Alphabet Inc. (GOOG) Given Outperform Rating at Robert W. Baird
Robert W. Baird reissued their outperform rating on shares of Alphabet Inc. (NASDAQ:GOOG) in a research report released on Wednesday morning. The brokerage currently has a $900.00 price objective on the stock.
Other equities research analysts have also recently issued research reports about the company. Credit Agricole SA restated a buy rating on shares of Alphabet in a research note on Friday, September 23rd. Moffett Nathanson restated a buy rating and issued a $925.00 price target on shares of Alphabet in a research note on Friday, September 23rd. Wedbush cut Alphabet from a neutral rating to an underperform rating and increased their price target for the company from $700.00 to $800.00 in a research note on Tuesday, September 27th. Vetr upgraded Alphabet from a hold rating to a buy rating and set a $822.37 price target on the stock in a research note on Thursday, August 18th. Finally, RBC Capital Markets restated an outperform rating and issued a $1,025.00 price target (up previously from $1,000.00) on shares of Alphabet in a research note on Friday, September 30th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, forty-five have given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of Buy and a consensus target price of $926.55.
Shares of Alphabet (NASDAQ:GOOG) traded up 0.20% during trading on Wednesday, hitting $777.99. 181,182 shares of the company traded hands. Alphabet has a one year low of $625.56 and a one year high of $789.87. The firm has a 50 day moving average price of $773.30 and a 200-day moving average price of $739.79. The stock has a market cap of $534.69 billion, a price-to-earnings ratio of 30.14 and a beta of 1.03.
Alphabet (NASDAQ:GOOG) last released its quarterly earnings results on Thursday, July 28th. The company reported $8.42 earnings per share for the quarter, topping analysts’ consensus estimates of $8.03 by $0.39. Alphabet had a return on equity of 14.74% and a net margin of 22.00%. The firm earned $21.50 billion during the quarter, compared to the consensus estimate of $20.74 billion. During the same quarter in the prior year, the firm posted $6.99 EPS. The business’s revenue was up 21.3% on a year-over-year basis. Analysts predict that Alphabet will post $34.30 EPS for the current year.
In other Alphabet news, VP James Grier Campbell sold 603 shares of Alphabet stock in a transaction on Wednesday, August 3rd. The stock was sold at an average price of $767.18, for a total value of $462,609.54. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP David C. Drummond sold 5,000 shares of Alphabet stock in a transaction on Tuesday, July 12th. The stock was sold at an average price of $725.52, for a total value of $3,627,600.00. Following the completion of the sale, the senior vice president now directly owns 13,248 shares of the company’s stock, valued at approximately $9,611,688.96. The disclosure for this sale can be found here. Corporate insiders own 13.92% of the company’s stock.
Several hedge funds have recently bought and sold shares of the company. 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 during the period. 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 during the period. 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 during the period. 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 during the period. 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 during the period. 34.39% of the stock is owned by institutional investors and hedge funds.
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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