Several other research firms also recently weighed in on GOOG. Cantor Fitzgerald reaffirmed a buy rating on shares of Alphabet in a research note on Friday, July 29th. SunTrust Banks Inc. reaffirmed a buy rating and issued a $900.00 price objective (up from $850.00) on shares of Alphabet in a research note on Sunday, July 31st. Vetr downgraded Alphabet from a strong-buy rating to a buy rating and set a $770.61 price objective for the company. in a research note on Tuesday, June 21st. Credit Agricole SA reaffirmed a buy rating and issued a $990.00 price objective (up from $970.00) on shares of Alphabet in a research note on Sunday, July 31st. Finally, Independent Research GmbH set a $870.00 price objective on Alphabet and gave the company a neutral rating in a research note on Monday, August 1st. One analyst has rated the stock with a sell rating, one has given a hold rating, forty-five have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of Buy and a consensus price target of $923.68.
Alphabet (NASDAQ:GOOG) opened at 783.01 on Friday. The firm has a market cap of $538.14 billion, a price-to-earnings ratio of 30.34 and a beta of 1.03. Alphabet has a 52 week low of $599.85 and a 52 week high of $789.87. The stock has a 50 day moving average price of $774.36 and a 200 day moving average price of $737.99.
Alphabet (NASDAQ:GOOG) last issued its earnings results on Thursday, July 28th. The company reported $8.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $8.03 by $0.39. The business earned $21.50 billion during the quarter, compared to the consensus estimate of $20.74 billion. Alphabet had a return on equity of 14.74% and a net margin of 22.00%. The company’s revenue for the quarter was up 21.3% on a year-over-year basis. During the same period in the prior year, the business posted $6.99 EPS. Equities research analysts expect that Alphabet will post $34.30 EPS for the current year.
In other Alphabet news, Director Ann Mather sold 115 shares of the business’s stock in a transaction on Monday, August 1st. The shares were sold at an average price of $769.38, for a total transaction of $88,478.70. Following the sale, the director now directly owns 1,656 shares of the company’s stock, valued at approximately $1,274,093.28. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Sergey Brin sold 33,332 shares of the business’s stock in a transaction on Monday, September 26th. The shares were sold at an average price of $789.56, for a total transaction of $26,317,613.92. The disclosure for this sale can be found here. 13.92% of the stock is owned by company insiders.
A number of hedge funds have recently made changes to their positions in the stock. Iberiabank Corp purchased a new stake in shares of Alphabet during the first quarter valued at about $279,000. Mission Wealth Management LLC increased its stake in shares of Alphabet by 40.4% in the first quarter. Mission Wealth Management LLC now owns 1,616 shares of the company’s stock valued at $1,204,000 after buying an additional 465 shares during the period. Culbertson A N & Co. Inc. purchased a new stake in shares of Alphabet during the first quarter valued at about $1,744,000. Jacobs & Co. CA increased its stake in shares of Alphabet by 1.3% in the first quarter. Jacobs & Co. CA now owns 9,054 shares of the company’s stock valued at $6,744,000 after buying an additional 120 shares during the period. Finally, TNB Financial increased its stake in shares of Alphabet by 27.3% in the first quarter. TNB Financial now owns 12,719 shares of the company’s stock valued at $9,475,000 after buying an additional 2,724 shares during the period. 34.39% of the stock is currently owned by institutional investors.
Alphabet Inc is a holding company. The Company holds interests in Google Inc (Google). The Company’s segments include Google and Other Bets. Google segment includes Internet products, such as Search, Ads, Commerce, Maps, YouTube, Apps, Cloud, Android, Chrome, Google Play, and hardware products, including Chromecast, Chromebooks and Nexus, which are sold by the Company.
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