Deutsche Bank Raises Alphabet (NASDAQ:GOOG) Price Target to $1,475.00

Alphabet (NASDAQ:GOOG) had its target price hoisted by Deutsche Bank from $1,400.00 to $1,475.00 in a research report sent to investors on Thursday, The Fly reports. The brokerage currently has a buy rating on the information services provider’s stock.

GOOG has been the topic of several other research reports. Cowen increased their target price on Alphabet from $1,400.00 to $1,500.00 and gave the company an outperform rating in a report on Friday, July 26th. Bank of America reaffirmed a buy rating and set a $1,450.00 price objective (up previously from $1,350.00) on shares of Alphabet in a report on Friday, July 26th. Benchmark reaffirmed a buy rating and set a $1,360.00 price objective (up previously from $1,315.00) on shares of Alphabet in a report on Friday, July 26th. UBS Group reaffirmed a buy rating on shares of Alphabet in a report on Friday, July 26th. Finally, Pivotal Research initiated coverage on Alphabet in a report on Wednesday, May 29th. They set a hold rating on the stock. Three investment analysts have rated the stock with a hold rating and twenty-eight have issued a buy rating to the company. The company currently has an average rating of Buy and a consensus price target of $1,378.93.

NASDAQ:GOOG opened at $1,177.60 on Thursday. The firm has a market capitalization of $809.37 billion, a PE ratio of 24.79, a price-to-earnings-growth ratio of 1.28 and a beta of 0.96. The business’s fifty day moving average price is $1,158.85 and its 200 day moving average price is $1,154.30. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.98 and a quick ratio of 3.96. Alphabet has a 12 month low of $970.11 and a 12 month high of $1,289.27.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Thursday, July 25th. The information services provider reported $14.21 EPS for the quarter, beating the consensus estimate of $11.49 by $2.72. The firm had revenue of $38.94 billion for the quarter, compared to analyst estimates of $38.21 billion. Alphabet had a return on equity of 20.15% and a net margin of 23.43%. Alphabet’s revenue for the quarter was up 19.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $11.75 earnings per share. As a group, equities analysts anticipate that Alphabet will post 52.1 EPS for the current year.

In related news, VP Amie Thuener O’toole sold 55 shares of the firm’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $1,200.74, for a total transaction of $66,040.70. Following the transaction, the vice president now owns 388 shares of the company’s stock, valued at $465,887.12. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director John L. Hennessy sold 150 shares of the firm’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $1,225.00, for a total value of $183,750.00. Following the transaction, the director now directly owns 276 shares in the company, valued at approximately $338,100. The disclosure for this sale can be found here. In the last three months, insiders have sold 2,123 shares of company stock worth $2,553,758. Corporate insiders own 12.99% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Oregon Public Employees Retirement Fund lifted its position in Alphabet by 102,010.9% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 56,224,303 shares of the information services provider’s stock valued at $54,000 after purchasing an additional 56,169,241 shares during the period. Vanguard Group Inc. lifted its position in Alphabet by 1.2% in the second quarter. Vanguard Group Inc. now owns 22,708,312 shares of the information services provider’s stock valued at $24,545,641,000 after purchasing an additional 259,979 shares during the period. BlackRock Inc. lifted its position in Alphabet by 3.1% in the second quarter. BlackRock Inc. now owns 20,205,186 shares of the information services provider’s stock valued at $21,839,988,000 after purchasing an additional 612,804 shares during the period. Lunia Capital LP lifted its position in Alphabet by 135,522.5% in the fourth quarter. Lunia Capital LP now owns 16,870,086 shares of the information services provider’s stock valued at $16,870,000 after purchasing an additional 16,857,647 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its position in Alphabet by 6.2% in the second quarter. Price T Rowe Associates Inc. MD now owns 11,480,467 shares of the information services provider’s stock valued at $12,409,352,000 after purchasing an additional 674,924 shares during the period. 33.98% of the stock is currently owned by hedge funds and other institutional investors.

About Alphabet

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.

See Also: Buy-Side Analysts

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