Alphabet Inc (NASDAQ:GOOG) was downgraded by BMO Capital Markets from an “outperform” rating to a “market perform” rating in a report issued on Thursday. They currently have a $880.00 price target on the information services provider’s stock, down from their prior price target of $1,005.00. BMO Capital Markets’ target price suggests a potential upside of 4.37% from the company’s current price.
A number of other research analysts have also weighed in on the stock. Citigroup Inc lifted their price target on shares of Alphabet from $910.00 to $975.00 and gave the company a “buy” rating in a research note on Tuesday, January 3rd. Cowen and Company lifted their price target on shares of Alphabet from $1,000.00 to $1,050.00 and gave the company an “outperform” rating in a research note on Tuesday, January 10th. Pacific Crest initiated coverage on shares of Alphabet in a research note on Friday, January 20th. They issued an “overweight” rating on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $1,040.00 price target on shares of Alphabet in a research note on Monday, March 13th. Finally, JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of Alphabet in a research note on Wednesday, January 18th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and forty-two have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $956.36.
Shares of Alphabet (NASDAQ:GOOG) traded up 0.18% during mid-day trading on Thursday, hitting $843.19. 1,323,469 shares of the stock traded hands. Alphabet has a 52 week low of $663.28 and a 52 week high of $853.50. The company has a market cap of $583.00 billion, a price-to-earnings ratio of 30.25 and a beta of 0.94. The stock has a 50-day moving average of $833.03 and a 200-day moving average of $802.56.
Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Thursday, January 26th. The information services provider reported $9.36 earnings per share for the quarter, missing the consensus estimate of $9.67 by $0.31. Alphabet had a return on equity of 14.85% and a net margin of 21.58%. The firm had revenue of $26.04 billion for the quarter, compared to the consensus estimate of $25.18 billion. During the same period in the previous year, the business earned $8.67 EPS. The firm’s revenue was up 22.2% compared to the same quarter last year. Analysts anticipate that Alphabet will post $33.26 EPS for the current year.
In other Alphabet news, CEO Sundar Pichai sold 4,000 shares of the stock in a transaction that occurred on Wednesday, April 19th. The stock was sold at an average price of $841.50, for a total transaction of $3,366,000.00. Following the transaction, the chief executive officer now directly owns 1,976 shares in the company, valued at approximately $1,662,804. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP James Grier Campbell sold 253 shares of the stock in a transaction that occurred on Wednesday, February 1st. The stock was sold at an average price of $799.86, for a total value of $202,364.58. The disclosure for this sale can be found here. Insiders have sold a total of 281,688 shares of company stock valued at $229,255,327 in the last three months. Insiders own 13.92% of the company’s stock.
Several institutional investors have recently bought and sold shares of the company. Carmignac Gestion boosted its position in shares of Alphabet by 0.9% in the third quarter. Carmignac Gestion now owns 457,186 shares of the information services provider’s stock worth $355,366,000 after buying an additional 4,300 shares in the last quarter. Shepherd Financial Partners LLC purchased a new position in shares of Alphabet during the fourth quarter worth about $3,291,000. Lyell Wealth Management LP purchased a new position in shares of Alphabet during the fourth quarter worth about $2,134,000. First Trust Advisors LP boosted its position in shares of Alphabet by 8.3% in the third quarter. First Trust Advisors LP now owns 248,173 shares of the information services provider’s stock worth $192,902,000 after buying an additional 18,978 shares in the last quarter. Finally, Professional Advisory Services Inc. boosted its position in shares of Alphabet by 2.3% in the third quarter. Professional Advisory Services Inc. now owns 20,350 shares of the information services provider’s stock worth $15,818,000 after buying an additional 462 shares in the last quarter. Hedge funds and other institutional investors own 34.74% of the company’s stock.
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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