Alphabet Inc (GOOG) Rating Reiterated by BMO Capital Markets
BMO Capital Markets reiterated their market perform rating on shares of Alphabet Inc (NASDAQ:GOOG) in a research note published on Saturday, April 29th. They currently have a $970.00 price objective on the information services provider’s stock.
GOOG has been the topic of several other reports. Pivotal Research reissued a hold rating and set a $950.00 price objective on shares of Alphabet in a research report on Monday, March 27th. Credit Suisse Group AG upped their target price on shares of Alphabet from $1,100.00 to $1,150.00 and gave the company an outperform rating in a research note on Friday, April 28th. Needham & Company LLC increased their price objective 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 upgraded shares of Alphabet from a hold rating to a buy rating and set a $891.70 price objective on the stock in a research note on Monday, March 20th. Finally, Susquehanna Bancshares Inc reiterated a positive rating and issued a $1,000.00 price objective on shares of Alphabet in a research note on Tuesday, January 31st. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and forty-two have assigned a buy rating to the company. The stock presently has an average rating of Buy and a consensus price target of $968.80.
Alphabet (NASDAQ:GOOG) traded up 0.55% during midday trading on Friday, reaching $935.31. 640,073 shares of the company traded hands. The company has a 50 day moving average of $877.17 and a 200-day moving average of $820.39. Alphabet has a 12-month low of $663.28 and a 12-month high of $943.11. The stock has a market capitalization of $647.00 billion, a P/E ratio of 31.61 and a beta of 0.94. Alphabet also was the recipient of unusually large options trading activity on Wednesday. Stock traders acquired 1,932 put options on the company. This is an increase of 105% compared to the average volume of 942 put options.
Alphabet (NASDAQ:GOOG) last released its earnings results on Thursday, April 27th. The information services provider reported $7.73 earnings per share for the quarter, topping the Zacks’ consensus estimate of $7.38 by $0.35. The firm had revenue of $24.75 billion for the quarter, compared to the consensus estimate of $24.18 billion. Alphabet had a net margin of 21.58% and a return on equity of 14.85%. The company’s revenue was up 22.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $7.50 EPS. Equities analysts anticipate that Alphabet will post $33.88 EPS for the current fiscal year.
In other news, SVP David C. Drummond sold 2,000 shares of Alphabet stock in a transaction that occurred on Friday, May 12th. The shares were sold at an average price of $945.65, for a total value of $1,891,300.00. Following the completion of the transaction, the senior vice president now owns 3,800 shares in the company, valued at $3,593,470. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Sundar Pichai sold 4,000 shares of Alphabet stock in a transaction on Wednesday, February 22nd. The stock was sold at an average price of $830.47, for a total transaction of $3,321,880.00. Following the sale, the chief executive officer now directly owns 2,270 shares of the company’s stock, valued at approximately $1,885,166.90. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 50,133 shares of company stock valued at $44,422,427. Corporate insiders own 13.92% of the company’s stock.
A number of large investors have recently bought and sold shares of the stock. Cambridge Advisors Inc. boosted its stake in Alphabet by 0.4% in the first quarter. Cambridge Advisors Inc. now owns 272 shares of the information services provider’s stock valued at $226,000 after buying an additional 1 shares in the last quarter. Mark Sheptoff Financial Planning LLC boosted its stake in shares of Alphabet by 0.7% in the first quarter. Mark Sheptoff Financial Planning LLC now owns 136 shares of the information services provider’s stock valued at $112,000 after buying an additional 1 shares during the period. Howland Capital Management LLC boosted its stake in shares of Alphabet by 0.3% in the first quarter. Howland Capital Management LLC now owns 637 shares of the information services provider’s stock valued at $528,000 after buying an additional 2 shares during the period. Trust Co. of Virginia VA boosted its stake in shares of Alphabet by 0.7% in the first quarter. Trust Co. of Virginia VA now owns 423 shares of the information services provider’s stock valued at $351,000 after buying an additional 3 shares during the period. Finally, Modera Wealth Management LLC boosted its stake in shares of Alphabet by 0.5% in the first quarter. Modera Wealth Management LLC now owns 575 shares of the information services provider’s stock valued at $477,000 after buying an additional 3 shares during the period. 34.74% of the stock is currently 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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