Alphabet (NASDAQ:GOOG) Earns Buy Rating from Goldman Sachs Group

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Alphabet (NASDAQ:GOOG)‘s stock had its “buy” rating reissued by analysts at Goldman Sachs Group in a research note issued to investors on Friday, Borsen Zeitung reports.

Several other brokerages have also recently issued reports on GOOG. Pivotal Research began coverage on SRC Energy in a report on Wednesday, May 29th. They issued a “buy” rating and a $37.29 target price for the company. Wedbush restated an “outperform” rating on shares of Alphabet in a report on Thursday, April 25th. UBS Group restated a “hold” rating and issued a $130.00 target price on shares of Continental in a report on Wednesday, May 15th. Barclays restated a “buy” rating on shares of Alphabet in a report on Tuesday, April 30th. Finally, JPMorgan Chase & Co. upped their target price on Weight Watchers International from $12.00 to $14.00 and gave the company an “underweight” rating in a report on Tuesday, April 30th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and twenty-six have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $1,361.50.

Shares of NASDAQ:GOOG opened at $1,144.90 on Friday. The company has a current ratio of 3.96, a quick ratio of 3.93 and a debt-to-equity ratio of 0.02. The company has a fifty day moving average of $1,101.28. The stock has a market cap of $794.36 billion, a PE ratio of 24.10, a P/E/G ratio of 1.35 and a beta of 0.95. Alphabet has a 52-week low of $970.11 and a 52-week high of $1,289.27.

Alphabet (NASDAQ:GOOG) last issued its earnings results on Monday, April 29th. The information services provider reported $11.90 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $10.51 by $1.39. The company had revenue of $36.34 billion during the quarter, compared to analysts’ expectations of $37.36 billion. Alphabet had a return on equity of 20.06% and a net margin of 19.71%. The firm’s quarterly revenue was up 16.7% on a year-over-year basis. During the same period in the prior year, the business earned $9.93 EPS. Analysts predict that Alphabet will post 48.44 EPS for the current year.

In other news, Director John L. Hennessy sold 75 shares of the company’s stock in a transaction on Monday, April 29th. The stock was sold at an average price of $1,280.51, for a total value of $96,038.25. Following the transaction, the director now owns 159 shares of the company’s stock, valued at approximately $203,601.09. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Ann Mather sold 39 shares of the company’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $1,187.53, for a total value of $46,313.67. Following the completion of the transaction, the director now directly owns 1,797 shares in the company, valued at approximately $2,133,991.41. The disclosure for this sale can be found here. In the last ninety days, insiders sold 403 shares of company stock worth $461,293. Corporate insiders own 12.99% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of GOOG. Oregon Public Employees Retirement Fund lifted its stake in Alphabet by 102,010.9% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 56,224,303 shares of the information services provider’s stock worth $54,000 after acquiring an additional 56,169,241 shares in the last quarter. Lunia Capital LP lifted its stake in Alphabet by 135,522.5% during the 4th quarter. Lunia Capital LP now owns 16,870,086 shares of the information services provider’s stock worth $16,870,000 after acquiring an additional 16,857,647 shares in the last quarter. Nordea Investment Management AB lifted its stake in Alphabet by 129.3% during the 4th quarter. Nordea Investment Management AB now owns 723,309 shares of the information services provider’s stock worth $755,828,000 after acquiring an additional 407,812 shares in the last quarter. Royal London Asset Management Ltd. acquired a new position in Alphabet during the 4th quarter worth about $156,159,000. Finally, California Public Employees Retirement System lifted its stake in Alphabet by 68.1% during the 4th quarter. California Public Employees Retirement System now owns 362,987 shares of the information services provider’s stock worth $375,913,000 after acquiring an additional 147,043 shares in the last quarter. 33.95% of the stock is currently owned by hedge funds and other institutional investors.

About Alphabet

Alphabet Inc provides online advertising services in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It offers performance and brand advertising services. The company operates through Google and Other Bets segments. The Google segment offers products, such as Ads, Android, Chrome, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure.

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Analyst Recommendations for Alphabet (NASDAQ:GOOG)

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