Alphabet Inc. (GOOG) Given Overweight Rating at UBS AG
Several other equities analysts have also recently commented on GOOG. Vetr cut Alphabet from a strong-buy rating to a buy rating and set a $1,031.46 target price for the company. in a research report on Tuesday. Piper Jaffray Companies restated an overweight rating and set a $1,050.00 target price on shares of Alphabet in a research report on Wednesday, August 9th. MKM Partners restated a buy rating and set a $1,210.00 target price (up from $1,170.00) on shares of Alphabet in a research report on Thursday, August 10th. BidaskClub cut Alphabet from a buy rating to a hold rating in a research report on Thursday, August 17th. Finally, Moffett Nathanson restated a buy rating on shares of Alphabet in a research report on Friday, June 9th. One analyst has rated the stock with a sell rating, six have given a hold rating and forty-one have issued a buy rating to the company. The stock has a consensus rating of Buy and a consensus price target of $1,030.47.
Shares of Alphabet (NASDAQ GOOG) traded down 0.34% during midday trading on Thursday, hitting $918.16. 448,970 shares of the stock traded hands. The firm’s 50 day moving average price is $934.27 and its 200 day moving average price is $895.99. The company has a market capitalization of $636.17 billion, a PE ratio of 33.28 and a beta of 0.94. Alphabet has a 12-month low of $727.54 and a 12-month high of $988.25. Alphabet also was the target of unusually large options trading on Wednesday. Traders bought 16,186 call options on the stock. This represents an increase of 162% compared to the typical volume of 6,176 call options.
Alphabet (NASDAQ:GOOG) last posted its earnings results on Monday, July 24th. The information services provider reported $5.01 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $4.43 by $0.58. Alphabet had a return on equity of 13.66% and a net margin of 19.49%. The business had revenue of $26.01 billion during the quarter, compared to analysts’ expectations of $25.61 billion. During the same period in the previous year, the business earned $8.42 earnings per share. The firm’s revenue was up 21.0% on a year-over-year basis. Analysts expect that Alphabet will post $30.60 EPS for the current year.
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In other Alphabet news, CEO Sundar Pichai sold 4,000 shares of the stock in a transaction on Wednesday, July 5th. The stock was sold at an average price of $903.86, for a total transaction of $3,615,440.00. Following the sale, the chief executive officer now directly owns 1,911 shares in the company, valued at approximately $1,727,276.46. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 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. Over the last quarter, insiders have sold 47,169 shares of company stock worth $44,206,482. Company insiders own 13.92% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the stock. Burt Wealth Advisors boosted its position in Alphabet by 17.2% in the second quarter. Burt Wealth Advisors now owns 136 shares of the information services provider’s stock valued at $123,000 after buying an additional 20 shares during the last quarter. Signature Estate & Investment Advisors LLC boosted its position in Alphabet by 3.8% in the second quarter. Signature Estate & Investment Advisors LLC now owns 137 shares of the information services provider’s stock valued at $124,000 after buying an additional 5 shares during the last quarter. Riggs Asset Managment Co. Inc. boosted its position in Alphabet by 39.6% in the second quarter. Riggs Asset Managment Co. Inc. now owns 141 shares of the information services provider’s stock valued at $128,000 after buying an additional 40 shares during the last quarter. Farmers National Bank boosted its position in Alphabet by 15.0% in the first quarter. Farmers National Bank now owns 161 shares of the information services provider’s stock valued at $134,000 after buying an additional 21 shares during the last quarter. Finally, Archford Capital Strategies LLC boosted its position in Alphabet by 400.0% in the second quarter. Archford Capital Strategies LLC now owns 1,040 shares of the information services provider’s stock valued at $139,000 after buying an additional 832 shares during the last quarter. 34.57% of the stock is currently owned by hedge funds and other institutional investors.
Alphabet Company Profile
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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