Alphabet Inc (GOOG) Receives $1,356.36 Average Target Price from Analysts

Alphabet Inc (NASDAQ:GOOG) has received a consensus recommendation of “Buy” from the thirty-two research firms that are presently covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a hold recommendation and twenty-nine have assigned a buy recommendation to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $1,356.36.

A number of research analysts have recently commented on GOOG shares. UBS Group reissued a “buy” rating on shares of Alphabet in a research report on Monday, January 14th. Deutsche Bank reduced their target price on shares of Alphabet from $1,350.00 to $1,300.00 and set a “buy” rating on the stock in a research report on Wednesday, January 23rd. Goldman Sachs Group reissued a “buy” rating on shares of Alphabet in a research report on Tuesday, February 12th. Royal Bank of Canada reissued a “buy” rating on shares of Alphabet in a research report on Wednesday, January 2nd. Finally, BidaskClub raised shares of Alphabet from a “sell” rating to a “hold” rating in a research report on Tuesday.

GOOG traded up $9.21 during trading on Wednesday, hitting $1,236.34. 1,211,854 shares of the company’s stock were exchanged, compared to its average volume of 1,400,299. The company has a quick ratio of 3.89, a current ratio of 3.92 and a debt-to-equity ratio of 0.02. Alphabet has a 1 year low of $970.11 and a 1 year high of $1,273.89. The company has a market cap of $853.09 billion, a P/E ratio of 26.02, a P/E/G ratio of 1.44 and a beta of 1.05.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Monday, February 4th. The information services provider reported $12.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.86 by $1.91. Alphabet had a net margin of 22.47% and a return on equity of 19.94%. The company had revenue of $39.28 billion during the quarter, compared to the consensus estimate of $38.91 billion. During the same period in the previous year, the firm earned $9.70 earnings per share. Alphabet’s revenue for the quarter was up 21.5% on a year-over-year basis. Research analysts anticipate that Alphabet will post 47.34 earnings per share for the current year.

In other news, Director Ann Mather sold 38 shares of the company’s stock in a transaction dated Friday, January 18th. The shares were sold at an average price of $1,100.00, for a total transaction of $41,800.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director John L. Hennessy sold 375 shares of the company’s stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $1,200.00, for a total transaction of $450,000.00. Following the transaction, the director now owns 80 shares of the company’s stock, valued at approximately $96,000. The disclosure for this sale can be found here. Insiders have sold 797 shares of company stock worth $932,483 over the last three months. 13.11% of the stock is owned by corporate insiders.

Institutional investors have recently added to or reduced their stakes in the company. Carroll Financial Associates Inc. grew its position in Alphabet by 3.6% in the 1st quarter. Carroll Financial Associates Inc. now owns 1,141 shares of the information services provider’s stock valued at $1,338,000 after buying an additional 40 shares in the last quarter. Stock Yards Bank & Trust Co. grew its position in Alphabet by 6.5% in the 1st quarter. Stock Yards Bank & Trust Co. now owns 2,674 shares of the information services provider’s stock valued at $3,137,000 after buying an additional 163 shares in the last quarter. Appleton Partners Inc. MA grew its position in Alphabet by 4.7% in the 1st quarter. Appleton Partners Inc. MA now owns 5,685 shares of the information services provider’s stock valued at $6,671,000 after buying an additional 253 shares in the last quarter. Hills Bank & Trust Co. grew its position in Alphabet by 4.9% in the 1st quarter. Hills Bank & Trust Co. now owns 5,979 shares of the information services provider’s stock valued at $7,015,000 after buying an additional 279 shares in the last quarter. Finally, Tompkins Financial Corp grew its position in Alphabet by 2.6% in the 1st quarter. Tompkins Financial Corp now owns 743 shares of the information services provider’s stock valued at $887,000 after buying an additional 19 shares in the last quarter. Institutional investors and hedge funds own 34.45% of the company’s stock.

Alphabet Company Profile

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.

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Analyst Recommendations for Alphabet (NASDAQ:GOOG)

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