android, Chrome, Google Play, and hardware products, including Chromecast, Chromebooks and Nexus, which are sold by the Company.
Receive News & Stock 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 stocks with our FREE daily email newsletter.