Alphabet’s (GOOGL) “Neutral” Rating Reiterated at UBS Group

UBS Group restated their neutral rating on shares of Alphabet (NASDAQ:GOOGL) in a research note published on Wednesday,MarketScreener reports.

Other analysts also recently issued research reports about the company. Morgan Stanley set a $270.00 price objective on Alphabet and gave the stock an “overweight” rating in a research note on Thursday, October 2nd. Wall Street Zen downgraded Alphabet from a “buy” rating to a “hold” rating in a research note on Sunday, September 21st. Oppenheimer lifted their price target on Alphabet from $270.00 to $300.00 and gave the company an “outperform” rating in a research note on Monday, October 20th. BMO Capital Markets set a $294.00 price target on Alphabet and gave the company an “outperform” rating in a research note on Thursday, October 9th. Finally, Bank of America lifted their price target on Alphabet from $252.00 to $280.00 and gave the company a “buy” rating in a research note on Monday, October 20th. Four investment analysts have rated the stock with a Strong Buy rating, thirty-four have issued a Buy rating and ten have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $263.20.

Alphabet Stock Performance

Shares of Alphabet stock opened at $259.92 on Wednesday. The company has a market capitalization of $3.14 trillion, a PE ratio of 27.68, a PEG ratio of 1.71 and a beta of 1.00. Alphabet has a 12 month low of $140.53 and a 12 month high of $261.68. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. The stock’s fifty day simple moving average is $236.72 and its 200 day simple moving average is $195.25.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, topping the consensus estimate of $2.15 by $0.16. The business had revenue of $96.43 billion for the quarter, compared to the consensus estimate of $93.60 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. On average, research analysts predict that Alphabet will post 8.9 EPS for the current year.

Insider Activity

In other news, insider John Kent Walker sold 23,820 shares of the firm’s stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $194.70, for a total value of $4,637,754.00. Following the completion of the transaction, the insider owned 42,999 shares in the company, valued at $8,371,905.30. This trade represents a 35.65% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Amie Thuener O’toole sold 2,778 shares of the firm’s stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $245.00, for a total value of $680,610.00. Following the completion of the transaction, the chief accounting officer owned 17,293 shares of the company’s stock, valued at $4,236,785. The trade was a 13.84% decrease in their position. The disclosure for this sale can be found here. Insiders sold 246,150 shares of company stock worth $55,805,379 in the last quarter. Corporate insiders own 11.64% of the company’s stock.

Hedge Funds Weigh In On Alphabet

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Breakwater Investment Management increased its stake in Alphabet by 1.0% during the 3rd quarter. Breakwater Investment Management now owns 4,228 shares of the information services provider’s stock valued at $1,028,000 after purchasing an additional 41 shares in the last quarter. Wealth Alliance Advisory Group LLC increased its stake in Alphabet by 1.0% during the 3rd quarter. Wealth Alliance Advisory Group LLC now owns 4,045 shares of the information services provider’s stock valued at $983,000 after purchasing an additional 41 shares in the last quarter. Clearview Wealth Advisors LLC increased its stake in Alphabet by 3.3% during the 3rd quarter. Clearview Wealth Advisors LLC now owns 1,281 shares of the information services provider’s stock valued at $312,000 after purchasing an additional 41 shares in the last quarter. Kooman & Associates increased its stake in Alphabet by 3.3% during the 3rd quarter. Kooman & Associates now owns 1,343 shares of the information services provider’s stock valued at $326,000 after purchasing an additional 43 shares in the last quarter. Finally, Contravisory Investment Management Inc. boosted its holdings in shares of Alphabet by 2.9% in the 3rd quarter. Contravisory Investment Management Inc. now owns 1,572 shares of the information services provider’s stock valued at $382,000 after acquiring an additional 44 shares during the last quarter. Institutional investors own 40.03% of the company’s stock.

About Alphabet

Alphabet Inc offers 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 provides products and services, including ads, Android, Chrome, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.