Alphabet Inc. (GOOG) Given Buy Rating at Deutsche Bank AG
Deutsche Bank AG reaffirmed their buy rating on shares of Alphabet Inc. (NASDAQ:GOOG) in a research report report published on Wednesday morning. They currently have a $1,050.00 price target on the stock.
Other analysts also recently issued reports about the company. JPMorgan Chase & Co. set a $920.00 target price on Alphabet and gave the company a buy rating in a research note on Tuesday, July 12th. Pivotal Research reiterated a buy rating and set a $1,000.00 target price (up from $970.00) on shares of Alphabet in a research note on Tuesday, July 12th. Societe Generale set a $910.00 target price on Alphabet and gave the company a buy rating in a research note on Thursday, July 7th. Longbow Research started coverage on Alphabet in a research note on Wednesday, July 6th. They set a buy rating on the stock. Finally, Cantor Fitzgerald reissued a buy rating on shares of Alphabet in a report on Tuesday, July 5th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, forty-five have issued a buy rating and one has assigned a strong buy rating to the company. Alphabet presently has a consensus rating of Buy and an average target price of $926.55.
Alphabet (NASDAQ:GOOG) traded down 1.48% during trading on Wednesday, hitting $774.54. The stock had a trading volume of 577,694 shares. The company has a market cap of $532.32 billion, a price-to-earnings ratio of 30.01 and a beta of 1.03. Alphabet has a 52 week low of $641.73 and a 52 week high of $792.28. The company has a 50-day moving average of $774.16 and a 200 day moving average of $741.30.
Alphabet (NASDAQ:GOOG) last issued its earnings results on Thursday, July 28th. The company reported $8.42 EPS for the quarter, beating the 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 business had revenue of $21.50 billion for the quarter, compared to the consensus estimate of $20.74 billion. During the same period last year, the business posted $6.99 EPS. The company’s revenue was up 21.3% compared to the same quarter last year. On average, equities research analysts anticipate that Alphabet will post $34.14 EPS for the current year.
In other Alphabet news, Director Ann Mather sold 43 shares of Alphabet stock in a transaction dated Thursday, September 1st. The shares were sold at an average price of $773.49, for a total transaction of $33,260.07. Following the completion of the transaction, the director now owns 1,656 shares in the company, valued at $1,280,899.44. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Sundar Pichai sold 4,000 shares of Alphabet stock in a transaction dated 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 institutional investors have recently made changes to their positions in the company. First Manhattan Co. boosted its position in shares of Alphabet by 70.3% in the first quarter. First Manhattan Co. now owns 20,655 shares of the company’s stock worth $15,386,000 after buying an additional 8,523 shares during the last quarter. Douglas Lane & Associates LLC acquired a new position in shares of Alphabet during the first quarter worth about $49,532,000. PacWest Financial Management Inc boosted its position in shares of Alphabet by 7.2% in the first quarter. PacWest Financial Management Inc now owns 1,565 shares of the company’s stock worth $1,165,000 after buying an additional 105 shares during the last quarter. IMS Capital Management boosted its position in shares of Alphabet by 6.7% in the first quarter. IMS Capital Management now owns 1,657 shares of the company’s stock worth $1,234,000 after buying an additional 104 shares during the last quarter. Finally, Hills Bank & Trust Co. boosted its position in shares of Alphabet by 92.8% in the first quarter. Hills Bank & Trust Co. now owns 2,874 shares of the company’s stock worth $2,141,000 after buying an additional 1,383 shares during 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.
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