Alphabet Inc. (NASDAQ:GOOG)‘s stock had its “outperform” rating restated by research analysts at RBC Capital Markets in a report issued on Friday. They presently have a $1,025.00 price target on the stock, up from their previous price target of $1,000.00. RBC Capital Markets’ price objective suggests a potential upside of 31.87% from the stock’s current price.
Other research analysts have also issued reports about the company. Vetr lowered Alphabet from a “strong-buy” rating to a “buy” rating and set a $770.61 price target for the company. in a research report on Tuesday, June 21st. Evercore ISI reissued a “buy” rating and issued a $830.00 price target (down from $950.00) on shares of Alphabet in a research report on Thursday, June 23rd. Citigroup Inc. reissued a “buy” rating and issued a $900.00 price target on shares of Alphabet in a research report on Saturday, June 18th. Cantor Fitzgerald reissued a “buy” rating on shares of Alphabet in a research report on Tuesday, July 5th. Finally, Axiom Securities reissued a “buy” rating and issued a $970.00 price target (down from $1,001.00) on shares of Alphabet in a research report on Wednesday, June 29th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, forty-six have issued a buy rating and one has assigned a strong buy rating to the stock. Alphabet has a consensus rating of “Buy” and an average price target of $925.99.
Alphabet (NASDAQ:GOOG) traded up 0.29% on Friday, reaching $777.29. The company’s stock had a trading volume of 1,585,333 shares. Alphabet has a 1-year low of $625.56 and a 1-year high of $789.87. The company has a market capitalization of $534.21 billion, a price-to-earnings ratio of 30.12 and a beta of 1.03. The firm’s 50 day moving average price is $773.79 and its 200-day moving average price is $738.90.
Alphabet (NASDAQ:GOOG) last released its quarterly earnings results on Thursday, July 28th. The company reported $8.42 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $8.03 by $0.39. The firm earned $21.50 billion during the quarter, compared to analyst estimates of $20.74 billion. Alphabet had a return on equity of 14.74% and a net margin of 22.00%. The business’s revenue for the quarter was up 21.3% compared to the same quarter last year. During the same period in the previous year, the company posted $6.99 EPS. Equities analysts forecast that Alphabet will post $34.30 earnings per share for the current year.
In other Alphabet news, CEO Sundar Pichai sold 4,000 shares of the firm’s stock in a transaction on Wednesday, July 6th. The stock was sold at an average price of $690.94, for a total value of $2,763,760.00. Following the sale, the chief executive officer now directly owns 3,672 shares in the company, valued at $2,537,131.68. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP James Grier Campbell sold 603 shares of the firm’s stock in a transaction on Wednesday, August 3rd. The shares were sold at an average price of $767.18, for a total value of $462,609.54. The disclosure for this sale can be found here. 13.92% of the stock is owned by company insiders.
Hedge funds have recently bought and sold shares of the stock. Mesirow Financial Investment Management Equity Management purchased a new stake in Alphabet during the second quarter worth approximately $121,000. Whitnell & Co. boosted its stake in Alphabet by 20.6% in the second quarter. Whitnell & Co. now owns 187 shares of the company’s stock worth $129,000 after buying an additional 32 shares during the period. D. Scott Neal Inc. boosted its stake in Alphabet by 2,000.0% in the second quarter. D. Scott Neal Inc. now owns 210 shares of the company’s stock worth $145,000 after buying an additional 200 shares during the period. Pathstone Family Office LLC boosted its stake in Alphabet by 7.2% in the second quarter. Pathstone Family Office LLC now owns 222 shares of the company’s stock worth $154,000 after buying an additional 15 shares during the period. Finally, Cacti Asset Management LLC purchased a new stake in Alphabet during the second quarter worth approximately $159,000. Institutional investors own 34.39% of the company’s stock.
Alphabet Company Profile
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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