Alphabet (NASDAQ:GOOG)‘s stock had its “buy” rating restated by investment analysts at Morgan Stanley in a research report issued on Tuesday.
A number of other equities research analysts have also recently weighed in on the stock. Vetr cut shares of Alphabet from a “sell” rating to a “strong sell” rating and set a $949.65 price target for the company. in a research report on Wednesday, January 10th. Morningstar reiterated a “neutral” rating on shares of Alphabet in a research report on Friday, January 19th. SunTrust Banks lifted their price target on shares of Alphabet to $1,250.00 and gave the company a “buy” rating in a research report on Friday, January 12th. Atlantic Securities reiterated a “buy” rating on shares of Alphabet in a research report on Friday, February 2nd. Finally, UBS Group reiterated a “buy” rating on shares of Alphabet in a research report on Thursday, January 11th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and thirty-six have assigned a buy rating to the stock. Alphabet presently has an average rating of “Buy” and a consensus target price of $1,064.49.
Alphabet (NASDAQ GOOG) traded up $16.96 during trading on Tuesday, reaching $1,143.75. 1,559,000 shares of the company traded hands, compared to its average volume of 1,731,418. Alphabet has a 52-week low of $803.37 and a 52-week high of $1,186.89. The firm has a market capitalization of $787,290.00, a PE ratio of 35.63 and a beta of 1.01. The company has a current ratio of 5.14, a quick ratio of 5.11 and a debt-to-equity ratio of 0.03.
Alphabet declared that its Board of Directors has initiated a share repurchase program on Thursday, February 1st that permits the company to repurchase $8.59 billion in shares. This repurchase authorization permits the information services provider to reacquire shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s leadership believes its shares are undervalued.
In other news, VP James Grier Campbell sold 183 shares of the business’s stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $1,048.34, for a total transaction of $191,846.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Ann Mather sold 38 shares of the business’s stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $1,015.80, for a total transaction of $38,600.40. Following the sale, the director now owns 1,813 shares of the company’s stock, valued at approximately $1,841,645.40. The disclosure for this sale can be found here. Insiders have sold a total of 43,010 shares of company stock valued at $45,958,216 in the last 90 days. Insiders own 13.92% of the company’s stock.
Large investors have recently modified their holdings of the company. Stuart Chaussee & Associates Inc. increased its holdings in shares of Alphabet by 108.3% in the 4th quarter. Stuart Chaussee & Associates Inc. now owns 100 shares of the information services provider’s stock valued at $105,000 after acquiring an additional 52 shares during the period. Burt Wealth Advisors increased its holdings in shares of Alphabet by 17.2% in the 2nd quarter. Burt Wealth Advisors now owns 136 shares of the information services provider’s stock valued at $123,000 after acquiring an additional 20 shares during the period. Signature Estate & Investment Advisors LLC increased its holdings in shares of Alphabet by 3.8% in the 2nd quarter. Signature Estate & Investment Advisors LLC now owns 137 shares of the information services provider’s stock valued at $124,000 after acquiring an additional 5 shares during the period. Price Wealth Management Inc. acquired a new position in shares of Alphabet in the 4th quarter valued at $125,000. Finally, Archford Capital Strategies LLC increased its holdings in shares of Alphabet by 400.0% in the 2nd quarter. Archford Capital Strategies LLC now owns 1,040 shares of the information services provider’s stock valued at $139,000 after acquiring an additional 832 shares during the period. Institutional investors and hedge funds own 34.34% of the company’s stock.
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Alphabet Company Profile
Alphabet Inc is a holding company. The Company’s businesses include Google Inc (Google) and its Internet products, such as Access, Calico, CapitalG, GV, Nest, Verily, Waymo and X. The Company’s segments include Google and Other Bets. The Google segment includes its Internet products, such as Search, Ads, Commerce, Maps, YouTube, Google Cloud, Android, Chrome and Google Play, as well as its hardware initiatives.
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