Alphabet Inc (GOOG) Rating Reiterated by Morgan Stanley
Morgan Stanley reaffirmed their overweight rating on shares of Alphabet Inc (NASDAQ:GOOG) in a research note issued to investors on Saturday morning. The brokerage currently has a $1,000.00 price objective on the information services provider’s stock.
GOOG has been the topic of a number of other reports. Needham & Company LLC upped their price target on shares of Alphabet from $925.00 to $935.00 and gave the stock a buy rating in a research note on Friday, January 27th. Vetr raised shares of Alphabet from a hold rating to a buy rating and set a $891.70 price target on the stock in a research note on Monday, March 20th. Susquehanna Bancshares Inc reaffirmed a positive rating and issued a $1,000.00 price target on shares of Alphabet in a research note on Tuesday, January 31st. Royal Bank of Canada reaffirmed an outperform rating on shares of Alphabet in a research note on Monday, March 6th. Finally, Societe Generale reissued a buy rating on shares of Alphabet in a research report on Thursday, February 2nd. One research analyst has rated the stock with a sell rating, five have given a hold rating and forty-two have issued a buy rating to the company’s stock. The company presently has a consensus rating of Buy and an average target price of $956.36.
Shares of Alphabet (NASDAQ:GOOG) traded up 0.18% on Friday, hitting $843.19. The stock had a trading volume of 1,323,569 shares. Alphabet has a one year low of $663.28 and a one year high of $853.50. The company has a market cap of $583.00 billion, a price-to-earnings ratio of 30.25 and a beta of 0.94. The firm’s 50-day moving average is $833.03 and its 200-day moving average is $802.56.
Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Thursday, January 26th. The information services provider reported $9.36 earnings per share for the quarter, missing the Zacks’ consensus estimate of $9.67 by $0.31. Alphabet had a return on equity of 14.85% and a net margin of 21.58%. The company earned $26.04 billion during the quarter, compared to analyst estimates of $25.18 billion. During the same period last year, the company posted $8.67 earnings per share. The company’s revenue was up 22.2% compared to the same quarter last year. On average, analysts expect that Alphabet will post $33.26 EPS for the current fiscal year.
In related news, CEO Lawrence Page sold 33,340 shares of the stock in a transaction that occurred on Friday, February 3rd. The shares were sold at an average price of $812.80, for a total value of $27,098,752.00. Following the completion of the transaction, the chief executive officer now owns 30,670 shares of the company’s stock, valued at approximately $24,928,576. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP David C. Drummond sold 2,000 shares of the stock in a transaction that occurred on Monday, February 13th. The shares were sold at an average price of $826.85, for a total transaction of $1,653,700.00. Following the completion of the transaction, the senior vice president now directly owns 6,800 shares of the company’s stock, valued at approximately $5,622,580. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 281,688 shares of company stock valued at $229,255,327. 13.92% of the stock is currently owned by insiders.
Institutional investors have recently modified their holdings of the stock. Jacobs & Co. CA increased its position in shares of Alphabet by 0.8% in the third quarter. Jacobs & Co. CA now owns 9,544 shares of the information services provider’s stock valued at $7,418,000 after buying an additional 78 shares during the last quarter. Cobiz Investment Management LLC bought a new position in shares of Alphabet during the third quarter valued at approximately $226,000. Oregon Public Employees Retirement Fund increased its position in shares of Alphabet by 36.4% in the third quarter. Oregon Public Employees Retirement Fund now owns 75,412 shares of the information services provider’s stock valued at $58,617,000 after buying an additional 20,110 shares during the last quarter. Gradient Investments LLC increased its position in shares of Alphabet by 1.5% in the third quarter. Gradient Investments LLC now owns 541 shares of the information services provider’s stock valued at $421,000 after buying an additional 8 shares during the last quarter. Finally, Hills Bank & Trust Co. boosted its position in shares of Alphabet by 5.3% in the third quarter. Hills Bank & Trust Co. now owns 4,967 shares of the information services provider’s stock valued at $3,860,000 after buying an additional 252 shares during the period. 34.74% of the stock is owned by institutional investors and hedge funds.
Alphabet Inc is a holding company. The Company’s businesses include Google Inc (Google) and its Internet products, such as Access, Calico, CapitalG, GV, Nest, Verily, Waymo and X. The Company’s segments include Google and Other Bets. The Google segment includes its Internet products, such as Search, Ads, Commerce, Maps, YouTube, Google Cloud, Android, Chrome and Google Play, as well as its hardware initiatives.
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