Alphabet Inc. (GOOG) Upgraded at BidaskClub

Alphabet Inc. (NASDAQ:GOOG) was upgraded by equities researchers at BidaskClub from a “buy” rating to a “strong-buy” rating in a note issued to investors on Thursday.

Several other brokerages have also recently weighed in on GOOG. Jefferies Group LLC reiterated a “buy” rating and issued a $1,200.00 price target (up from $950.00) on shares of Alphabet in a research report on Sunday, May 28th. Wells Fargo & Co reiterated a “buy” rating on shares of Alphabet in a research report on Monday, May 29th. Morgan Stanley reiterated a “buy” rating on shares of Alphabet in a research report on Monday, May 29th. Deutsche Bank AG reiterated a “buy” rating on shares of Alphabet in a research report on Monday, May 29th. Finally, Instinet reiterated a “buy” rating on shares of Alphabet in a research report on Friday, June 2nd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, thirty-nine have issued a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $992.70.

Alphabet (GOOG) traded up 0.35% during mid-day trading on Thursday, hitting $947.16. The stock had a trading volume of 1,294,687 shares. The firm’s 50-day moving average is $952.24 and its 200 day moving average is $860.20. The company has a market cap of $655.20 billion, a price-to-earnings ratio of 32.01 and a beta of 0.94. Alphabet has a 12 month low of $696.43 and a 12 month high of $988.25.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Thursday, April 27th. The information services provider reported $7.73 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $7.38 by $0.35. The company had revenue of $24.75 billion during the quarter, compared to analysts’ expectations of $24.18 billion. Alphabet had a return on equity of 15.16% and a net margin of 21.84%. The firm’s quarterly revenue was up 22.2% compared to the same quarter last year. During the same period in the previous year, the business earned $7.50 earnings per share. Equities analysts anticipate that Alphabet will post $33.98 EPS for the current fiscal year.

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In other Alphabet news, CEO Sundar Pichai sold 4,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 7th. The stock was sold at an average price of $981.45, for a total transaction of $3,925,800.00. Following the transaction, the chief executive officer now owns 2,058 shares in the company, valued at approximately $2,019,824.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director L John Doerr sold 13,355 shares of the company’s stock in a transaction that occurred on Monday, May 15th. The stock was sold at an average price of $935.93, for a total value of $12,499,345.15. Following the transaction, the director now owns 3,468 shares in the company, valued at approximately $3,245,805.24. The disclosure for this sale can be found here. Insiders have sold a total of 46,268 shares of company stock worth $42,981,057 in the last quarter. Company insiders own 13.92% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of GOOG. Empirical Finance LLC bought a new stake in shares of Alphabet during the fourth quarter worth approximately $115,000. Farmers National Bank boosted its stake in shares of Alphabet by 15.0% in the first quarter. Farmers National Bank now owns 161 shares of the information services provider’s stock worth $134,000 after buying an additional 21 shares in the last quarter. Pacific Center for Financial Services bought a new stake in shares of Alphabet during the fourth quarter worth approximately $142,000. St. Johns Investment Management Company LLC boosted its stake in shares of Alphabet by 1,046.7% in the second quarter. St. Johns Investment Management Company LLC now owns 172 shares of the information services provider’s stock worth $156,000 after buying an additional 157 shares in the last quarter. Finally, Israel Discount Bank of New York GFN bought a new stake in shares of Alphabet during the fourth quarter worth approximately $166,000. Hedge funds and other institutional investors own 34.62% of the company’s stock.

Alphabet Company Profile

Alphabet Inc is a holding company. The Company’s businesses include Google Inc (Google) and its Internet products, such as Access, Calico, CapitalG, GV, Nest, Verily, Waymo and X. The Company’s segments include Google and Other Bets. The Google segment includes its Internet products, such as Search, Ads, Commerce, Maps, YouTube, Google Cloud, Android, Chrome and Google Play, as well as its hardware initiatives.

Analyst Recommendations for Alphabet (NASDAQ:GOOG)

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