Raymond James Reiterates “Outperform” Rating for Alphabet (GOOG)

Raymond James reissued their outperform rating on shares of Alphabet (NASDAQ:GOOG) in a research report released on Friday. They currently have a $1,300.00 price target on the information services provider’s stock, down from their previous price target of $1,405.00.

A number of other research firms also recently issued reports on GOOG. BidaskClub upgraded shares of Alphabet from a buy rating to a strong-buy rating in a research report on Thursday, July 26th. Royal Bank of Canada lifted their price target on shares of Alphabet from $1,285.00 to $1,400.00 and gave the company an outperform rating in a research report on Tuesday, July 24th. Nomura reiterated a buy rating on shares of Alphabet in a research report on Tuesday, July 24th. Stifel Nicolaus reiterated a buy rating on shares of Alphabet in a research report on Tuesday, July 24th. Finally, Atlantic Securities reiterated a buy rating on shares of Alphabet in a research report on Tuesday, July 24th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-nine have assigned a buy rating to the company. The company currently has a consensus rating of Buy and a consensus target price of $1,301.81.

Shares of GOOG opened at $1,020.08 on Friday. Alphabet has a twelve month low of $980.64 and a twelve month high of $1,273.89. The company has a market capitalization of $745.69 billion, a price-to-earnings ratio of 31.83 and a beta of 1.11. The company has a debt-to-equity ratio of 0.02, a quick ratio of 4.10 and a current ratio of 4.14.



Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data on Thursday, October 25th. The information services provider reported $13.06 earnings per share for the quarter, beating the Zacks’ consensus estimate of $10.41 by $2.65. Alphabet had a return on equity of 19.40% and a net margin of 14.45%. The company had revenue of $27.16 billion for the quarter.

In related news, Director Ann Mather sold 25 shares of Alphabet stock in a transaction that occurred on Wednesday, August 1st. The stock was sold at an average price of $1,228.64, for a total transaction of $30,716.00. Following the completion of the transaction, the director now directly owns 1,884 shares in the company, valued at approximately $2,314,757.76. 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 80 shares of Alphabet stock in a transaction that occurred on Wednesday, September 5th. The stock was sold at an average price of $1,193.80, for a total value of $95,504.00. Following the transaction, the chief accounting officer now owns 388 shares of the company’s stock, valued at $463,194.40. The disclosure for this sale can be found here. Insiders have sold a total of 87,646 shares of company stock valued at $104,260,256 over the last 90 days. Insiders own 13.11% of the company’s stock.

Several institutional investors have recently modified their holdings of the stock. Arizona State Retirement System raised its position in shares of Alphabet by 2.3% during the 3rd quarter. Arizona State Retirement System now owns 76,314 shares of the information services provider’s stock worth $91,078,000 after purchasing an additional 1,692 shares during the last quarter. Round Table Services LLC purchased a new stake in Alphabet in the 3rd quarter worth approximately $347,000. Congress Park Capital LLC grew its stake in Alphabet by 2.8% in the 3rd quarter. Congress Park Capital LLC now owns 1,925 shares of the information services provider’s stock worth $2,297,000 after acquiring an additional 52 shares during the period. GWM Advisors LLC grew its stake in Alphabet by 36.7% in the 3rd quarter. GWM Advisors LLC now owns 2,095 shares of the information services provider’s stock worth $2,500,000 after acquiring an additional 563 shares during the period. Finally, Checchi Capital Advisers LLC grew its stake in Alphabet by 3.0% in the 3rd quarter. Checchi Capital Advisers LLC now owns 3,761 shares of the information services provider’s stock worth $4,489,000 after acquiring an additional 109 shares during the period. Hedge funds and other institutional investors own 34.16% of the company’s stock.

Alphabet Company Profile

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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Analyst Recommendations for Alphabet (NASDAQ:GOOG)

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