Posted by admin on May 31st, 2022
Alphabet Inc. (NASDAQ:GOOGL – Get Rating) has earned a consensus rating of “Buy” from the forty ratings firms that are presently covering the stock, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold recommendation, thirty-one have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price target among brokers that have covered the stock in the last year is $3,312.41.
A number of brokerages have issued reports on GOOGL. JPMorgan Chase & Co. boosted their price target on Alphabet from $3,250.00 to $3,450.00 and gave the company an “overweight” rating in a report on Wednesday, February 2nd. MKM Partners reduced their target price on Alphabet from $3,375.00 to $3,300.00 and set a “buy” rating for the company in a research note on Thursday, April 14th. Morgan Stanley reduced their target price on Alphabet from $3,450.00 to $3,270.00 and set an “overweight” rating for the company in a research note on Wednesday, April 27th. The Goldman Sachs Group upped their target price on Alphabet from $3,350.00 to $3,400.00 and gave the stock a “buy” rating in a research note on Wednesday, February 2nd. Finally, Wolfe Research reduced their target price on Alphabet from $3,500.00 to $2,900.00 and set an “outperform” rating for the company in a research note on Wednesday, April 27th.
Shares of NASDAQ GOOGL opened at $2,246.33 on Tuesday. Alphabet has a 52 week low of $2,037.69 and a 52 week high of $3,030.93. The firm has a market cap of $1.48 trillion, a P/E ratio of 20.32, a P/E/G ratio of 1.05 and a beta of 1.13. The business’s 50 day moving average price is $2,476.06 and its 200 day moving average price is $2,674.42. The company has a quick ratio of 2.85, a current ratio of 2.87 and a debt-to-equity ratio of 0.06.
Alphabet shares are going to split before the market opens on Monday, July 18th. The 20-1 split was announced on Tuesday, February 1st. The newly minted shares will be payable to shareholders after the market closes on Friday, July 15th.
Alphabet (NASDAQ:GOOGL – Get Rating) last announced its quarterly earnings results on Tuesday, April 26th. The information services provider reported $24.62 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $25.51 by ($0.89). Alphabet had a net margin of 27.57% and a return on equity of 30.18%. During the same period last year, the company earned $26.29 earnings per share. As a group, research analysts expect that Alphabet will post 112.46 earnings per share for the current year.
In related news, major shareholder 2016 Gp L.L.C. Gv sold 544,249 shares of the firm’s stock in a transaction dated Monday, April 11th. The stock was sold at an average price of $11.16, for a total transaction of $6,073,818.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ann Mather sold 21 shares of the firm’s stock in a transaction dated Wednesday, May 25th. The shares were sold at an average price of $2,102.84, for a total value of $44,159.64. Following the transaction, the director now owns 565 shares of the company’s stock, valued at $1,188,104.60. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 550,282 shares of company stock valued at $21,681,939. Company insiders own 11.44% of the company’s stock.
A number of institutional investors have recently made changes to their positions in GOOGL. Vanguard Group Inc. raised its position in Alphabet by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 23,304,411 shares of the information services provider’s stock valued at $64,817,723,000 after purchasing an additional 331,945 shares in the last quarter. State Street Corp raised its position in Alphabet by 1.4% in the 4th quarter. State Street Corp now owns 11,252,792 shares of the information services provider’s stock valued at $32,599,789,000 after purchasing an additional 157,280 shares in the last quarter. Geode Capital Management LLC raised its position in Alphabet by 2.2% in the 4th quarter. Geode Capital Management LLC now owns 5,322,633 shares of the information services provider’s stock valued at $15,381,257,000 after purchasing an additional 116,084 shares in the last quarter. Norges Bank acquired a new stake in Alphabet in the 4th quarter valued at about $14,477,662,000. Finally, Aaron Wealth Advisors LLC raised its position in Alphabet by 699,790.2% in the 1st quarter. Aaron Wealth Advisors LLC now owns 4,703,262 shares of the information services provider’s stock valued at $1,691,000 after purchasing an additional 4,702,590 shares in the last quarter. Institutional investors own 41.70% of the company’s stock.
About Alphabet (Get Rating)
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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