Alphabet Inc. (NASDAQ:GOOGL) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of Alphabet Inc. (NASDAQ:GOOGLGet Rating) have been assigned a consensus recommendation of “Moderate Buy” from the forty-three ratings firms that are covering the company, Marketbeat.com reports. Five research analysts have rated the stock with a hold recommendation, twenty-eight have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $132.00.

A number of analysts have commented on the company. Truist Financial reduced their price objective on Alphabet from $136.00 to $130.00 and set a “buy” rating for the company in a research report on Wednesday, October 26th. Sanford C. Bernstein reduced their price objective on Alphabet from $130.00 to $120.00 and set an “outperform” rating for the company in a research report on Wednesday, October 26th. New Street Research assumed coverage on Alphabet in a research report on Wednesday, January 4th. They issued a “buy” rating and a $118.00 price objective for the company. Susquehanna Bancshares reduced their price objective on Alphabet from $150.00 to $120.00 and set a “positive” rating for the company in a research report on Wednesday, October 26th. Finally, Morgan Stanley dropped their target price on Alphabet from $125.00 to $120.00 and set an “overweight” rating for the company in a report on Tuesday, November 15th.

Alphabet Stock Performance

Shares of NASDAQ GOOGL opened at $88.42 on Wednesday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.47 and a current ratio of 2.52. The firm has a market cap of $1.14 trillion, a price-to-earnings ratio of 17.56, a P/E/G ratio of 1.53 and a beta of 1.09. The business’s 50-day simple moving average is $92.47 and its 200-day simple moving average is $102.65. Alphabet has a 52 week low of $83.34 and a 52 week high of $151.55.

Alphabet (NASDAQ:GOOGLGet Rating) last announced its earnings results on Tuesday, October 25th. The information services provider reported $1.06 earnings per share for the quarter, missing the consensus estimate of $1.25 by ($0.19). Alphabet had a net margin of 23.75% and a return on equity of 26.41%. The business had revenue of $57.27 billion for the quarter, compared to the consensus estimate of $58.36 billion. During the same quarter in the previous year, the company earned $1.40 EPS. As a group, equities research analysts expect that Alphabet will post 4.68 earnings per share for the current fiscal year.

Insider Activity

In related news, major shareholder 2017 Gp L.L.C. Gv sold 107,393 shares of Alphabet stock in a transaction dated Monday, October 31st. The stock was sold at an average price of $38.64, for a total value of $4,149,665.52. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, major shareholder 2017 Gp L.L.C. Gv sold 107,393 shares of Alphabet stock in a transaction dated Monday, October 31st. The stock was sold at an average price of $38.64, for a total value of $4,149,665.52. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CAO Amie Thuener O’toole sold 855 shares of Alphabet stock in a transaction dated Wednesday, January 4th. The shares were sold at an average price of $91.15, for a total value of $77,933.25. Following the completion of the sale, the chief accounting officer now directly owns 25,122 shares in the company, valued at approximately $2,289,870.30. The disclosure for this sale can be found here. Over the last three months, insiders have bought 1,461,702 shares of company stock worth $36,999,217 and have sold 190,744 shares worth $8,564,640. Corporate insiders own 11.44% of the company’s stock.

Hedge Funds Weigh In On Alphabet

Institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in shares of Alphabet by 1,919.4% during the third quarter. Vanguard Group Inc. now owns 477,035,902 shares of the information services provider’s stock worth $45,628,484,000 after acquiring an additional 453,413,389 shares during the period. State Street Corp boosted its holdings in shares of Alphabet by 1,900.6% during the third quarter. State Street Corp now owns 217,154,306 shares of the information services provider’s stock worth $20,770,809,000 after acquiring an additional 206,300,042 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in shares of Alphabet by 1,759.2% during the third quarter. Price T Rowe Associates Inc. MD now owns 116,116,066 shares of the information services provider’s stock worth $11,106,502,000 after acquiring an additional 109,870,525 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in shares of Alphabet by 1,955.0% during the third quarter. Massachusetts Financial Services Co. MA now owns 61,134,061 shares of the information services provider’s stock worth $5,847,474,000 after acquiring an additional 58,159,150 shares during the period. Finally, Bank of New York Mellon Corp boosted its stake in shares of Alphabet by 1,896.9% in the third quarter. Bank of New York Mellon Corp now owns 58,060,946 shares of the information services provider’s stock valued at $5,553,529,000 after buying an additional 55,153,448 shares during the period. Institutional investors and hedge funds own 34.06% of the company’s stock.

About Alphabet

(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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Analyst Recommendations for Alphabet (NASDAQ:GOOGL)

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