Alphabet Inc. (GOOG) Earns “Outperform” Rating from Robert W. Baird
Alphabet Inc. (NASDAQ:GOOG)‘s stock had its “outperform” rating reaffirmed by equities researchers at Robert W. Baird in a report issued on Saturday. They currently have a $1,100.00 price target on the information services provider’s stock. Robert W. Baird’s price target indicates a potential upside of 20.10% from the company’s current price.
Several other equities research analysts also recently issued reports on the company. BidaskClub upgraded Alphabet from a “hold” rating to a “buy” rating in a report on Friday. UBS AG reiterated an “overweight” rating on shares of Alphabet in a report on Thursday. Vetr downgraded Alphabet from a “strong-buy” rating to a “buy” rating and set a $1,031.46 price target for the company. in a report on Tuesday. SunTrust Banks, Inc. began coverage on Alphabet in a report on Wednesday, August 16th. They set a “buy” rating and a $1,100.00 price target for the company. Finally, Cowen and Company reiterated an “outperform” rating and set a $1,075.00 price target on shares of Alphabet in a report on Thursday, August 10th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and forty-one have assigned a buy rating to the company’s stock. Alphabet presently has a consensus rating of “Buy” and a consensus price target of $1,030.47.
Alphabet (NASDAQ:GOOG) traded down 0.59% during mid-day trading on Friday, reaching $915.89. 1,053,376 shares of the company’s stock were exchanged. Alphabet has a 52-week low of $727.54 and a 52-week high of $988.25. The company has a market cap of $634.60 billion, a PE ratio of 33.19 and a beta of 0.94. The stock has a 50-day moving average price of $934.52 and a 200 day moving average price of $896.81. Alphabet also was the target of unusually large options trading on Wednesday. Investors purchased 16,186 call options on the stock. This represents an increase of approximately 162% compared to the average daily volume of 6,176 call options.
Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Monday, July 24th. The information services provider reported $5.01 earnings per share (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 the consensus estimate of $25.61 billion. During the same quarter in the prior year, the company posted $8.42 earnings per share. Alphabet’s revenue was up 21.0% compared to the same quarter last year. Equities analysts predict that Alphabet will post $30.60 earnings per share for the current fiscal year.
In related news, CEO Sundar Pichai sold 4,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 7th. The stock was sold at an average price of $981.45, for a total transaction of $3,925,800.00. Following the transaction, the chief executive officer now directly owns 2,058 shares in the company, valued at approximately $2,019,824.10. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP James Grier Campbell sold 183 shares of the firm’s stock in a transaction that occurred on Thursday, June 1st. The stock was 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 have sold a total of 47,169 shares of company stock worth $44,206,482 over the last quarter. Corporate insiders own 13.92% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its position in Alphabet by 3.0% in the second quarter. Vanguard Group Inc. now owns 20,440,038 shares of the information services provider’s stock valued at $18,574,476,000 after buying an additional 589,654 shares during the last quarter. BlackRock Inc. raised its position in Alphabet by 4.8% in the second quarter. BlackRock Inc. now owns 18,058,006 shares of the information services provider’s stock valued at $16,409,850,000 after buying an additional 826,480 shares during the last quarter. FMR LLC raised its position in Alphabet by 0.4% in the second quarter. FMR LLC now owns 13,971,679 shares of the information services provider’s stock valued at $12,696,484,000 after buying an additional 62,507 shares during the last quarter. State Street Corp raised its position in Alphabet by 0.3% in the first quarter. State Street Corp now owns 12,067,675 shares of the information services provider’s stock valued at $10,010,859,000 after buying an additional 36,864 shares during the last quarter. Finally, Capital World Investors raised its position in Alphabet by 13.9% in the second quarter. Capital World Investors now owns 6,371,356 shares of the information services provider’s stock valued at $5,789,842,000 after buying an additional 776,853 shares during the last quarter. Institutional investors and hedge funds own 34.57% of the company’s stock.
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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