A number of other equities research analysts have also recently commented on GOOG. Wells Fargo & Co reissued a buy rating on shares of Alphabet in a report on Friday, October 6th. Macquarie reaffirmed an outperform rating and issued a $995.00 target price on shares of Alphabet in a report on Friday, October 6th. Pivotal Research lifted their target price on Alphabet from $940.00 to $970.00 and gave the stock a hold rating in a report on Thursday, October 12th. Piper Jaffray Companies reaffirmed an overweight rating and issued a $1,150.00 target price on shares of Alphabet in a report on Thursday, October 19th. Finally, Goldman Sachs Group reaffirmed a buy rating on shares of Alphabet in a report on Friday, October 20th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and thirty-five have assigned a buy rating to the stock. The stock currently has a consensus rating of Buy and an average price target of $1,061.56.
Shares of Alphabet (NASDAQ:GOOG) opened at $1,055.80 on Friday. The company has a current ratio of 5.14, a quick ratio of 5.11 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $735,970.00, a PE ratio of 58.82 and a beta of 1.01. Alphabet has a twelve month low of $795.25 and a twelve month high of $1,186.89.
Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Thursday, February 1st. The information services provider reported $9.70 EPS for the quarter, missing the Zacks’ consensus estimate of $10.07 by ($0.37). The business had revenue of $32.32 billion for the quarter, compared to the consensus estimate of $31.88 billion. Alphabet had a net margin of 11.42% and a return on equity of 14.94%. Alphabet’s revenue was up 24.0% compared to the same quarter last year. During the same period in the prior year, the business earned $9.36 earnings per share.
Alphabet declared that its Board of Directors has initiated a stock buyback plan on Thursday, February 1st that allows the company to buyback $8.59 billion in shares. This buyback authorization allows the information services provider to reacquire shares of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.
In related news, Director Ann Mather sold 38 shares of the business’s stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $1,015.80, for a total value of $38,600.40. Following the completion of the sale, the director now owns 1,813 shares in the company, valued at $1,841,645.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sundar Pichai sold 4,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 6th. The shares were sold at an average price of $1,002.86, for a total value of $4,011,440.00. Following the completion of the sale, the chief executive officer now owns 1,178 shares of the company’s stock, valued at approximately $1,181,369.08. The disclosure for this sale can be found here. Insiders have sold 33,981 shares of company stock valued at $35,552,537 in the last 90 days. Company insiders own 13.92% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Stuart Chaussee & Associates Inc. boosted its holdings in shares of Alphabet by 108.3% in the fourth quarter. Stuart Chaussee & Associates Inc. now owns 100 shares of the information services provider’s stock valued at $105,000 after purchasing an additional 52 shares during the period. Price Wealth Management Inc. bought a new position in Alphabet in the fourth quarter worth approximately $125,000. Signature Estate & Investment Advisors LLC bought a new position in Alphabet in the fourth quarter worth approximately $132,000. Burt Wealth Advisors raised its stake in Alphabet by 17.2% in the second quarter. Burt Wealth Advisors now owns 136 shares of the information services provider’s stock worth $123,000 after buying an additional 20 shares in the last quarter. Finally, WealthTrust Arizona LLC raised its stake in Alphabet by 134.9% in the fourth quarter. WealthTrust Arizona LLC now owns 148 shares of the information services provider’s stock worth $155,000 after buying an additional 85 shares in the last quarter. Hedge funds and other institutional investors own 34.64% of the company’s stock.
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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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