Jefferies Financial Group Reiterates Buy Rating for Alphabet (NASDAQ:GOOGL)

Alphabet (NASDAQ:GOOGLGet Free Report)‘s stock had its “buy” rating reaffirmed by Jefferies Financial Group in a research report issued on Monday,MarketScreener reports.

GOOGL has been the subject of several other reports. Rothschild & Co Redburn boosted their target price on shares of Alphabet from $390.00 to $430.00 and gave the company a “buy” rating in a research report on Thursday. Cantor Fitzgerald increased their price target on shares of Alphabet from $395.00 to $465.00 and gave the stock an “overweight” rating in a research report on Thursday. Tigress Financial set a $415.00 price target on shares of Alphabet and gave the stock a “strong-buy” rating in a research note on Thursday, February 19th. Truist Financial boosted their price objective on shares of Alphabet from $385.00 to $415.00 and gave the company a “buy” rating in a research report on Thursday. Finally, Bank of America raised their target price on Alphabet from $370.00 to $430.00 and gave the stock a “buy” rating in a report on Thursday. Two analysts have rated the stock with a Strong Buy rating, forty-seven have issued a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $400.46.

Check Out Our Latest Stock Analysis on GOOGL

Alphabet Trading Down 0.8%

NASDAQ:GOOGL opened at $382.46 on Monday. The firm has a market capitalization of $4.63 trillion, a P/E ratio of 29.11, a P/E/G ratio of 1.80 and a beta of 1.26. The company has a quick ratio of 1.92, a current ratio of 1.92 and a debt-to-equity ratio of 0.16. The company has a fifty day moving average of $313.72 and a 200 day moving average of $308.70. Alphabet has a 52 week low of $147.84 and a 52 week high of $387.38.

Alphabet (NASDAQ:GOOGLGet Free Report) last announced its quarterly earnings results on Wednesday, April 29th. The information services provider reported $5.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.64 by $2.47. The business had revenue of $109.90 billion for the quarter, compared to analyst estimates of $106.98 billion. Alphabet had a net margin of 37.92% and a return on equity of 38.99%. On average, research analysts predict that Alphabet will post 12.94 earnings per share for the current year.

Insider Activity

In other news, CAO Amie Thuener O’toole sold 955 shares of the business’s stock in a transaction dated Tuesday, March 3rd. The stock was sold at an average price of $298.00, for a total value of $284,590.00. Following the transaction, the chief accounting officer directly owned 9,918 shares in the company, valued at $2,955,564. The trade was a 8.78% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction that occurred on Wednesday, February 18th. The shares were sold at an average price of $303.92, for a total transaction of $9,877,400.00. Following the sale, the chief executive officer directly owned 2,818,524 shares of the company’s stock, valued at approximately $856,605,814.08. This trade represents a 1.14% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 191,053 shares of company stock worth $58,845,206 in the last quarter. Corporate insiders own 11.61% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of GOOGL. Brighton Jones LLC boosted its holdings in shares of Alphabet by 3.9% in the fourth quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider’s stock valued at $20,886,000 after purchasing an additional 4,110 shares during the period. Revolve Wealth Partners LLC boosted its position in shares of Alphabet by 3.5% in the 4th quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider’s stock worth $2,826,000 after purchasing an additional 506 shares in the last quarter. Matrix Asset Advisors Inc. NY boosted its holdings in Alphabet by 17.6% in the second quarter. Matrix Asset Advisors Inc. NY now owns 3,888 shares of the information services provider’s stock worth $685,000 after acquiring an additional 581 shares in the last quarter. Sequoia Financial Advisors LLC increased its stake in Alphabet by 11.2% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 485,486 shares of the information services provider’s stock valued at $85,557,000 after purchasing an additional 48,805 shares in the last quarter. Finally, United Bank lifted its stake in shares of Alphabet by 6.9% during the second quarter. United Bank now owns 48,204 shares of the information services provider’s stock worth $8,495,000 after buying an additional 3,120 shares during the period. Institutional investors own 40.03% of the company’s stock.

Alphabet News Summary

Here are the key news stories impacting Alphabet this week:

About Alphabet

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Alphabet Inc is the holding company created in 2015 to organize Google and a portfolio of businesses developing technologies beyond Google’s core internet services. Its principal operations are led by Google, which builds and operates consumer-facing products such as Google Search, YouTube, Android, Chrome, Gmail, Google Maps and Google Workspace, as well as advertising platforms (Google Ads and AdSense) that historically generate the majority of its revenue. Google also develops consumer hardware (Pixel phones, Nest smart-home devices, Chromecast) and developer and distribution platforms such as Google Play.

Beyond Google’s consumer and advertising businesses, Alphabet invests in enterprise and infrastructure offerings through Google Cloud, which provides cloud computing, data analytics and productivity services to businesses and institutions.

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