Alphabet (NASDAQ:GOOGL – Get Rating) had its price objective lowered by Evercore ISI from $3,500.00 to $3,300.00 in a report published on Wednesday morning, MarketBeat Ratings reports. The brokerage currently has an outperform rating on the information services provider’s stock.
Other equities research analysts have also issued reports about the stock. Susquehanna Bancshares boosted their price objective on shares of Alphabet from $3,600.00 to $3,750.00 and gave the company a positive rating in a report on Wednesday, February 2nd. Wolfe Research cut their price objective on Alphabet from $3,500.00 to $2,900.00 and set an outperform rating on the stock in a report on Wednesday. The Goldman Sachs Group raised their price objective on Alphabet from $3,350.00 to $3,400.00 and gave the stock a buy rating in a research note on Wednesday, February 2nd. BMO Capital Markets dropped their target price on Alphabet from $3,300.00 to $3,000.00 and set an outperform rating on the stock in a research report on Wednesday. Finally, KeyCorp cut their price objective on shares of Alphabet from $3,400.00 to $3,075.00 and set an overweight rating on the stock in a research note on Wednesday, April 20th. Four equities research analysts have rated the stock with a hold rating, thirty-five have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of Buy and a consensus price target of $3,306.23.
NASDAQ GOOGL opened at $2,282.19 on Wednesday. Alphabet has a 52 week low of $2,193.62 and a 52 week high of $3,030.93. The company has a 50 day moving average price of $2,635.35 and a 200 day moving average price of $2,767.76. The company has a quick ratio of 2.91, a current ratio of 2.87 and a debt-to-equity ratio of 0.06. The firm has a market cap of $1.51 trillion, a PE ratio of 20.64, a price-to-earnings-growth ratio of 1.01 and a beta of 1.06.
Alphabet (NASDAQ:GOOGL – Get Rating) last issued its quarterly earnings results on Tuesday, April 26th. The information services provider reported $24.62 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $25.51 by ($0.89). Alphabet had a return on equity of 30.18% and a net margin of 27.57%. During the same period last year, the company earned $26.29 EPS. On average, equities research analysts anticipate that Alphabet will post 112.88 earnings per share for the current fiscal year.
In other Alphabet news, major shareholder 2016 Gp L.L.C. Gv sold 544,249 shares of the company’s stock in a transaction on Monday, April 11th. The stock was sold at an average price of $11.16, for a total transaction of $6,073,818.84. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Brin Sergey sold 2,710 shares of the firm’s stock in a transaction on Wednesday, April 13th. The stock was sold at an average price of $2,600.32, for a total value of $7,046,867.20. Following the transaction, the director now owns 18,571,041 shares of the company’s stock, valued at $48,290,649,333.12. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 549,698 shares of company stock valued at $20,324,689. 13.20% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Norges Bank acquired a new position in Alphabet during the 4th quarter worth $14,477,662,000. Allspring Global Investments Holdings LLC purchased a new position in shares of Alphabet in the 4th quarter valued at about $1,680,864,000. Fortis Advisors LLC grew its position in shares of Alphabet by 149,779.0% during the third quarter. Fortis Advisors LLC now owns 535,068 shares of the information services provider’s stock worth $1,508,000 after buying an additional 534,711 shares in the last quarter. Fundsmith LLP purchased a new stake in shares of Alphabet during the fourth quarter worth approximately $1,214,138,000. Finally, Frisch Financial Group Inc. raised its holdings in Alphabet by 6,039.7% in the third quarter. Frisch Financial Group Inc. now owns 312,631 shares of the information services provider’s stock valued at $12,126,000 after acquiring an additional 307,539 shares in the last quarter. 34.47% of the stock is owned by institutional investors and hedge funds.
Alphabet Company Profile (Get Rating)
Alphabet Inc provides various products and platforms in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment offers products and services, including ads, Android, Chrome, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.
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