A number of other equities research analysts also recently issued reports on the stock. Royal Bank of Canada reissued a “buy” rating on shares of Alphabet in a research note on Monday, November 4th. ValuEngine cut shares of Alphabet from a “hold” rating to a “sell” rating in a research report on Thursday, October 10th. Deutsche Bank cut their target price on Alphabet from $1,600.00 to $1,550.00 and set a “buy” rating on the stock in a research report on Tuesday, October 29th. JPMorgan Chase & Co. restated a “buy” rating on shares of Alphabet in a research report on Friday, October 25th. Finally, Raymond James lifted their price objective on Alphabet from $1,360.00 to $1,475.00 and gave the company an “outperform” rating in a research note on Tuesday, October 29th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and twenty-three have given a buy rating to the company’s stock. Alphabet has a consensus rating of “Buy” and a consensus price target of $1,469.93.
Shares of Alphabet stock opened at $1,340.62 on Friday. Alphabet has a fifty-two week low of $970.11 and a fifty-two week high of $1,344.00. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.75 and a current ratio of 3.78. The firm has a market capitalization of $924.61 billion, a price-to-earnings ratio of 28.22, a PEG ratio of 1.64 and a beta of 1.02. The stock has a 50 day moving average of $1,291.48 and a 200 day moving average of $1,194.69.
In related news, SVP David C. Drummond sold 56,860 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $1,289.62, for a total value of $73,327,793.20. Following the completion of the transaction, the senior vice president now directly owns 45,806 shares of the company’s stock, valued at $59,072,333.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Amie Thuener O’toole sold 55 shares of the stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $1,195.00, for a total transaction of $65,725.00. Following the completion of the transaction, the chief accounting officer now owns 388 shares in the company, valued at $463,660. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 87,260 shares of company stock valued at $111,762,027. Corporate insiders own 12.99% of the company’s stock.
Large investors have recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in Alphabet by 1.2% in the second quarter. Vanguard Group Inc. now owns 22,708,312 shares of the information services provider’s stock valued at $24,545,641,000 after buying an additional 259,979 shares in the last quarter. BlackRock Inc. grew its holdings in Alphabet by 3.1% in the second quarter. BlackRock Inc. now owns 20,205,186 shares of the information services provider’s stock valued at $21,839,988,000 after purchasing an additional 612,804 shares during the last quarter. State Street Corp increased its position in shares of Alphabet by 0.7% in the third quarter. State Street Corp now owns 11,764,670 shares of the information services provider’s stock valued at $14,341,133,000 after buying an additional 81,768 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Alphabet by 6.2% in the second quarter. Price T Rowe Associates Inc. MD now owns 11,480,467 shares of the information services provider’s stock valued at $12,409,352,000 after buying an additional 674,924 shares in the last quarter. Finally, Northern Trust Corp increased its position in shares of Alphabet by 0.8% in the second quarter. Northern Trust Corp now owns 4,199,889 shares of the information services provider’s stock valued at $4,539,702,000 after buying an additional 31,873 shares in the last quarter. Institutional investors and hedge funds own 33.82% of the company’s stock.
Alphabet Company Profile
Alphabet Inc provides online advertising services in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It offers performance and brand advertising services. The company operates through Google and Other Bets segments. The Google segment offers products, such as Ads, Android, Chrome, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure.
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