Alphabet Inc. (GOOG) Rating Reiterated by Robert W. Baird
Alphabet Inc. (NASDAQ:GOOG)‘s stock had its “outperform” rating reaffirmed by equities research analysts at Robert W. Baird in a research note issued on Saturday. They presently have a $1,100.00 price target on the information services provider’s stock. Robert W. Baird’s price objective would indicate a potential upside of 20.10% from the company’s previous close.
A number of other research firms have also recently weighed in on GOOG. MKM Partners restated a “buy” rating and set a $1,170.00 price objective on shares of Alphabet in a research report on Wednesday, June 28th. Morgan Stanley restated a “buy” rating on shares of Alphabet in a research report on Monday, May 29th. Nomura restated a “buy” rating and set a $985.00 price objective on shares of Alphabet in a research report on Monday, May 1st. Cowen and Company restated an “outperform” rating and set a $1,075.00 price objective on shares of Alphabet in a research report on Thursday, August 10th. Finally, Needham & Company LLC restated a “buy” rating and set a $1,050.00 price objective on shares of Alphabet in a research report on Monday, July 17th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, forty have given 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 $1,030.47.
Alphabet (NASDAQ GOOG) opened at 915.89 on Friday. The company has a 50-day moving average of $934.52 and a 200-day moving average of $896.81. Alphabet has a 1-year low of $727.54 and a 1-year high of $988.25. The stock has a market capitalization of $634.60 billion, a price-to-earnings ratio of 33.19 and a beta of 0.94.
Alphabet (NASDAQ:GOOG) last posted its earnings results on Monday, July 24th. The information services provider reported $5.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.43 by $0.58. Alphabet had a net margin of 19.49% and a return on equity of 13.66%. The firm had revenue of $26.01 billion during the quarter, compared to analysts’ expectations of $25.61 billion. During the same period in the previous year, the business posted $8.42 EPS. The business’s revenue was up 21.0% compared to the same quarter last year. Analysts anticipate that Alphabet will post $30.60 earnings per share for the current fiscal year.
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In related news, CEO Sundar Pichai sold 4,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 7th. The shares were sold at an average price of $981.45, for a total value of $3,925,800.00. Following the sale, the chief executive officer now owns 2,058 shares of the company’s stock, valued at $2,019,824.10. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP James Grier Campbell sold 183 shares of the firm’s stock in a transaction that occurred on Thursday, June 1st. The shares were sold at an average price of $968.95, for a total transaction of $177,317.85. The disclosure for this sale can be found here. In the last ninety days, insiders sold 47,169 shares of company stock worth $44,206,482. 13.92% of the stock is owned by corporate insiders.
A number of hedge funds have recently added to or reduced their stakes in GOOG. Adviser Investments LLC bought a new stake in Alphabet during the first quarter worth $1,276,000. Farmers & Merchants Investments Inc. boosted its stake in Alphabet by 0.3% in the first quarter. Farmers & Merchants Investments Inc. now owns 5,464 shares of the information services provider’s stock worth $4,533,000 after buying an additional 18 shares during the last quarter. Doyle Wealth Management boosted its stake in Alphabet by 6.7% in the second quarter. Doyle Wealth Management now owns 3,182 shares of the information services provider’s stock worth $2,891,000 after buying an additional 200 shares during the last quarter. Hartford Investment Management Co. boosted its stake in Alphabet by 6.1% in the first quarter. Hartford Investment Management Co. now owns 79,529 shares of the information services provider’s stock worth $65,974,000 after buying an additional 4,602 shares during the last quarter. Finally, Financial Consulate Inc. bought a new stake in Alphabet during the first quarter worth $215,000. 34.54% of the stock is currently owned by institutional investors.
Alphabet Inc is a holding company. The Company’s businesses include Google Inc (Google) and its Internet products, such as Access, Calico, CapitalG, GV, Nest, Verily, Waymo and X. The Company’s segments include Google and Other Bets. The Google segment includes its Internet products, such as Search, Ads, Commerce, Maps, YouTube, Google Cloud, Android, Chrome and Google Play, as well as its hardware initiatives.
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