Alphabet (NASDAQ:GOOG) Given Buy Rating at Goldman Sachs Group

Goldman Sachs Group reissued their buy rating on shares of Alphabet (NASDAQ:GOOG) in a report published on Friday morning, Borsen Zeitung reports.

GOOG has been the topic of a number of other research reports. Oppenheimer decreased their price objective on Alphabet from $1,465.00 to $1,445.00 and set an outperform rating on the stock in a research note on Friday, April 17th. Deutsche Bank upped their price target on shares of Alphabet from $1,700.00 to $1,975.00 and gave the stock a buy rating in a research report on Tuesday. Susquehanna Bancshares upped their price target on shares of Alphabet from $1,550.00 to $1,800.00 in a research report on Wednesday, April 29th. UBS Group upped their price target on shares of Alphabet from $1,530.00 to $1,600.00 and gave the stock a buy rating in a research report on Wednesday, April 29th. Finally, Jefferies Financial Group reaffirmed a buy rating on shares of Alphabet in a research report on Tuesday, April 28th. Four analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of Buy and an average target price of $1,671.00.

Shares of GOOG stock traded down $48.49 during mid-day trading on Friday, reaching $1,482.96. The stock had a trading volume of 3,429,036 shares, compared to its average volume of 1,408,813. Alphabet has a 12-month low of $1,013.54 and a 12-month high of $1,586.99. The company has a market cap of $1,012.30 billion, a P/E ratio of 32.61, a price-to-earnings-growth ratio of 2.34 and a beta of 1.05. The business has a 50-day simple moving average of $1,474.19 and a 200 day simple moving average of $1,377.20. The company has a current ratio of 3.66, a quick ratio of 3.64 and a debt-to-equity ratio of 0.08.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Thursday, July 30th. The information services provider reported $10.13 earnings per share for the quarter, beating analysts’ consensus estimates of $8.43 by $1.70. Alphabet had a return on equity of 15.77% and a net margin of 18.99%. The business had revenue of $31.60 billion during the quarter, compared to analysts’ expectations of $30.58 billion. Research analysts anticipate that Alphabet will post 42.07 EPS for the current year.

In related news, Director John L. Hennessy sold 60 shares of the firm’s stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $1,363.61, for a total transaction of $81,816.60. Following the completion of the sale, the director now directly owns 592 shares of the company’s stock, valued at approximately $807,257.12. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Ann Mather sold 32 shares of the firm’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $1,418.39, for a total transaction of $45,388.48. Following the sale, the director now directly owns 1,119 shares of the company’s stock, valued at $1,587,178.41. The disclosure for this sale can be found here. Insiders sold 212 shares of company stock valued at $303,047 in the last three months. Company insiders own 12.99% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in GOOG. Sunbelt Securities Inc. boosted its stake in Alphabet by 2.3% during the 4th quarter. Sunbelt Securities Inc. now owns 2,714 shares of the information services provider’s stock valued at $3,599,000 after acquiring an additional 61 shares during the last quarter. Stillwater Investment Management LLC boosted its stake in Alphabet by 4.0% during the 1st quarter. Stillwater Investment Management LLC now owns 1,383 shares of the information services provider’s stock valued at $1,608,000 after acquiring an additional 53 shares during the last quarter. IMS Capital Management boosted its stake in Alphabet by 17.8% during the 1st quarter. IMS Capital Management now owns 945 shares of the information services provider’s stock valued at $1,099,000 after acquiring an additional 143 shares during the last quarter. Foundations Investment Advisors LLC boosted its stake in Alphabet by 5.5% during the 1st quarter. Foundations Investment Advisors LLC now owns 668 shares of the information services provider’s stock valued at $739,000 after acquiring an additional 35 shares during the last quarter. Finally, Chemung Canal Trust Co. boosted its stake in Alphabet by 11.4% during the 1st quarter. Chemung Canal Trust Co. now owns 3,426 shares of the information services provider’s stock valued at $3,984,000 after acquiring an additional 351 shares during the last quarter. 32.91% of the stock is owned by institutional investors and hedge funds.

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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