Alphabet (NASDAQ:GOOG) Rating Reiterated by Credit Suisse Group
Alphabet (NASDAQ:GOOG)‘s stock had its “buy” rating reaffirmed by stock analysts at Credit Suisse Group in a report released on Friday, Borsen Zeitung reports.
Other equities analysts also recently issued reports about the stock. Cowen increased their price objective on shares of Alphabet from $1,450.00 to $1,525.00 and gave the company an “outperform” rating in a research note on Wednesday, April 29th. BidaskClub upgraded shares of Alphabet from a “hold” rating to a “buy” rating in a research note on Thursday, June 25th. Goldman Sachs Group reiterated a “buy” rating on shares of Alphabet in a research note on Friday. Oppenheimer increased their target price on shares of Alphabet from $1,445.00 to $1,685.00 and gave the company an “outperform” rating in a research report on Friday. Finally, Stifel Nicolaus cut shares of Alphabet from a “buy” rating to a “hold” rating in a research report on Friday. Four analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $1,671.00.
Shares of NASDAQ GOOG traded down $48.49 during midday trading on Friday, reaching $1,482.96. 3,429,036 shares of the company’s stock traded hands, compared to its average volume of 1,408,813. The company has a quick ratio of 3.64, a current ratio of 3.66 and a debt-to-equity ratio of 0.08. The stock’s 50 day simple moving average is $1,474.19 and its 200-day simple moving average is $1,377.20. Alphabet has a one year low of $1,013.54 and a one year high of $1,586.99. The company has a market cap of $1,012.30 billion, a price-to-earnings ratio of 32.61, a P/E/G ratio of 2.27 and a beta of 1.05.
In related news, Director Ann Mather sold 32 shares of the firm’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $1,418.39, for a total transaction of $45,388.48. Following the sale, the director now 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 can be accessed through this link. Also, Director John L. Hennessy sold 60 shares of the firm’s stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $1,363.61, for a total transaction of $81,816.60. Following the sale, the director now owns 592 shares in the company, valued at approximately $807,257.12. The disclosure for this sale can be found here. In the last three months, insiders have sold 212 shares of company stock valued at $303,047. 12.99% of the stock is currently owned by corporate insiders.
Hedge funds have recently added to or reduced their stakes in the stock. Advisor Group Holdings Inc. acquired a new position in shares of Alphabet in the first quarter valued at approximately $73,436,000. Copper Rock Capital Partners LLC grew its holdings in shares of Alphabet by 6,302.5% in the second quarter. Copper Rock Capital Partners LLC now owns 594,344 shares of the information services provider’s stock valued at $798,166,000 after purchasing an additional 585,061 shares in the last quarter. Baupost Group LLC MA acquired a new position in shares of Alphabet in the first quarter valued at approximately $349,424,000. BlackRock Inc. grew its holdings in shares of Alphabet by 1.5% in the first quarter. BlackRock Inc. now owns 20,264,225 shares of the information services provider’s stock valued at $23,563,444,000 after purchasing an additional 295,467 shares in the last quarter. Finally, Capital International Investors grew its holdings in Alphabet by 5.0% during the 1st quarter. Capital International Investors now owns 4,555,880 shares of the information services provider’s stock worth $5,297,617,000 after acquiring an additional 218,823 shares in the last quarter. Institutional investors 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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