Alphabet’s (GOOG) “Buy” Rating Reaffirmed at Cantor Fitzgerald

Cantor Fitzgerald restated their buy rating on shares of Alphabet Inc. (NASDAQ:GOOG) in a research note published on Sunday morning. Cantor Fitzgerald currently has a $1,040.00 target price on the stock.

Several other analysts have also weighed in on the company. Vetr raised Alphabet from a buy rating to a strong-buy rating and set a $852.63 target price on the stock in a report on Wednesday. Robert W. Baird reissued an outperform rating and issued a $930.00 target price on shares of Alphabet in a report on Monday, November 7th. RBC Capital Markets reissued an outperform rating and issued a $1,025.00 target price on shares of Alphabet in a report on Thursday, November 3rd. Raymond James Financial Inc. reissued an outperform rating and issued a $920.00 target price (up previously from $900.00) on shares of Alphabet in a report on Sunday, October 30th. Finally, Monness Crespi & Hardt reissued a buy rating and issued a $900.00 target price on shares of Alphabet in a report on Saturday, October 29th. One analyst has rated the stock with a sell rating, three have issued a hold rating, forty-three have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of Buy and an average price target of $940.55.

Analyst Recommendations for Alphabet (NASDAQ:GOOG)

Shares of Alphabet (NASDAQ:GOOG) opened at 750.50 on Friday. The firm has a market capitalization of $517.27 billion, a P/E ratio of 27.47 and a beta of 0.95. The company’s 50 day moving average price is $778.59 and its 200-day moving average price is $752.66. Alphabet has a 12 month low of $663.06 and a 12 month high of $816.68.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data on Thursday, October 27th. The company reported $9.06 earnings per share for the quarter, topping the Zacks’ consensus estimate of $8.62 by $0.44. Alphabet had a return on equity of 15.08% and a net margin of 22.29%. The firm had revenue of $22.45 billion for the quarter, compared to analyst estimates of $13.17 billion. During the same quarter in the prior year, the company posted $7.35 earnings per share. Alphabet’s quarterly revenue was up 20.2% on a year-over-year basis. On average, equities analysts predict that Alphabet will post $34.44 earnings per share for the current fiscal year.

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In other news, SVP David C. Drummond sold 2,000 shares of Alphabet stock in a transaction on Monday, November 14th. The stock was sold at an average price of $763.68, for a total transaction of $1,527,360.00. Following the transaction, the senior vice president now directly owns 9,748 shares in the company, valued at approximately $7,444,352.64. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Ann Mather sold 44 shares of Alphabet stock in a transaction on Monday, October 3rd. The shares were sold at an average price of $779.40, for a total value of $34,293.60. Following the transaction, the director now owns 1,656 shares in the company, valued at $1,290,686.40. The disclosure for this sale can be found here. 13.92% of the stock is owned by corporate insiders.

Several institutional investors have recently modified their holdings of GOOG. Lakeview Capital Partners LLC boosted its position in shares of Alphabet by 0.3% in the second quarter. Lakeview Capital Partners LLC now owns 327 shares of the company’s stock valued at $226,000 after buying an additional 1 shares during the period. Shufro Rose & Co. LLC boosted its position in shares of Alphabet by 0.6% in the second quarter. Shufro Rose & Co. LLC now owns 357 shares of the company’s stock valued at $247,000 after buying an additional 2 shares during the period. Alpha Windward LLC boosted its position in shares of Alphabet by 0.9% in the third quarter. Alpha Windward LLC now owns 222 shares of the company’s stock valued at $173,000 after buying an additional 2 shares during the period. 1st Global Advisors Inc. boosted its position in shares of Alphabet by 0.5% in the second quarter. 1st Global Advisors Inc. now owns 658 shares of the company’s stock valued at $455,000 after buying an additional 3 shares during the period. Finally, Tradewinds Capital Management LLC boosted its position in shares of Alphabet by 0.7% in the second quarter. Tradewinds Capital Management LLC now owns 420 shares of the company’s stock valued at $291,000 after buying an additional 3 shares during the period. Institutional investors own 34.27% of the company’s stock.

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.

5 Day Chart for NASDAQ:GOOG

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