Alphabet Inc. (GOOG) Given a $900.00 Price Target at Needham & Company LLC
Other equities research analysts also recently issued reports about the stock. Cantor Fitzgerald reaffirmed a buy rating and issued a $1,000.00 price target on shares of Alphabet in a research note on Wednesday. Credit Suisse Group AG reissued an outperform rating and set a $940.00 target price (up from $920.00) on shares of Alphabet in a research report on Friday, July 29th. Evercore ISI reissued a buy rating and set a $830.00 target price (down from $950.00) on shares of Alphabet in a research report on Thursday, June 23rd. Atlantic Securities set a $910.00 target price on shares of Alphabet and gave the stock a buy rating in a research report on Friday, July 29th. Finally, Vetr raised shares of Alphabet from a buy rating to a strong-buy rating and set a $760.24 target price for the company in a research report on Monday, June 27th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, forty-five have given a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of Buy and an average price target of $926.55.
Shares of Alphabet (NASDAQ:GOOG) traded up 0.47% on Wednesday, hitting $780.14. The stock had a trading volume of 415,004 shares. Alphabet has a 12-month low of $625.56 and a 12-month high of $789.87. The firm has a market capitalization of $536.17 billion, a P/E ratio of 30.23 and a beta of 1.03. The company has a 50 day moving average of $773.30 and a 200-day moving average of $739.79.
Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Thursday, July 28th. The company reported $8.42 earnings per share for the quarter, beating the consensus estimate of $8.03 by $0.39. Alphabet had a net margin of 22.00% and a return on equity of 14.74%. The firm earned $21.50 billion during the quarter, compared to the consensus estimate of $20.74 billion. During the same period in the previous year, the firm posted $6.99 earnings per share. The business’s revenue was up 21.3% compared to the same quarter last year. Equities analysts predict that Alphabet will post $34.30 EPS for the current fiscal year.
In other news, VP James Grier Campbell sold 603 shares of Alphabet stock in a transaction that occurred 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 is available through this link. Also, insider Sergey Brin sold 66,664 shares of Alphabet stock in a transaction that occurred on Tuesday, August 23rd. The stock was sold at an average price of $785.10, for a total transaction of $52,337,906.40. Following the completion of the sale, the insider now owns 28,200 shares of the company’s stock, valued at $22,139,820. The disclosure for this sale can be found here. Company insiders own 13.92% of the company’s stock.
Several hedge funds have recently made changes to their positions in GOOG. Liberty Capital Management Inc. bought a new stake in shares of Alphabet during the third quarter worth approximately $1,980,000. Copper Rock Capital Partners LLC raised its stake in shares of Alphabet by 10.9% in the third quarter. Copper Rock Capital Partners LLC now owns 776 shares of the company’s stock worth $601,000 after buying an additional 76 shares in the last quarter. Trust Asset Management LLC bought a new stake in shares of Alphabet during the third quarter worth approximately $18,344,000. Stillwater Investment Management LLC raised its stake in shares of Alphabet by 1.4% in the third quarter. Stillwater Investment Management LLC now owns 1,424 shares of the company’s stock worth $1,107,000 after buying an additional 20 shares in the last quarter. Finally, Private Asset Management Inc. raised its stake in shares of Alphabet by 1.1% in the third quarter. Private Asset Management Inc. now owns 7,998 shares of the company’s stock worth $6,217,000 after buying an additional 85 shares in the last quarter. Hedge funds and other institutional investors own 34.39% of the company’s stock.
Alphabet Company Profile
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.
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