Alphabet (NASDAQ:GOOGL – Get Free Report)‘s stock had its “overweight” rating reaffirmed by investment analysts at Cantor Fitzgerald in a research report issued to clients and investors on Monday, Benzinga reports. They presently have a $420.00 price target on the information services provider’s stock. Cantor Fitzgerald’s target price suggests a potential upside of 18.94% from the company’s previous close.
Other equities research analysts have also issued reports about the stock. KeyCorp upped their price target on shares of Alphabet from $425.00 to $445.00 and gave the company an “overweight” rating in a report on Friday, July 10th. Phillip Securities upgraded shares of Alphabet from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, July 27th. Wedbush reaffirmed an “outperform” rating and set a $445.00 target price on shares of Alphabet in a report on Thursday, July 23rd. Morgan Stanley set a $400.00 price objective on shares of Alphabet and gave the company an “overweight” rating in a report on Thursday, July 23rd. Finally, Zacks Research downgraded shares of Alphabet from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 11th. Five analysts have rated the stock with a Strong Buy rating, forty-six have issued a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, Alphabet presently has a consensus rating of “Buy” and an average target price of $425.74.
Check Out Our Latest Research Report on Alphabet
Alphabet Stock Performance
Alphabet (NASDAQ:GOOGL – Get Free Report) last announced its quarterly earnings data on Wednesday, July 22nd. The information services provider reported $9.11 earnings per share for the quarter, beating analysts’ consensus estimates of $2.89 by $6.22. The firm had revenue of $119.80 billion for the quarter, compared to analyst estimates of $117.07 billion. Alphabet had a net margin of 54.77% and a return on equity of 51.32%. Equities analysts anticipate that Alphabet will post 20.54 EPS for the current fiscal year.
Insider Buying and Selling at Alphabet
In other news, major shareholder 2019 Gp L.L.C. Gv sold 196,931 shares of Alphabet stock in a transaction on Monday, July 27th. The shares were sold at an average price of $19.46, for a total transaction of $3,832,277.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Marsida Saraci sold 449 shares of Alphabet stock in a transaction on Wednesday, July 29th. The stock was sold at an average price of $333.20, for a total transaction of $149,606.80. Following the sale, the chief accounting officer directly owned 27,386 shares of the company’s stock, valued at approximately $9,125,015.20. This trade represents a 1.61% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 441,399 shares of company stock valued at $8,677,053 in the last 90 days. Company insiders own 11.61% of the company’s stock.
Institutional Investors Weigh In On Alphabet
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. EMC Capital Management purchased a new stake in shares of Alphabet in the fourth quarter valued at about $33,000. Lifetime Wealth Management P.C. purchased a new position in shares of Alphabet during the fourth quarter valued at approximately $32,000. Core Capital Management & Research inc. purchased a new position in shares of Alphabet during the second quarter valued at approximately $41,000. Premier Financial Group acquired a new position in Alphabet during the second quarter worth approximately $45,000. Finally, Bard Associates Inc. acquired a new position in Alphabet during the fourth quarter worth approximately $52,000. 40.03% of the stock is currently owned by institutional investors and hedge funds.
Alphabet News Roundup
Here are the key news stories impacting Alphabet this week:
- Positive Sentiment: Google launched its flagship Gemini 4 Argon AI model for developers, businesses and paying users. The model is positioned as competitive in coding and specialized knowledge work, reinforcing Alphabet’s efforts to monetize its AI leadership. Google launches flagship AI model Gemini 4 Argon
- Positive Sentiment: UBS raised its price target for Alphabet, while BNP Paribas increased its target to $450 based partly on the outlook for Alphabet’s in-house Tensor Processing Units. Analysts see potential for those chips to become a significant AI-related revenue opportunity and help reduce reliance on outside suppliers. Alphabet target bumped at BNP Paribas
- Positive Sentiment: American Electric Power plans to invest approximately $4 billion in a Wyoming fuel-cell generation project to serve Google’s growing electricity demand. The deal highlights the scale of Alphabet’s AI data-center expansion while improving visibility into its long-term power supply. American Electric Power fuel-cell project for Google
- Positive Sentiment: Google DeepMind and Google Cloud will give European researchers access to frontier AI models, potentially broadening model adoption and strengthening Alphabet’s research ecosystem. Google provides European researchers access to frontier models
Alphabet Company Profile
Alphabet Inc is a technology and internet services company best known as the parent company of Google. Its primary business, Google Services, includes online search, digital advertising, YouTube, Android, Chrome, Google Maps, Google Play, and a range of hardware and subscription products.
Alphabet also operates Google Cloud, which provides infrastructure, data analytics, cybersecurity, productivity software, and artificial intelligence services to businesses, governments, and other organizations.
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