Alphabet Inc. (GOOG) Receives Outperform Rating from Macquarie
Macquarie reiterated their outperform rating on shares of Alphabet Inc. (NASDAQ:GOOG) in a research note issued to investors on Wednesday morning. They currently have a $975.00 price objective on the stock.
A number of other research firms have also recently weighed in on GOOG. Goldman Sachs Group Inc. set a $810.00 price objective on shares of Alphabet and gave the stock a buy rating in a research report on Wednesday, July 20th. Vetr raised shares of Alphabet from a buy rating to a strong-buy rating and set a $778.71 price objective for the company in a research report on Monday, June 20th. Longbow Research assumed coverage on shares of Alphabet in a research report on Wednesday, July 6th. They set a buy rating for the company. JPMorgan Chase & Co. reaffirmed a buy rating on shares of Alphabet in a research report on Tuesday, September 27th. Finally, Societe Generale set a $910.00 price objective on shares of Alphabet and gave the stock a buy rating in a research report on Thursday, July 7th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, forty-five have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of Buy and a consensus price target of $926.55.
Alphabet (NASDAQ:GOOG) opened at 779.17 on Wednesday. The stock has a market cap of $535.50 billion, a price-to-earnings ratio of 30.19 and a beta of 1.03. Alphabet has a 12 month low of $625.56 and a 12 month high of $789.87. The firm’s 50 day moving average price is $773.30 and its 200 day moving average price is $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 business earned $21.50 billion during the quarter, compared to analysts’ expectations of $20.74 billion. During the same quarter in the prior year, the company posted $6.99 EPS. The business’s revenue for the quarter was up 21.3% on a year-over-year basis. On average, equities research analysts predict that Alphabet will post $34.30 EPS for the current fiscal year.
In other news, CEO Sundar Pichai sold 4,000 shares of the firm’s stock in a transaction on Wednesday, October 5th. The shares were sold at an average price of $781.81, for a total value of $3,127,240.00. Following the sale, the chief executive officer now owns 3,231 shares in the company, valued at $2,526,028.11. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Sergey Brin sold 33,332 shares of the firm’s stock in a transaction on Thursday, September 29th. The stock was sold at an average price of $748.75, for a total transaction of $24,957,335.00. Following the completion of the sale, the insider now owns 16,666 shares in the company, valued at approximately $12,478,667.50. The disclosure for this sale can be found here. 13.92% of the stock is currently owned by insiders.
Several large investors have recently made changes to their positions in GOOG. Sigma Planning Corp increased its stake in shares of Alphabet by 4.2% in the first quarter. Sigma Planning Corp now owns 2,394 shares of the company’s stock valued at $1,784,000 after buying an additional 96 shares during the last quarter. QUANTRES ASSET MANAGEMENT Ltd bought a new stake in shares of Alphabet during the first quarter valued at about $298,000. Handelsinvest Investeringsforvaltning increased its stake in shares of Alphabet by 6.4% in the first quarter. Handelsinvest Investeringsforvaltning now owns 6,691 shares of the company’s stock valued at $4,984,000 after buying an additional 400 shares during the last quarter. Narwhal Capital Management increased its stake in shares of Alphabet by 2.3% in the first quarter. Narwhal Capital Management now owns 11,242 shares of the company’s stock valued at $8,375,000 after buying an additional 250 shares during the last quarter. Finally, Boston Advisors LLC increased its stake in shares of Alphabet by 2.3% in the first quarter. Boston Advisors LLC now owns 2,661 shares of the company’s stock valued at $1,982,000 after buying an additional 60 shares during the last quarter. Institutional investors and hedge funds 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.
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