Alphabet (NASDAQ:GOOG – Get Rating) had its price target cut by equities research analysts at Cowen from $3,200.00 to $3,000.00 in a report released on Wednesday, Briefing.com reports. The brokerage presently has an “outperform” rating on the information services provider’s stock. Cowen’s price target suggests a potential upside of 32.26% from the company’s current price.
Other equities analysts also recently issued research reports about the company. Raymond James dropped their price objective on Alphabet from $3,630.00 to $3,180.00 in a report on Wednesday, April 27th. Oppenheimer restated an “outperform” rating and issued a $3,290.00 price objective on shares of Alphabet in a report on Thursday, April 28th. Deutsche Bank Aktiengesellschaft dropped their price objective on Alphabet from $3,150.00 to $2,900.00 in a report on Wednesday, April 27th. Tigress Financial increased their price objective on Alphabet from $3,540.00 to $3,670.00 in a report on Friday, March 18th. Finally, Wedbush restated an “outperform” rating on shares of Alphabet in a report on Wednesday, April 20th. Thirty-one investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $3,279.23.
Shares of GOOG traded down $28.69 during trading hours on Wednesday, reaching $2,268.30. The company’s stock had a trading volume of 19,635 shares, compared to its average volume of 1,441,073. The firm has a market cap of $1.49 trillion, a price-to-earnings ratio of 20.45, a P/E/G ratio of 1.17 and a beta of 1.10. Alphabet has a 1-year low of $2,044.16 and a 1-year high of $3,042.00. The company has a quick ratio of 2.85, a current ratio of 2.87 and a debt-to-equity ratio of 0.06. The company has a 50 day moving average of $2,262.76 and a two-hundred day moving average of $2,539.78.
Shares of Alphabet are going to split on the morning of Monday, July 18th. The 20-1 split was announced on Tuesday, February 1st. The newly created shares will be distributed to shareholders after the market closes on Friday, July 15th.
Alphabet (NASDAQ:GOOG – Get Rating) last issued its earnings results on Tuesday, April 26th. The information services provider reported $24.62 earnings per share for the quarter, missing analysts’ consensus estimates of $25.70 by ($1.08). The business had revenue of $56.02 billion during the quarter, compared to analyst estimates of $56.17 billion. Alphabet had a net margin of 27.57% and a return on equity of 30.18%. During the same quarter in the prior year, the company earned $26.29 EPS. As a group, analysts forecast that Alphabet will post 110.62 EPS for the current fiscal year.
In related news, Director Ann Mather sold 20 shares of the firm’s stock in a transaction on Monday, June 27th. The stock was sold at an average price of $2,383.32, for a total value of $47,666.40. Following the completion of the transaction, the director now directly owns 565 shares of the company’s stock, valued at $1,346,575.80. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder 2021 Gp L.L.C. Gv bought 255,647 shares of Alphabet stock in a transaction that occurred on Tuesday, May 10th. The stock was purchased at an average cost of $34.65 per share, with a total value of $8,858,168.55. Following the completion of the transaction, the insider now owns 479,695 shares of the company’s stock, valued at $16,621,431.75. The disclosure for this purchase can be found here. Insiders sold 5,839 shares of company stock valued at $12,873,739 over the last three months. 12.99% of the stock is owned by company insiders.
A number of hedge funds have recently modified their holdings of GOOG. Red Door Wealth Management LLC raised its stake in Alphabet by 10.8% during the second quarter. Red Door Wealth Management LLC now owns 3,409 shares of the information services provider’s stock worth $7,457,000 after acquiring an additional 332 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in Alphabet by 3.6% during the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 21,236 shares of the information services provider’s stock worth $46,453,000 after acquiring an additional 732 shares in the last quarter. AustralianSuper Pty Ltd raised its stake in Alphabet by 314.8% during the second quarter. AustralianSuper Pty Ltd now owns 96,850 shares of the information services provider’s stock worth $211,855,000 after acquiring an additional 73,500 shares in the last quarter. RGT Wealth Advisors LLC raised its stake in Alphabet by 1,200.0% during the second quarter. RGT Wealth Advisors LLC now owns 143 shares of the information services provider’s stock worth $313,000 after acquiring an additional 132 shares in the last quarter. Finally, Community Trust & Investment Co. acquired a new position in Alphabet during the second quarter worth $41,019,000. 31.20% of the stock is owned by hedge funds and other institutional investors.
Alphabet Company Profile (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.