Deutsche Bank reaffirmed their buy rating on shares of Alphabet (NASDAQ:GOOG) in a research note released on Tuesday morning, Borsen Zeitung reports.
Other analysts also recently issued reports about the company. Oppenheimer increased their price objective on Alphabet from $1,342.00 to $1,370.00 and gave the company an outperform rating in a report on Friday, July 26th. JPMorgan Chase & Co. reissued a buy rating on shares of Alphabet in a research report on Friday, July 26th. Zacks Investment Research raised shares of Alphabet from a hold rating to a buy rating and set a $1,372.00 price objective on the stock in a research report on Wednesday, July 31st. Cowen raised their price target on shares of Alphabet from $1,400.00 to $1,500.00 and gave the company an outperform rating in a research report on Friday, July 26th. Finally, Pivotal Research assumed coverage on shares of Alphabet in a research note on Wednesday, May 29th. They issued a hold rating for the company. Three equities research analysts have rated the stock with a hold rating and twenty-eight have given a buy rating to the stock. The company currently has an average rating of Buy and an average price target of $1,373.93.
Shares of NASDAQ:GOOG opened at $1,188.01 on Tuesday. Alphabet has a 12-month low of $970.11 and a 12-month high of $1,289.27. The company has a market capitalization of $814.04 billion, a PE ratio of 25.01, a PEG ratio of 1.29 and a beta of 0.96. The stock’s 50 day moving average price is $1,148.18. The company has a current ratio of 3.98, a quick ratio of 3.96 and a debt-to-equity ratio of 0.07.
Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Thursday, July 25th. The information services provider reported $14.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $11.49 by $2.72. Alphabet had a return on equity of 20.15% and a net margin of 23.43%. The business had revenue of $38.94 billion during the quarter, compared to analysts’ expectations of $38.21 billion. During the same period in the previous year, the company posted $11.75 earnings per share. The firm’s revenue for the quarter was up 19.3% compared to the same quarter last year. On average, analysts forecast that Alphabet will post 52.1 earnings per share for the current year.
In other Alphabet news, VP Amie Thuener O’toole sold 55 shares of the firm’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $1,200.74, for a total transaction of $66,040.70. Following the transaction, the vice president now owns 388 shares of the company’s stock, valued at approximately $465,887.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Capitalg Lp bought 140,000 shares of the business’s stock in a transaction on Friday, June 14th. The shares were acquired at an average cost of $34.00 per share, for a total transaction of $4,760,000.00. The disclosure for this purchase can be found here. Insiders sold a total of 2,123 shares of company stock worth $2,553,758 in the last ninety days. 12.99% of the stock is currently owned by insiders.
A number of hedge funds have recently added to or reduced their stakes in GOOG. Curbstone Financial Management Corp increased its holdings in Alphabet by 4.3% in the 2nd quarter. Curbstone Financial Management Corp now owns 3,412 shares of the information services provider’s stock worth $3,688,000 after acquiring an additional 140 shares in the last quarter. B. Riley Wealth Management Inc. boosted its holdings in shares of Alphabet by 9.0% in the first quarter. B. Riley Wealth Management Inc. now owns 980 shares of the information services provider’s stock valued at $1,150,000 after acquiring an additional 81 shares during the period. First National Bank of Hutchinson lifted its holdings in shares of Alphabet by 3.7% during the fourth quarter. First National Bank of Hutchinson now owns 1,232 shares of the information services provider’s stock worth $1,276,000 after purchasing an additional 44 shares during the period. Atlantic Union Bankshares Corp lifted its holdings in shares of Alphabet by 4.2% during the second quarter. Atlantic Union Bankshares Corp now owns 699 shares of the information services provider’s stock worth $756,000 after purchasing an additional 28 shares during the period. Finally, Cornerstone Advisors Inc. lifted its holdings in shares of Alphabet by 3.6% during the second quarter. Cornerstone Advisors Inc. now owns 1,751 shares of the information services provider’s stock worth $1,893,000 after purchasing an additional 61 shares during the period. Institutional investors own 34.02% of the company’s stock.
Alphabet Inc provides online advertising services in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It offers performance and brand advertising services. The company operates through Google and Other Bets segments. The Google segment offers products, such as Ads, Android, Chrome, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure.
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