Alphabet (GOOG) Price Target Cut to $1,140.00

Alphabet (NASDAQ:GOOG) had its target price decreased by Canaccord Genuity from $1,170.00 to $1,140.00 in a report issued on Friday morning, MarketBeat.com reports. Canaccord Genuity currently has a hold rating on the information services provider’s stock.

Other equities analysts have also recently issued reports about the company. Barclays reaffirmed a buy rating on shares of Alphabet in a report on Friday, September 14th. Morgan Stanley reaffirmed a buy rating on shares of Alphabet in a report on Wednesday, August 29th. Macquarie reaffirmed a buy rating on shares of Alphabet in a report on Monday, September 10th. BidaskClub cut Alphabet from a buy rating to a hold rating in a report on Friday, August 17th. Finally, Goldman Sachs Group reaffirmed a buy rating on shares of Alphabet in a report on Friday, September 28th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and thirty have given a buy rating to the company. Alphabet currently has a consensus rating of Buy and a consensus target price of $1,301.81.

Shares of GOOG stock traded down $24.10 on Friday, reaching $1,071.47. The stock had a trading volume of 4,185,192 shares, compared to its average volume of 1,803,303. The company has a market cap of $762.46 billion, a P/E ratio of 24.65 and a beta of 1.11. Alphabet has a 1 year low of $980.64 and a 1 year high of $1,273.89. The company has a debt-to-equity ratio of 0.02, a current ratio of 4.15 and a quick ratio of 4.13.



Alphabet (NASDAQ:GOOG) last released its quarterly earnings results on Thursday, October 25th. The information services provider reported $13.06 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $10.41 by $2.65. The firm had revenue of $27.16 billion for the quarter. Alphabet had a return on equity of 19.75% and a net margin of 14.45%.

In other Alphabet news, SVP David C. Drummond sold 5,690 shares of the firm’s stock in a transaction dated Monday, August 13th. The stock was sold at an average price of $1,244.09, for a total transaction of $7,078,872.10. Following the sale, the senior vice president now directly owns 41,234 shares of the company’s stock, valued at $51,298,807.06. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Sundar Pichai sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, August 1st. The shares were sold at an average price of $1,229.07, for a total value of $12,290,700.00. Following the sale, the chief executive officer now directly owns 885 shares in the company, valued at $1,087,726.95. The disclosure for this sale can be found here. Over the last three months, insiders have sold 87,646 shares of company stock worth $104,260,256. Insiders own 13.11% of the company’s stock.

A number of large investors have recently bought and sold shares of GOOG. Ironwood Financial llc increased its holdings in shares of Alphabet by 111.1% in the third quarter. Ironwood Financial llc now owns 95 shares of the information services provider’s stock worth $113,000 after purchasing an additional 50 shares during the last quarter. Braun Bostich & Associates Inc. bought a new stake in shares of Alphabet in the first quarter worth about $107,000. Litman Gregory Asset Management LLC bought a new stake in shares of Alphabet in the first quarter worth about $113,000. Patton Albertson Miller Group LLC bought a new stake in shares of Alphabet in the third quarter worth about $116,000. Finally, ELM Advisors LLC bought a new stake in shares of Alphabet in the third quarter worth about $138,000. 34.19% of the stock is currently owned by institutional investors and hedge funds.

About Alphabet

Alphabet Inc, through its subsidiaries, provides online advertising services in the United States and internationally. The company offers performance and brand advertising services. It operates through Google and Other Bets segments. The Google segment includes principal Internet products, such as Ads, Android, Chrome, Commerce, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure and newer efforts, including Virtual Reality.

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