Alphabet Inc. (NASDAQ:GOOG) Receives Average Recommendation of “Buy” from Brokerages

Alphabet Inc. (NASDAQ:GOOGGet Free Report) has received an average rating of “Buy” from the six brokerages that are presently covering the company, Marketbeat Ratings reports. Six analysts have rated the stock with a buy rating. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $165.67.

A number of equities research analysts recently issued reports on the company. Stifel Nicolaus increased their price objective on Alphabet from $154.00 to $174.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. Oppenheimer increased their price objective on Alphabet from $172.00 to $185.00 and gave the stock an “outperform” rating in a research report on Monday, April 8th. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $165.00 price objective on shares of Alphabet in a research report on Thursday, April 11th.

View Our Latest Analysis on Alphabet

Insider Buying and Selling at Alphabet

In other news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $148.78, for a total value of $3,347,550.00. Following the transaction, the chief executive officer now owns 2,310,191 shares in the company, valued at $343,710,216.98. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, SVP Prabhakar Raghavan sold 3,258 shares of Alphabet stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $155.97, for a total value of $508,150.26. Following the transaction, the senior vice president now owns 144,685 shares in the company, valued at $22,566,519.45. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $148.78, for a total value of $3,347,550.00. Following the completion of the transaction, the chief executive officer now owns 2,310,191 shares in the company, valued at approximately $343,710,216.98. The disclosure for this sale can be found here. Insiders have sold 183,335 shares of company stock worth $28,204,902 over the last 90 days. Corporate insiders own 12.99% of the company’s stock.

Institutional Trading of Alphabet

Several large investors have recently modified their holdings of GOOG. WealthPlan Investment Management LLC grew its stake in shares of Alphabet by 508.0% in the third quarter. WealthPlan Investment Management LLC now owns 56,632 shares of the information services provider’s stock worth $7,467,000 after purchasing an additional 47,317 shares during the last quarter. Fermata Advisors LLC boosted its position in Alphabet by 77.1% during the 3rd quarter. Fermata Advisors LLC now owns 6,852 shares of the information services provider’s stock valued at $903,000 after acquiring an additional 2,983 shares in the last quarter. Riverpoint Wealth Management Holdings LLC bought a new stake in Alphabet during the 3rd quarter valued at approximately $203,000. Hedeker Wealth LLC boosted its position in Alphabet by 0.8% during the 3rd quarter. Hedeker Wealth LLC now owns 54,266 shares of the information services provider’s stock valued at $7,155,000 after acquiring an additional 435 shares in the last quarter. Finally, Nicolet Advisory Services LLC boosted its position in Alphabet by 11.9% during the 3rd quarter. Nicolet Advisory Services LLC now owns 21,276 shares of the information services provider’s stock valued at $2,899,000 after acquiring an additional 2,261 shares in the last quarter. 27.26% of the stock is owned by institutional investors.

Alphabet Price Performance

Alphabet stock opened at $175.13 on Friday. Alphabet has a one year low of $115.83 and a one year high of $179.95. The business has a fifty day moving average price of $165.86 and a 200-day moving average price of $150.31. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.15 and a quick ratio of 2.15. The firm has a market capitalization of $2.16 trillion, a P/E ratio of 26.86, a PEG ratio of 1.29 and a beta of 1.01.

Alphabet (NASDAQ:GOOGGet Free Report) last posted its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 EPS for the quarter, topping analysts’ consensus estimates of $1.51 by $0.38. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. The firm had revenue of $80.54 billion during the quarter, compared to analyst estimates of $78.75 billion. During the same period last year, the company earned $1.17 earnings per share. The business’s revenue for the quarter was up 15.4% on a year-over-year basis. As a group, equities research analysts forecast that Alphabet will post 7.69 EPS for the current year.

Alphabet Dividend Announcement

The company also recently declared a — dividend, which will be paid on Monday, June 17th. Shareholders of record on Monday, June 10th will be given a dividend of $0.20 per share. The ex-dividend date is Monday, June 10th.

Alphabet Company Profile

(Get Free Report

Alphabet Inc offers 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 provides products and services, including ads, Android, Chrome, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.

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Analyst Recommendations for Alphabet (NASDAQ:GOOG)

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