Other research analysts have also recently issued research reports about the stock. Vetr cut shares of Alphabet from a strong-buy rating to a buy rating and set a $770.61 price objective for the company. in a report on Tuesday, June 21st. Evercore ISI restated a buy rating and issued a $830.00 price objective (down previously from $950.00) on shares of Alphabet in a report on Thursday, June 23rd. Citigroup Inc. restated a buy rating and issued a $900.00 price objective on shares of Alphabet in a report on Saturday, June 18th. Goldman Sachs Group Inc. restated a buy rating and issued a $810.00 price objective (down previously from $850.00) on shares of Alphabet in a report on Wednesday, June 29th. Finally, Axiom Securities restated a buy rating and issued a $970.00 price objective (down previously from $1,001.00) on shares of Alphabet in a report on Wednesday, June 29th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, forty-five have given a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of Buy and an average target price of $923.68.
Alphabet (NASDAQ:GOOG) opened at 783.01 on Friday. The firm has a 50-day moving average of $774.36 and a 200-day moving average of $737.99. Alphabet has a 52 week low of $599.85 and a 52 week high of $789.87. The company has a market capitalization of $538.14 billion, a P/E ratio of 30.34 and a beta of 1.03.
Alphabet (NASDAQ:GOOG) last released its quarterly earnings results on Thursday, July 28th. The company reported $8.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.03 by $0.39. The business had revenue of $21.50 billion for the quarter, compared to the consensus estimate of $20.74 billion. Alphabet had a net margin of 22.00% and a return on equity of 14.74%. The business’s revenue was up 21.3% on a year-over-year basis. During the same period in the previous year, the firm earned $6.99 EPS. Analysts anticipate that Alphabet will post $34.30 EPS for the current fiscal year.
In other Alphabet news, CEO Sundar Pichai sold 4,000 shares of Alphabet stock in a transaction on Wednesday, July 6th. The shares were sold at an average price of $690.94, for a total value of $2,763,760.00. Following the completion of the transaction, the chief executive officer now owns 3,672 shares of the company’s stock, valued at $2,537,131.68. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Sergey Brin sold 66,664 shares of Alphabet stock in a transaction on Tuesday, August 23rd. The stock was sold at an average price of $785.10, for a total transaction of $52,337,906.40. Following the completion of the transaction, the insider now directly owns 28,200 shares of the company’s stock, valued at approximately $22,139,820. The disclosure for this sale can be found here. Insiders own 13.92% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the company. Bank of Montreal Can acquired a new position in Alphabet during the second quarter worth approximately $927,982,000. Magellan Asset Management Ltd increased its position in Alphabet by 186.5% in the second quarter. Magellan Asset Management Ltd now owns 1,435,391 shares of the company’s stock worth $993,434,000 after buying an additional 934,412 shares in the last quarter. Winslow Capital Management LLC acquired a new position in Alphabet during the second quarter worth approximately $498,110,000. Emerald Acquisition Ltd. acquired a new position in Alphabet during the second quarter worth approximately $481,330,000. Finally, Jana Partners LLC acquired a new position in Alphabet during the first quarter worth approximately $472,266,000. 34.39% of the stock is owned by hedge funds and other 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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