TD Cowen Reaffirms “Buy” Rating for Alphabet (NASDAQ:GOOG)

Alphabet (NASDAQ:GOOG)‘s stock had its “buy” rating reissued by investment analysts at TD Cowen in a report issued on Thursday,Benzinga reports. They currently have a $475.00 target price on the information services provider’s stock. TD Cowen’s price objective would suggest a potential upside of 48.72% from the stock’s current price.

A number of other analysts have also issued reports on GOOG. Freedom Capital lowered shares of Alphabet from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 4th. Royal Bank Of Canada reiterated a “buy” rating and set a $475.00 price objective on shares of Alphabet in a research note on Thursday. Barclays reissued an “overweight” rating and set a $425.00 price objective (up from $405.00) on shares of Alphabet in a report on Thursday. Scotiabank reissued an “outperform” rating and issued a $450.00 target price (up from $400.00) on shares of Alphabet in a research report on Thursday, April 30th. Finally, The Goldman Sachs Group restated a “buy” rating and issued a $450.00 target price on shares of Alphabet in a research note on Thursday, May 21st. Five analysts have rated the stock with a Strong Buy rating, thirty have issued a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, Alphabet has a consensus rating of “Buy” and a consensus target price of $411.30.

Alphabet Stock Down 6.6%

GOOG traded down $22.52 on Thursday, reaching $319.39. The company’s stock had a trading volume of 28,246,179 shares, compared to its average volume of 21,460,461. The stock has a market cap of $3.87 trillion, a price-to-earnings ratio of 24.36, a price-to-earnings-growth ratio of 1.43 and a beta of 1.23. Alphabet has a 1 year low of $188.70 and a 1 year high of $404.47. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.92 and a quick ratio of 1.92. The business’s 50 day moving average is $363.69 and its 200 day moving average is $337.49.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Thursday, July 23rd. The information services provider reported $9.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.88 by $6.23. Alphabet had a return on equity of 38.99% and a net margin of 37.92%.The company had revenue of $119.80 billion for the quarter, compared to the consensus estimate of $117.06 billion. During the same period in the previous year, the business earned $2.31 EPS. Alphabet’s revenue for the quarter was up 24.2% compared to the same quarter last year. As a group, research analysts forecast that Alphabet will post 14.34 EPS for the current fiscal year.

Insider Transactions at Alphabet

In other news, Director John L. Hennessy sold 1,050 shares of the firm’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $368.63, for a total value of $387,061.50. Following the transaction, the director directly owned 1,481 shares in the company, valued at approximately $545,941.03. This trade represents a 41.49% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Marsida Saraci sold 449 shares of Alphabet stock in a transaction dated Friday, June 26th. The shares were sold at an average price of $341.72, for a total transaction of $153,432.28. Following the completion of the transaction, the chief accounting officer directly owned 27,348 shares of the company’s stock, valued at $9,345,358.56. This trade represents a 1.62% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 159,415 shares of company stock valued at $7,672,279 over the last quarter. Insiders own 12.99% of the company’s stock.

Hedge Funds Weigh In On Alphabet

Large investors have recently bought and sold shares of the business. Imprint Wealth LLC bought a new position in Alphabet during the 3rd quarter worth $31,000. Nvest Wealth Strategies Inc. bought a new stake in Alphabet in the fourth quarter valued at $38,000. Lifetime Wealth Management P.C. acquired a new position in shares of Alphabet during the fourth quarter valued at $38,000. Bard Associates Inc. acquired a new position in shares of Alphabet during the fourth quarter valued at $41,000. Finally, Towne Trust Company N.A grew its position in shares of Alphabet by 34.0% during the fourth quarter. Towne Trust Company N.A now owns 134 shares of the information services provider’s stock worth $42,000 after acquiring an additional 34 shares during the last quarter. Institutional investors own 27.26% of the company’s stock.

Alphabet News Roundup

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Google Cloud delivered a major revenue and growth beat, reinforcing that Alphabet’s AI investments are driving real enterprise demand.
• Positive Sentiment: Several analysts kept bullish ratings and only modestly trimmed price targets, signaling Wall Street still sees meaningful upside.
• Positive Sentiment: Gemini is nearing another billion-user milestone, highlighting strong adoption across Alphabet’s AI ecosystem.
• Neutral Sentiment: Alphabet launched new Gemini model updates and security features, including video-selfie account recovery, which are incremental product improvements.
• Negative Sentiment: Higher AI capex and negative free cash flow are driving investor concern that spending is outrunning short-term monetization.
• Negative Sentiment: The EU imposed an approximately $1 billion antitrust fine on Google over Search and Play Store practices, adding regulatory pressure.

About Alphabet

Alphabet Inc (NASDAQ: GOOG) is a multinational technology holding company headquartered in Mountain View, California. Formed in 2015 through a corporate restructuring of Google, Alphabet serves as the parent to Google LLC and a portfolio of businesses collectively known as “Other Bets.” Google was originally founded in 1998 by Larry Page and Sergey Brin; Alphabet is led by CEO Sundar Pichai, who oversees Google and the broader company while the founders remain prominent shareholders and influential figures in the company’s history.

Alphabet’s core business centers on internet search and advertising, with Google Search and the company’s ad platforms (including Google Ads and AdSense) generating the majority of revenue by connecting advertisers with consumers worldwide.