Alphabet Inc. (NASDAQ:GOOG) has been given a $900.00 target price by research analysts at Needham & Company LLC in a research report issued on Wednesday. The brokerage currently has a a “buy” rating on the stock. Needham & Company LLC’s price objective would suggest a potential upside of 15.85% from the company’s current price.
Other equities research analysts have also issued research reports about the stock. Longbow Research started coverage on shares of Alphabet in a research note on Wednesday, July 6th. They set a “buy” rating on the stock. Cantor Fitzgerald reaffirmed a “buy” rating on shares of Alphabet in a report on Tuesday, July 5th. Axiom Securities reaffirmed a “buy” rating and issued a $970.00 target price (down from $1,001.00) on shares of Alphabet in a report on Wednesday, June 29th. Goldman Sachs Group Inc. reaffirmed a “buy” rating and issued a $810.00 target price (down from $850.00) on shares of Alphabet in a report on Wednesday, June 29th. Finally, Vetr cut shares of Alphabet from a “strong-buy” rating to a “buy” rating and set a $770.61 target price for the company. in a report on Tuesday, June 21st. One research analyst has rated the stock with a sell rating, one has issued a hold rating, forty-five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $926.55.
Alphabet (NASDAQ:GOOG) opened at 776.86 on Wednesday. The stock’s 50 day moving average is $773.21 and its 200-day moving average is $740.06. Alphabet has a 52-week low of $635.32 and a 52-week high of $789.87. The company has a market capitalization of $533.91 billion, a P/E ratio of 30.10 and a beta of 1.03.
Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Thursday, July 28th. The company reported $8.42 EPS for the quarter, topping the consensus estimate of $8.03 by $0.39. Alphabet had a net margin of 22.00% and a return on equity of 14.74%. The business had revenue of $21.50 billion for the quarter, compared to analyst estimates of $20.74 billion. During the same quarter in the previous year, the firm posted $6.99 earnings per share. Alphabet’s quarterly revenue was up 21.3% on a year-over-year basis. Analysts predict that Alphabet will post $34.14 EPS for the current fiscal year.
In other Alphabet news, CEO Sundar Pichai sold 4,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 5th. The shares were sold at an average price of $781.81, for a total transaction of $3,127,240.00. Following the completion of the transaction, the chief executive officer now directly owns 3,231 shares of the company’s stock, valued at approximately $2,526,028.11. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP James Grier Campbell sold 194 shares of the firm’s stock in a transaction that occurred on Monday, October 3rd. The stock was sold at an average price of $774.25, for a total transaction of $150,204.50. The disclosure for this sale can be found here. Company insiders own 13.92% of the company’s stock.
A number of institutional investors have recently bought and sold shares of GOOG. Mesirow Financial Investment Management Equity Management acquired a new position in Alphabet during the second quarter worth about $121,000. Whitnell & Co. raised its position in Alphabet by 20.6% in the second quarter. Whitnell & Co. now owns 187 shares of the company’s stock valued at $129,000 after buying an additional 32 shares during the period. D. Scott Neal Inc. raised its position in Alphabet by 2,000.0% in the second quarter. D. Scott Neal Inc. now owns 210 shares of the company’s stock valued at $145,000 after buying an additional 200 shares during the period. Pathstone Family Office LLC raised its position in Alphabet by 7.2% in the second quarter. Pathstone Family Office LLC now owns 222 shares of the company’s stock valued at $154,000 after buying an additional 15 shares during the period. Finally, Cacti Asset Management LLC purchased a new position in Alphabet during the second quarter valued at $159,000. 34.39% of the stock is 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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