Alphabet Inc. (NASDAQ:GOOGL) Receives Average Recommendation of “Moderate Buy” from Analysts

Alphabet Inc. (NASDAQ:GOOGL) Receives Average Recommendation of “Moderate Buy” from Analysts

Updated: 29 days, 14 hours, 19 minutes, 39 seconds ago

Shares of Alphabet Inc. (NASDAQ:GOOGL – Get Rating) have received an average rating of “Moderate Buy” from the forty-one analysts that are covering the firm, MarketBeat reports. Five equities research analysts have rated the stock with a hold recommendation, twenty-seven have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $134.37.

Several analysts have issued reports on GOOGL shares. Sanford C. Bernstein dropped their price target on Alphabet from $130.00 to $120.00 and set an “outperform” rating on the stock in a research note on Wednesday. Evercore ISI dropped their price target on Alphabet from $140.00 to $130.00 and set an “outperform” rating on the stock in a research note on Wednesday. Susquehanna dropped their price target on Alphabet from $150.00 to $120.00 and set a “positive” rating on the stock in a research note on Wednesday. Wells Fargo & Company dropped their price target on Alphabet from $160.00 to $145.00 and set an “overweight” rating on the stock in a research note on Wednesday. Finally, Atlantic Securities lowered their target price on Alphabet to $115.00 in a research report on Thursday.

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Insider Activity at Alphabet

In related news, major shareholder 2019 Gp L.L.C. Gv acquired 800,000 shares of the firm’s stock in a transaction that occurred on Monday, October 24th. The stock was acquired at an average cost of $17.00 per share, for a total transaction of $13,600,000.00. Following the completion of the acquisition, the insider now directly owns 11,522,248 shares of the company’s stock, valued at approximately $195,878,216. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, major shareholder 2019 Gp L.L.C. Gv purchased 800,000 shares of the business’s stock in a transaction on Monday, October 24th. The shares were acquired at an average price of $17.00 per share, with a total value of $13,600,000.00. Following the completion of the transaction, the insider now owns 11,522,248 shares of the company’s stock, valued at approximately $195,878,216. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Prabhakar Raghavan sold 22,208 shares of the stock in a transaction dated Monday, October 3rd. The stock was sold at an average price of $98.09, for a total transaction of $2,178,382.72. Following the transaction, the senior vice president now directly owns 54,372 shares in the company, valued at approximately $5,333,349.48. The disclosure for this sale can be found here. Insiders sold 173,056 shares of company stock worth $18,002,360 over the last three months. Company insiders own 11.44% of the company’s stock.

Hedge Funds Weigh In On Alphabet

Institutional investors and hedge funds have recently made changes to their positions in the stock. IAG Wealth Partners LLC raised its holdings in shares of Alphabet by 3,275.0% in the 3rd quarter. IAG Wealth Partners LLC now owns 270 shares of the information services provider’s stock worth $26,000 after acquiring an additional 262 shares during the last quarter. Artemis Wealth Advisors LLC raised its holdings in shares of Alphabet by 1,900.0% in the 3rd quarter. Artemis Wealth Advisors LLC now owns 280 shares of the information services provider’s stock worth $27,000 after acquiring an additional 266 shares during the last quarter. Dravo Bay LLC acquired a new stake in shares of Alphabet in the 1st quarter worth about $28,000. Financial Enhancement Group LLC purchased a new stake in Alphabet in the 1st quarter valued at about $31,000. Finally, Horizons Wealth Management purchased a new stake in Alphabet in the 2nd quarter valued at about $33,000. Institutional investors own 1.88% of the company’s stock.

Alphabet Stock Performance

Institutional investors and hedge funds have recently made changes to their positions in the stock. IAG Wealth Partners LLC raised its holdings in shares of Alphabet by 3,275.0% in the 3rd quarter. IAG Wealth Partners LLC now owns 270 shares of the information services provider’s stock worth $26,000 after acquiring an additional 262 shares during the last quarter. Artemis Wealth Advisors LLC raised its holdings in shares of Alphabet by 1,900.0% in the 3rd quarter. Artemis Wealth Advisors LLC now owns 280 shares of the information services provider’s stock worth $27,000 after acquiring an additional 266 shares during the last quarter. Dravo Bay LLC acquired a new stake in shares of Alphabet in the 1st quarter worth about $28,000. Financial Enhancement Group LLC purchased a new stake in Alphabet in the 1st quarter valued at about $31,000. Finally, Horizons Wealth Management purchased a new stake in Alphabet in the 2nd quarter valued at about $33,000. Institutional investors own 1.88% of the company’s stock.

Shares of Alphabet stock opened at $92.22 on Friday. The company has a market capitalization of $1.20 trillion, a PE ratio of 18.31, a PEG ratio of 1.79 and a beta of 1.10. Alphabet has a 12 month low of $91.80 and a 12 month high of $151.55. The company has a current ratio of 2.81, a quick ratio of 2.78 and a debt-to-equity ratio of 0.06. The stock’s fifty day simple moving average is $103.52 and its 200 day simple moving average is $111.37.

Alphabet (NASDAQ:GOOGL – Get Rating) last issued its quarterly earnings data on Tuesday, October 25th. The information services provider reported $1.06 EPS for the quarter, missing the consensus estimate of $1.25 by ($0.19). Alphabet had a return on equity of 28.65% and a net margin of 25.89%. During the same period last year, the company posted $1.40 EPS. On average, research analysts predict that Alphabet will post 5.08 EPS for the current year.

About Alphabet

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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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