Analysts Set Alphabet Inc. (GOOG) Target Price at $1,040.20
Alphabet Inc. (NASDAQ:GOOG) has received a consensus rating of “Buy” from the forty-eight research firms that are presently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and forty have given a buy rating to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $1,040.20.
GOOG has been the subject of a number of research analyst reports. UBS AG reaffirmed a “buy” rating and set a $1,050.00 price objective (up from $980.00) on shares of Alphabet in a research report on Friday, April 28th. Piper Jaffray Companies reaffirmed an “overweight” rating and set a $1,050.00 price objective on shares of Alphabet in a research report on Wednesday, August 9th. MKM Partners reaffirmed a “buy” rating and set a $1,210.00 price objective (up from $1,170.00) on shares of Alphabet in a research report on Thursday, August 10th. BidaskClub cut shares of Alphabet from a “buy” rating to a “hold” rating in a research report on Thursday. Finally, Moffett Nathanson reaffirmed a “buy” rating on shares of Alphabet in a research report on Friday, June 9th.
Alphabet (NASDAQ GOOG) traded down 0.3324% during trading on Friday, reaching $907.6433. 393,580 shares of the company traded hands. The company’s 50-day moving average is $933.52 and its 200 day moving average is $892.51. The company has a market cap of $628.89 billion, a PE ratio of 32.8940 and a beta of 0.94. Alphabet has a 12 month low of $727.54 and a 12 month high of $988.25.
Alphabet (NASDAQ:GOOG) last issued its earnings results on Monday, July 24th. The information services provider reported $5.01 earnings per share for the quarter, topping the Zacks’ consensus estimate of $4.43 by $0.58. The business had revenue of $26.01 billion for the quarter, compared to the consensus estimate of $25.61 billion. Alphabet had a net margin of 19.49% and a return on equity of 13.66%. The firm’s revenue for the quarter was up 21.0% on a year-over-year basis. During the same period in the previous year, the company earned $8.42 earnings per share. On average, analysts anticipate that Alphabet will post $30.60 earnings per share for the current year.
In related news, CEO Sundar Pichai sold 4,000 shares of the stock in a transaction on Wednesday, June 7th. The stock was sold at an average price of $981.45, for a total value of $3,925,800.00. Following the completion of the sale, the chief executive officer now directly owns 2,058 shares of the company’s stock, valued at approximately $2,019,824.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP James Grier Campbell sold 183 shares of the stock in a transaction on Thursday, June 1st. The shares were sold at an average price of $968.95, for a total value of $177,317.85. The disclosure for this sale can be found here. Insiders sold a total of 47,169 shares of company stock valued at $44,206,482 over the last three months. 13.92% of the stock is currently owned by insiders.
Several large investors have recently made changes to their positions in the stock. Wall Street Access Asset Management LLC raised its stake in shares of Alphabet by 16.7% in the fourth quarter. Wall Street Access Asset Management LLC now owns 1,228 shares of the information services provider’s stock valued at $957,000 after buying an additional 176 shares in the last quarter. IFM Investors Pty Ltd acquired a new stake in shares of Alphabet during the fourth quarter valued at about $3,007,000. Pacific Center for Financial Services acquired a new stake in shares of Alphabet during the fourth quarter valued at about $142,000. Advantage Investment Management LLC acquired a new stake in shares of Alphabet during the fourth quarter valued at about $611,000. Finally, PagnatoKarp Partners LLC acquired a new stake in shares of Alphabet during the fourth quarter valued at about $393,000. 34.57% of the stock is owned by hedge funds and other institutional investors.
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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