Alphabet Inc (NASDAQ:GOOG) Receives Average Rating of “Buy” from Analysts

Shares of Alphabet Inc (NASDAQ:GOOG) have been assigned an average recommendation of “Buy” from the thirty-three analysts that are covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation, twenty-seven have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $1,584.75.

A number of analysts have issued reports on the company. Jefferies Financial Group reissued a “buy” rating on shares of Alphabet in a research report on Tuesday, April 28th. JPMorgan Chase & Co. boosted their target price on Alphabet from $1,340.00 to $1,505.00 and gave the company an “overweight” rating in a research report on Wednesday, April 29th. UBS Group boosted their target price on Alphabet from $1,530.00 to $1,600.00 and gave the company a “buy” rating in a research report on Wednesday, April 29th. ValuEngine raised Alphabet from a “sell” rating to a “hold” rating in a research report on Thursday, March 5th. Finally, Oppenheimer cut their price objective on Alphabet from $1,465.00 to $1,445.00 and set an “outperform” rating on the stock in a research report on Friday, April 17th.

In other Alphabet news, CAO Amie Thuener O’toole sold 61 shares of the company’s stock in a transaction on Thursday, April 2nd. The shares were sold at an average price of $1,098.26, for a total value of $66,993.86. Following the completion of the transaction, the chief accounting officer now owns 388 shares in the company, valued at $426,124.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Ann Mather sold 34 shares of the stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $1,121.18, for a total transaction of $38,120.12. Following the sale, the director now owns 1,119 shares of the company’s stock, valued at approximately $1,254,600.42. The disclosure for this sale can be found here. Insiders sold 322 shares of company stock valued at $410,071 in the last 90 days. 12.99% of the stock is currently owned by insiders.

Several institutional investors and hedge funds have recently made changes to their positions in the company. BlackRock Inc. grew its position in shares of Alphabet by 1.5% in the first quarter. BlackRock Inc. now owns 20,264,225 shares of the information services provider’s stock valued at $23,563,444,000 after purchasing an additional 295,467 shares during the last quarter. State Street Corp raised its stake in shares of Alphabet by 0.8% in the 1st quarter. State Street Corp now owns 11,814,026 shares of the information services provider’s stock valued at $13,737,468,000 after acquiring an additional 98,084 shares during the period. Capital International Investors raised its stake in shares of Alphabet by 5.0% in the 1st quarter. Capital International Investors now owns 4,555,880 shares of the information services provider’s stock valued at $5,297,617,000 after acquiring an additional 218,823 shares during the period. Geode Capital Management LLC raised its stake in shares of Alphabet by 3.5% in the 1st quarter. Geode Capital Management LLC now owns 4,403,934 shares of the information services provider’s stock valued at $5,110,389,000 after acquiring an additional 149,012 shares during the period. Finally, JPMorgan Chase & Co. increased its stake in Alphabet by 0.6% during the 1st quarter. JPMorgan Chase & Co. now owns 3,707,376 shares of the information services provider’s stock worth $4,310,974,000 after buying an additional 22,951 shares during the period. Institutional investors and hedge funds own 33.00% of the company’s stock.

Shares of GOOG stock traded up $9.34 during trading on Monday, hitting $1,413.18. 1,916,577 shares of the stock traded hands, compared to its average volume of 1,487,102. The firm has a market capitalization of $958.29 billion, a P/E ratio of 28.52, a price-to-earnings-growth ratio of 2.10 and a beta of 1.06. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.66 and a quick ratio of 3.64. The firm’s fifty day moving average price is $1,378.18 and its 200-day moving average price is $1,344.94. Alphabet has a 52-week low of $1,013.54 and a 52-week high of $1,532.11.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings results on Tuesday, April 28th. The information services provider reported $9.87 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $11.27 by ($1.40). The firm had revenue of $41.16 billion for the quarter, compared to analysts’ expectations of $40.29 billion. Alphabet had a net margin of 20.71% and a return on equity of 17.43%. The firm’s quarterly revenue was up 13.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $9.50 EPS. As a group, equities research analysts expect that Alphabet will post 41.47 earnings per share for the current year.

Alphabet Company Profile

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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