GOOG has been the topic of a number of other reports. Citigroup Inc. reaffirmed a buy rating and issued a $900.00 target price on shares of Alphabet in a report on Saturday, June 18th. Stifel Nicolaus reaffirmed a buy rating and issued a $925.00 target price (up from $888.00) on shares of Alphabet in a report on Friday, July 29th. Longbow Research began coverage on shares of Alphabet in a report on Wednesday, July 6th. They issued a buy rating on the stock. Macquarie reaffirmed an outperform rating and issued a $975.00 target price on shares of Alphabet in a report on Friday, July 29th. Finally, Goldman Sachs Group Inc. set a $810.00 target price on shares of Alphabet and gave the company a buy rating in a report on Wednesday, July 20th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, forty-five have assigned a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of Buy and a consensus price target of $923.68.
Shares of Alphabet (NASDAQ:GOOG) opened at 781.56 on Friday. The stock has a market cap of $537.15 billion, a PE ratio of 30.28 and a beta of 1.03. The stock has a 50 day moving average of $774.28 and a 200 day moving average of $738.30. Alphabet has a 12 month low of $599.85 and a 12 month high of $789.87.
Alphabet (NASDAQ:GOOG) last issued its quarterly earnings data on Thursday, July 28th. The company reported $8.42 earnings per share for the quarter, topping the consensus estimate of $8.03 by $0.39. The business earned $21.50 billion during the quarter, compared to the consensus estimate of $20.74 billion. Alphabet had a net margin of 22.00% and a return on equity of 14.74%. The company’s revenue was up 21.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $6.99 EPS. On average, equities analysts anticipate that Alphabet will post $34.30 earnings per share for the current fiscal year.
In other Alphabet news, major shareholder Sergey Brin sold 33,340 shares of the stock in a transaction on Friday, July 1st. The stock was sold at an average price of $704.24, for a total value of $23,479,361.60. Following the sale, the insider now directly owns 16,670 shares of the company’s stock, valued at $11,739,680.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Sundar Pichai sold 4,000 shares of the stock in a transaction on Wednesday, July 6th. The stock was sold at an average price of $690.94, for a total value of $2,763,760.00. Following the completion of the sale, the chief executive officer now directly owns 3,672 shares in the company, valued at $2,537,131.68. The disclosure for this sale can be found here. Corporate insiders own 13.92% of the company’s stock.
Large investors have recently modified their holdings of the company. Mesirow Financial Investment Management Equity Management bought a new stake in shares of Alphabet during the second quarter valued at $121,000. Whitnell & Co. raised its position in shares of Alphabet by 20.6% in the second quarter. Whitnell & Co. now owns 187 shares of the company’s stock worth $129,000 after buying an additional 32 shares during the period. D. Scott Neal Inc. raised its position in shares of Alphabet by 2,000.0% in the second quarter. D. Scott Neal Inc. now owns 210 shares of the company’s stock worth $145,000 after buying an additional 200 shares during the period. Pathstone Family Office LLC raised its position in shares of Alphabet by 7.2% in the second quarter. Pathstone Family Office LLC now owns 222 shares of the company’s stock worth $154,000 after buying an additional 15 shares during the period. Finally, Cacti Asset Management LLC acquired a new position in shares of Alphabet during the second quarter worth approximately $159,000. 34.39% of the stock is currently owned by hedge funds and other institutional investors.
Alphabet Company Profile
Alphabet Inc is a holding company. The Company holds interests in Google Inc (Google). The Company’s segments include Google and Other Bets. Google segment includes Internet products, such as Search, Ads, Commerce, Maps, YouTube, Apps, Cloud, Android, Chrome, Google Play, and hardware products, including Chromecast, Chromebooks and Nexus, which are sold by the Company.
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