Alphabet’s (GOOG) Buy Rating Reaffirmed at Royal Bank Of Canada

Alphabet (NASDAQ:GOOG)‘s stock had its “buy” rating restated by equities research analysts at Royal Bank Of Canada in a note issued to investors on Thursday,Benzinga reports. They currently have a $475.00 price target on the information services provider’s stock. Royal Bank Of Canada’s price objective points to a potential upside of 48.38% from the company’s previous close.

A number of other research firms have also recently issued reports on GOOG. BMO Capital Markets lifted their price target on shares of Alphabet from $455.00 to $465.00 and gave the company an “outperform” rating in a research note on Thursday. Oppenheimer reiterated an “outperform” rating and set a $400.00 price target (down from $445.00) on shares of Alphabet in a research report on Thursday. UBS Group reaffirmed a “neutral” rating and set a $379.00 target price (down from $400.00) on shares of Alphabet in a report on Thursday. Piper Sandler reissued an “overweight” rating and issued a $395.00 price target (down from $445.00) on shares of Alphabet in a research note on Thursday. Finally, Scotiabank reaffirmed an “outperform” rating and set a $450.00 price objective (up from $400.00) on shares of Alphabet in a research note on Thursday, April 30th. Five equities research analysts have rated the stock with a Strong Buy rating, thirty have given a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $411.30.

Alphabet Stock Performance

Alphabet stock traded down $21.78 during trading hours on Thursday, hitting $320.13. 26,283,865 shares of the stock traded hands, compared to its average volume of 21,443,914. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.92 and a quick ratio of 1.92. Alphabet has a 1 year low of $188.70 and a 1 year high of $404.47. The stock has a market capitalization of $3.88 trillion, a price-to-earnings ratio of 24.49, a P/E/G ratio of 1.43 and a beta of 1.23. The firm’s 50 day moving average price is $363.69 and its 200-day moving average price is $337.49.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Thursday, July 23rd. The information services provider reported $9.11 EPS for the quarter, beating the consensus estimate of $2.88 by $6.23. The business had revenue of $119.80 billion for the quarter, compared to the consensus estimate of $117.06 billion. Alphabet had a net margin of 37.92% and a return on equity of 38.99%. The business’s revenue for the quarter was up 24.2% on a year-over-year basis. During the same period in the prior year, the firm earned $2.31 EPS. As a group, equities analysts expect that Alphabet will post 14.34 EPS for the current fiscal year.

Insider Buying and Selling at Alphabet

In related news, Director Frances Arnold sold 112 shares of the firm’s stock in a transaction dated Tuesday, June 30th. The stock was sold at an average price of $351.28, for a total transaction of $39,343.36. Following the completion of the sale, the director directly owned 18,833 shares of the company’s stock, valued at approximately $6,615,656.24. This trade represents a 0.59% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider John Kent Walker sold 8,998 shares of the business’s stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $349.29, for a total transaction of $3,142,911.42. Following the completion of the sale, the insider owned 75,290 shares in the company, valued at approximately $26,298,044.10. This trade represents a 10.68% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 159,415 shares of company stock worth $7,672,279. Insiders own 12.99% of the company’s stock.

Institutional Investors Weigh In On Alphabet

A number of institutional investors have recently modified their holdings of the company. Brighton Jones LLC grew its stake in Alphabet by 5.6% during the 4th quarter. Brighton Jones LLC now owns 120,253 shares of the information services provider’s stock worth $22,901,000 after purchasing an additional 6,410 shares in the last quarter. Worldquant Millennium Advisors LLC grew its position in shares of Alphabet by 76.2% during the second quarter. Worldquant Millennium Advisors LLC now owns 1,865,304 shares of the information services provider’s stock worth $330,886,000 after buying an additional 806,681 shares in the last quarter. Darwin Wealth Management LLC purchased a new stake in shares of Alphabet during the second quarter worth approximately $658,000. Financial Advisors Network Inc. increased its stake in shares of Alphabet by 7.7% during the second quarter. Financial Advisors Network Inc. now owns 7,945 shares of the information services provider’s stock worth $1,409,000 after buying an additional 565 shares during the period. Finally, Ausdal Financial Partners Inc. raised its holdings in Alphabet by 10.7% in the second quarter. Ausdal Financial Partners Inc. now owns 37,310 shares of the information services provider’s stock valued at $6,618,000 after acquiring an additional 3,616 shares in the last quarter. 27.26% of the stock is owned by institutional investors and hedge funds.

More Alphabet News

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Google Cloud delivered a major revenue and growth beat, reinforcing that Alphabet’s AI investments are driving real enterprise demand.
• Positive Sentiment: Several analysts kept bullish ratings and only modestly trimmed price targets, signaling Wall Street still sees meaningful upside.
• Positive Sentiment: Gemini is nearing another billion-user milestone, highlighting strong adoption across Alphabet’s AI ecosystem.
• Neutral Sentiment: Alphabet launched new Gemini model updates and security features, including video-selfie account recovery, which are incremental product improvements.
• Negative Sentiment: Higher AI capex and negative free cash flow are driving investor concern that spending is outrunning short-term monetization.
• Negative Sentiment: The EU imposed an approximately $1 billion antitrust fine on Google over Search and Play Store practices, adding regulatory pressure.

About Alphabet

Alphabet Inc (NASDAQ: GOOG) is a multinational technology holding company headquartered in Mountain View, California. Formed in 2015 through a corporate restructuring of Google, Alphabet serves as the parent to Google LLC and a portfolio of businesses collectively known as “Other Bets.” Google was originally founded in 1998 by Larry Page and Sergey Brin; Alphabet is led by CEO Sundar Pichai, who oversees Google and the broader company while the founders remain prominent shareholders and influential figures in the company’s history.

Alphabet’s core business centers on internet search and advertising, with Google Search and the company’s ad platforms (including Google Ads and AdSense) generating the majority of revenue by connecting advertisers with consumers worldwide.