Oppenheimer Raises Alphabet (NASDAQ:GOOG) Price Target to $1,685.00
Alphabet (NASDAQ:GOOG) had its price target hoisted by equities researchers at Oppenheimer from $1,445.00 to $1,685.00 in a research report issued to clients and investors on Friday, The Fly reports. The brokerage presently has an “outperform” rating on the information services provider’s stock. Oppenheimer’s price objective suggests a potential upside of 13.62% from the stock’s current price.
Other equities analysts also recently issued reports about the company. Stifel Nicolaus downgraded Alphabet from a “buy” rating to a “hold” rating in a research report on Friday. Credit Suisse Group restated a “buy” rating on shares of Alphabet in a research report on Monday, July 20th. Goldman Sachs Group reiterated a “buy” rating on shares of Alphabet in a research report on Friday. BidaskClub upgraded shares of Alphabet from a “hold” rating to a “buy” rating in a report on Thursday, June 25th. Finally, Barclays increased their price target on Alphabet from $1,600.00 to $1,800.00 and gave the stock an “overweight” rating in a report on Friday. Four research 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 company’s stock. Alphabet has a consensus rating of “Buy” and a consensus price target of $1,671.00.
NASDAQ:GOOG opened at $1,482.96 on Friday. The stock’s 50-day moving average is $1,474.19 and its 200-day moving average is $1,377.20. The stock has a market cap of $1,012.30 billion, a P/E ratio of 32.61, a price-to-earnings-growth ratio of 2.27 and a beta of 1.05. Alphabet has a 1-year low of $1,013.54 and a 1-year high of $1,586.99. The company has a current ratio of 3.66, a quick ratio of 3.64 and a debt-to-equity ratio of 0.08.
In related news, Director John L. Hennessy sold 60 shares of the company’s stock in a transaction on Friday, June 5th. The stock was sold at an average price of $1,434.85, for a total transaction of $86,091.00. Following the completion of the sale, the director now owns 629 shares in the company, valued at $902,520.65. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Ann Mather sold 32 shares of the stock in a transaction on Monday, June 1st. The shares were sold at an average price of $1,418.39, for a total value of $45,388.48. Following the completion of the sale, the director now directly owns 1,119 shares of the company’s stock, valued at $1,587,178.41. The disclosure for this sale can be found here. Insiders sold 212 shares of company stock worth $303,047 over the last ninety days. Insiders own 12.99% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of GOOG. Campbell Wealth Management purchased a new position in Alphabet during the second quarter worth about $41,000. Prestige Wealth Management Group LLC boosted its stake in shares of Alphabet by 1,700.0% in the 1st quarter. Prestige Wealth Management Group LLC now owns 36 shares of the information services provider’s stock worth $42,000 after buying an additional 34 shares during the last quarter. Cordasco Financial Network grew its holdings in shares of Alphabet by 32.1% in the first quarter. Cordasco Financial Network now owns 37 shares of the information services provider’s stock valued at $43,000 after acquiring an additional 9 shares in the last quarter. New England Investment & Retirement Group Inc. purchased a new stake in shares of Alphabet during the first quarter valued at approximately $44,000. Finally, Paragon Capital Management LLC bought a new stake in Alphabet during the first quarter worth $47,000. Hedge funds and other institutional investors own 32.91% of the company’s stock.
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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