Brokerages Set Alphabet Inc. (NASDAQ:GOOG) Price Target at $920.71
Shares of Alphabet Inc. (NASDAQ:GOOG) have received an average recommendation of “Buy” from the forty-eight ratings firms that are presently covering the company. One equities research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, forty-five have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price target among brokers that have covered the stock in the last year is $922.64.
Several brokerages recently commented on GOOG. Citigroup Inc. reiterated a “buy” rating and set a $900.00 price target on shares of Alphabet in a report on Saturday, June 18th. Stifel Nicolaus reiterated a “buy” rating and set a $925.00 price target (up from $888.00) on shares of Alphabet in a report on Friday, July 29th. Longbow Research began coverage on shares of Alphabet in a report on Wednesday, July 6th. They set a “buy” rating on the stock. Macquarie reiterated an “outperform” rating and set a $975.00 price target on shares of Alphabet in a report on Friday, July 29th. Finally, Goldman Sachs Group Inc. set a $810.00 price target on shares of Alphabet and gave the company a “buy” rating in a report on Wednesday, July 20th.
In other Alphabet news, insider Sergey Brin sold 66,664 shares of the business’s stock in a transaction that occurred on Tuesday, August 23rd. The shares were sold at an average price of $785.10, for a total transaction of $52,337,906.40. Following the completion of the transaction, the insider now owns 28,200 shares in the company, valued at approximately $22,139,820. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Sundar Pichai sold 4,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 20th. The stock was sold at an average price of $739.21, for a total transaction of $2,956,840.00. Following the transaction, the chief executive officer now owns 3,297 shares of the company’s stock, valued at approximately $2,437,175.37. The disclosure for this sale can be found here. 13.92% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Mesirow Financial Investment Management Equity Management purchased a new position in Alphabet during the second quarter valued at approximately $121,000. Whitnell & Co. boosted its position in Alphabet by 20.6% in the second quarter. Whitnell & Co. now owns 187 shares of the company’s stock valued at $129,000 after buying an additional 32 shares during the period. D. Scott Neal Inc. boosted its position in Alphabet by 2,000.0% in the second quarter. D. Scott Neal Inc. now owns 210 shares of the company’s stock valued at $145,000 after buying an additional 200 shares during the period. Pathstone Family Office LLC boosted its position in Alphabet by 7.2% in the second quarter. Pathstone Family Office LLC now owns 222 shares of the company’s stock valued at $154,000 after buying an additional 15 shares during the period. Finally, Cacti Asset Management LLC purchased a new position in Alphabet during the second quarter valued at approximately $159,000. Institutional investors own 34.39% of the company’s stock.
Alphabet (NASDAQ:GOOG) opened at 776.86 on Tuesday. The stock has a market capitalization of $533.91 billion, a price-to-earnings ratio of 30.10 and a beta of 1.03. The stock’s 50 day moving average is $773.21 and its 200 day moving average is $740.06. Alphabet has a 12-month low of $635.32 and a 12-month high of $789.87.
Alphabet (NASDAQ:GOOG) last announced its earnings results on Thursday, July 28th. The company reported $8.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.03 by $0.39. The firm had revenue of $21.50 billion for the quarter, compared to analysts’ expectations of $20.74 billion. Alphabet had a net margin of 22.00% and a return on equity of 14.74%. The business’s revenue was up 21.3% compared to the same quarter last year. During the same period in the prior year, the company earned $6.99 EPS. Equities analysts predict that Alphabet will post $34.14 earnings per share for the current fiscal year.
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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