Other research analysts have also issued research reports about the company. Societe Generale set a $910.00 price objective on Alphabet and gave the company a buy rating in a report on Thursday, July 7th. Longbow Research started coverage on Alphabet in a report on Wednesday, July 6th. They issued a buy rating on the stock. Axiom Securities restated a buy rating and issued a $970.00 price objective (down previously from $1,001.00) on shares of Alphabet in a report on Wednesday, June 29th. Goldman Sachs Group Inc. restated a buy rating and issued a $810.00 price objective (down previously from $850.00) on shares of Alphabet in a report on Wednesday, June 29th. Finally, Vetr lowered Alphabet from a strong-buy rating to a buy rating and set a $770.61 price objective on the stock. in a report on Tuesday, June 21st. 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 assigned a strong buy rating to the company. The stock presently has an average rating of Buy and a consensus price target of $926.55.
Shares of Alphabet (NASDAQ:GOOG) traded up 0.47% during midday trading on Wednesday, reaching $780.14. 415,004 shares of the company traded hands. The stock has a 50 day moving average price of $773.30 and a 200 day moving average price of $739.79. Alphabet has a 1-year low of $625.56 and a 1-year high of $789.87. The firm has a market capitalization of $536.17 billion, a PE ratio of 30.23 and a beta of 1.03.
Alphabet (NASDAQ:GOOG) last announced its earnings results on Thursday, July 28th. The company reported $8.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.03 by $0.39. Alphabet had a return on equity of 14.74% and a net margin of 22.00%. The firm had revenue of $21.50 billion for the quarter, compared to analyst estimates of $20.74 billion. During the same quarter last year, the firm posted $6.99 EPS. The business’s revenue was up 21.3% on a year-over-year basis. Analysts expect that Alphabet will post $34.30 earnings per share for the current fiscal year.
In other Alphabet news, CEO Sundar Pichai sold 4,000 shares of the company’s stock in a transaction dated Wednesday, July 20th. The stock was sold at an average price of $739.21, for a total transaction of $2,956,840.00. Following the completion of the sale, the chief executive officer now directly owns 3,297 shares in the company, valued at $2,437,175.37. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Lawrence Page sold 33,340 shares of the company’s stock in a transaction dated Friday, September 23rd. The stock was sold at an average price of $800.75, for a total value of $26,697,005.00. Following the sale, the chief executive officer now owns 105,670 shares of the company’s stock, valued at $84,615,252.50. The disclosure for this sale can be found here. Corporate insiders own 13.92% of the company’s stock.
A number of large investors have recently made changes to their positions in the company. Mesirow Financial Investment Management Equity Management purchased a new stake in shares of Alphabet during the second quarter valued at approximately $121,000. Whitnell & Co. raised its stake in 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 stake in 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 stake in 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 bought a new stake in Alphabet during the second quarter worth about $159,000. Institutional investors own 34.39% of the company’s stock.
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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