Alphabet’s (GOOGL) “Neutral” Rating Reiterated at DA Davidson

Alphabet (NASDAQ:GOOGL)‘s stock had its “neutral” rating reiterated by analysts at DA Davidson in a research report issued to clients and investors on Tuesday,Benzinga reports. They currently have a $300.00 price target on the information services provider’s stock. DA Davidson’s price objective suggests a potential downside of 6.90% from the stock’s previous close.

GOOGL has been the subject of several other research reports. Oppenheimer raised their price target on shares of Alphabet from $270.00 to $300.00 and gave the company an “outperform” rating in a research note on Monday, October 20th. Wall Street Zen raised Alphabet from a “hold” rating to a “buy” rating in a research report on Saturday, November 1st. UBS Group reaffirmed a “neutral” rating and set a $306.00 target price (up from $255.00) on shares of Alphabet in a report on Thursday, October 30th. Rosenblatt Securities increased their price target on Alphabet from $224.00 to $279.00 and gave the company a “neutral” rating in a research note on Thursday, October 30th. Finally, Bank of America lifted their price objective on Alphabet from $280.00 to $335.00 and gave the stock a “buy” rating in a research note on Thursday, October 30th. Four investment analysts have rated the stock with a Strong Buy rating, forty-one have given a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $307.84.

Alphabet Trading Up 1.1%

Alphabet stock traded up $3.65 during trading hours on Tuesday, hitting $322.23. The stock had a trading volume of 65,804,397 shares, compared to its average volume of 36,657,121. The business’s 50 day simple moving average is $263.73 and its 200-day simple moving average is $215.00. Alphabet has a one year low of $140.53 and a one year high of $328.83. The stock has a market cap of $3.89 trillion, a price-to-earnings ratio of 31.77, a P/E/G ratio of 1.86 and a beta of 1.05. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Wednesday, October 29th. The information services provider reported $2.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.29 by $0.58. Alphabet had a net margin of 32.23% and a return on equity of 36.08%. The business had revenue of $102.35 billion during the quarter, compared to analyst estimates of $99.90 billion. On average, equities analysts predict that Alphabet will post 8.9 EPS for the current fiscal year.

Insider Activity

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction on Wednesday, October 15th. The stock was sold at an average price of $250.15, for a total transaction of $8,129,875.00. Following the transaction, the chief executive officer directly owned 2,369,619 shares in the company, valued at approximately $592,760,192.85. This trade represents a 1.35% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Amie Thuener O’toole sold 2,778 shares of the business’s stock in a transaction that occurred on Wednesday, October 15th. The stock was sold at an average price of $250.05, for a total value of $694,638.90. Following the completion of the transaction, the chief accounting officer owned 14,516 shares in the company, valued at $3,629,725.80. The trade was a 16.06% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 225,174 shares of company stock worth $58,095,223. Company insiders own 11.64% of the company’s stock.

Hedge Funds Weigh In On Alphabet

Institutional investors have recently bought and sold shares of the company. LWM Advisory Services LLC raised its stake in shares of Alphabet by 3.3% in the third quarter. LWM Advisory Services LLC now owns 4,426 shares of the information services provider’s stock valued at $1,088,000 after buying an additional 141 shares during the period. ARQ Wealth Advisors LLC increased its holdings in Alphabet by 321.9% in the 3rd quarter. ARQ Wealth Advisors LLC now owns 8,146 shares of the information services provider’s stock worth $1,980,000 after acquiring an additional 6,215 shares during the last quarter. Opes Wealth Management LLC raised its stake in Alphabet by 4.1% in the 3rd quarter. Opes Wealth Management LLC now owns 9,194 shares of the information services provider’s stock valued at $2,235,000 after acquiring an additional 366 shares during the period. Manhattan West Asset Management LLC lifted its holdings in Alphabet by 0.6% during the third quarter. Manhattan West Asset Management LLC now owns 89,326 shares of the information services provider’s stock valued at $21,715,000 after purchasing an additional 555 shares during the last quarter. Finally, LifeGoal Investments LLC boosted its position in Alphabet by 7.0% during the third quarter. LifeGoal Investments LLC now owns 1,688 shares of the information services provider’s stock worth $410,000 after purchasing an additional 110 shares during the period. Hedge funds and other institutional investors own 40.03% of the company’s stock.

About Alphabet

Alphabet Inc offers various products and platforms in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment provides products and services, including ads, Android, Chrome, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.