Wedbush Reiterates “Outperform” Rating for Alphabet (NASDAQ:GOOGL)

Alphabet (NASDAQ:GOOGL)‘s stock had its “outperform” rating restated by equities researchers at Wedbush in a note issued to investors on Thursday,Benzinga reports.

Several other equities analysts have also weighed in on GOOGL. Arete Research increased their target price on Alphabet from $405.00 to $425.00 and gave the company a “buy” rating in a research note on Monday, May 18th. Susquehanna restated a “positive” rating and set a $460.00 target price (up from $400.00) on shares of Alphabet in a research report on Thursday, April 30th. Truist Financial set a $430.00 price target on shares of Alphabet and gave the company a “buy” rating in a research report on Friday, May 29th. Piper Sandler reissued an “overweight” rating and set a $445.00 price objective (up from $425.00) on shares of Alphabet in a research note on Monday, June 1st. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Alphabet in a report on Monday, April 20th. Three equities research analysts have rated the stock with a Strong Buy rating, forty-seven have issued a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $413.73.

Alphabet Stock Performance

Shares of Alphabet stock opened at $370.92 on Thursday. The firm has a fifty day moving average of $370.84 and a two-hundred day moving average of $337.62. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.92 and a current ratio of 1.92. The stock has a market capitalization of $4.49 trillion, a price-to-earnings ratio of 28.29, a PEG ratio of 1.54 and a beta of 1.24. Alphabet has a 52 week low of $180.48 and a 52 week high of $408.61.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Wednesday, April 29th. The information services provider reported $5.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.64 by $2.47. Alphabet had a return on equity of 38.99% and a net margin of 37.92%.The business had revenue of $109.90 billion for the quarter, compared to analyst estimates of $106.98 billion. As a group, equities research analysts predict that Alphabet will post 14.32 EPS for the current year.

Insider Activity at Alphabet

In related news, insider John Kent Walker sold 8,998 shares of the company’s stock in a transaction on Monday, June 29th. The shares were sold at an average price of $349.29, for a total value of $3,142,911.42. Following the completion of the transaction, the insider directly owned 75,290 shares of the company’s stock, valued at approximately $26,298,044.10. This represents a 10.68% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Marsida Saraci sold 449 shares of the stock in a transaction dated Friday, June 26th. The stock was sold at an average price of $341.72, for a total value of $153,432.28. Following the transaction, the chief accounting officer owned 27,348 shares of the company’s stock, valued at approximately $9,345,358.56. This trade represents a 1.62% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 159,415 shares of company stock valued at $7,672,279 over the last three months. Insiders own 11.61% of the company’s stock.

Institutional Investors Weigh In On Alphabet

Hedge funds and other institutional investors have recently bought and sold shares of the company. Processus Wealth & Capital Management LLC raised its position in Alphabet by 1.0% in the 2nd quarter. Processus Wealth & Capital Management LLC now owns 20,509 shares of the information services provider’s stock valued at $7,329,000 after buying an additional 198 shares during the last quarter. First Community Trust NA grew its stake in shares of Alphabet by 1.6% during the 2nd quarter. First Community Trust NA now owns 18,694 shares of the information services provider’s stock worth $6,681,000 after acquiring an additional 297 shares in the last quarter. Walker Asset Management LLC raised its holdings in shares of Alphabet by 1.1% in the second quarter. Walker Asset Management LLC now owns 3,070 shares of the information services provider’s stock valued at $1,097,000 after purchasing an additional 32 shares during the last quarter. Lee Kelleher & Klein Wealth Management acquired a new stake in shares of Alphabet in the second quarter valued at approximately $302,000. Finally, Buska Wealth Management LLC lifted its position in shares of Alphabet by 5.7% in the second quarter. Buska Wealth Management LLC now owns 875 shares of the information services provider’s stock worth $313,000 after purchasing an additional 47 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Alphabet News Summary

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet is deepening its partnership with AI search startup Parallel Web Systems, a sign it is expanding its AI tools and reinforcing its position in AI-powered search. Why Google partnered with former Twitter CEO Parag Agrawal’s $2 billion AI search startup
• Positive Sentiment: Warren Buffett publicly said he initiated Berkshire Hathaway’s investment in Alphabet, which is boosting investor confidence and reinforcing the stock’s appeal as a large-cap AI and advertising leader. Warren Buffett tells CNBC he initiated Berkshire Hathaway’s investment in Alphabet
• Positive Sentiment: Analysts continue to highlight Alphabet’s AI momentum in Search and Cloud, with improving economics and a large backlog supporting the case for earnings growth and premium valuation. GOOGL Stock: Do AI Growth Drivers Justify the Premium Valuation?
• Neutral Sentiment: Alphabet remains in focus ahead of earnings, with investors watching cloud growth, capital spending, and search resilience for clues on whether AI investment is translating into stronger results. Alphabet’s AI Spending Question Looms Over Q2 Earnings
• Neutral Sentiment: Google said it made its largest solar and battery storage purchase to date, underscoring its long-term infrastructure spending and clean-energy commitments. Google’s biggest clean power project is 40 miles north of xAI’s unpermitted gas power plant
• Negative Sentiment: The EU’s top court upheld Google’s €750,000 Italian fine over gambling ads on YouTube, and regulators are also keeping pressure on the company with broader antitrust enforcement and search-related probes in Europe. EU court upholds Google’s $854,250 Italian fine over gambling advertising
• Negative Sentiment: Google’s AI search products are drawing criticism over safety concerns for kids, adding another reputational and regulatory risk for the company’s AI rollout. Google’s AI search engine poses ‘unacceptable risks for kids,’ bombshell report finds

About Alphabet

Alphabet Inc is the holding company created in 2015 to organize Google and a portfolio of businesses developing technologies beyond Google’s core internet services. Its principal operations are led by Google, which builds and operates consumer-facing products such as Google Search, YouTube, Android, Chrome, Gmail, Google Maps and Google Workspace, as well as advertising platforms (Google Ads and AdSense) that historically generate the majority of its revenue. Google also develops consumer hardware (Pixel phones, Nest smart-home devices, Chromecast) and developer and distribution platforms such as Google Play.

Beyond Google’s consumer and advertising businesses, Alphabet invests in enterprise and infrastructure offerings through Google Cloud, which provides cloud computing, data analytics and productivity services to businesses and institutions.