Alphabet’s (GOOG) “Buy” Rating Reaffirmed at Credit Suisse Group

Credit Suisse Group reaffirmed their buy rating on shares of Alphabet (NASDAQ:GOOG) in a research report report published on Friday morning, Borsen Zeitung reports.

A number of other brokerages have also recently weighed in on GOOG. Mizuho upped their price objective on shares of Alphabet from $1,650.00 to $1,750.00 and gave the stock a buy rating in a report on Tuesday, July 21st. UBS Group upped their price target on Alphabet from $1,530.00 to $1,600.00 and gave the stock a buy rating in a research note on Wednesday, April 29th. JPMorgan Chase & Co. lifted their price objective on Alphabet from $1,505.00 to $1,700.00 and gave the company an overweight rating in a research note on Wednesday, July 15th. Pivotal Research boosted their target price on Alphabet from $1,575.00 to $1,725.00 and gave the stock a buy rating in a report on Friday. Finally, Deutsche Bank raised their price target on Alphabet from $1,700.00 to $1,975.00 and gave the company a buy rating in a report on Tuesday. Four research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of Buy and an average price target of $1,671.00.

Shares of NASDAQ GOOG traded down $48.49 during mid-day trading on Friday, hitting $1,482.96. 3,429,036 shares of the stock traded hands, compared to its average volume of 1,408,813. The company has a market cap of $1,012.30 billion, a price-to-earnings ratio of 32.61, a PEG ratio of 2.34 and a beta of 1.05. The stock has a fifty day moving average price of $1,474.19 and a 200-day moving average price of $1,377.20. Alphabet has a 52 week low of $1,013.54 and a 52 week high of $1,586.99. The company has a debt-to-equity ratio of 0.08, a quick ratio of 3.64 and a current ratio of 3.66.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data on Thursday, July 30th. The information services provider reported $10.13 EPS for the quarter, beating the consensus estimate of $8.43 by $1.70. The business had revenue of $31.60 billion during the quarter, compared to analyst estimates of $30.58 billion. Alphabet had a return on equity of 15.77% and a net margin of 18.99%. As a group, sell-side analysts predict that Alphabet will post 42.07 EPS for the current fiscal year.

In other Alphabet news, Director Ann Mather sold 32 shares of the company’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $1,418.39, for a total value of $45,388.48. Following the completion of the transaction, the director now directly owns 1,119 shares in the company, valued at $1,587,178.41. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director John L. Hennessy sold 60 shares of the stock in a transaction on Tuesday, May 5th. The stock was 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 $807,257.12. The disclosure for this sale can be found here. Insiders sold 212 shares of company stock worth $303,047 in the last ninety days. Corporate insiders own 12.99% of the company’s stock.

A number of hedge funds have recently modified their holdings of GOOG. Campbell Wealth Management purchased a new stake in shares of Alphabet during the second quarter worth about $41,000. Prestige Wealth Management Group LLC grew its holdings in Alphabet by 1,700.0% during the 1st quarter. Prestige Wealth Management Group LLC now owns 36 shares of the information services provider’s stock valued at $42,000 after buying an additional 34 shares in the last quarter. Cordasco Financial Network raised its position in shares of Alphabet by 32.1% during the first quarter. Cordasco Financial Network now owns 37 shares of the information services provider’s stock valued at $43,000 after buying an additional 9 shares during the last quarter. New England Investment & Retirement Group Inc. bought a new stake in shares of Alphabet during the first quarter valued at approximately $44,000. Finally, Paragon Capital Management LLC purchased a new position in shares of Alphabet in the first quarter worth $47,000. Institutional investors and hedge funds own 32.91% of the company’s stock.

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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