Alphabet (NASDAQ:GOOG) Stock Rating Reaffirmed by Royal Bank of Canada

Alphabet (NASDAQ:GOOG)‘s stock had its “buy” rating reiterated by research analysts at Royal Bank of Canada in a research note issued on Friday, Borsen Zeitung reports.

Several other brokerages have also recently commented on GOOG. JPMorgan Chase & Co. increased their target price on Alphabet from $1,505.00 to $1,700.00 and gave the stock an “overweight” rating in a report on Wednesday, July 15th. Oppenheimer raised their price objective on shares of Alphabet from $1,445.00 to $1,685.00 and gave the company an “outperform” rating in a research report on Friday. Susquehanna Bancshares increased their price target on shares of Alphabet from $1,550.00 to $1,800.00 in a research note on Wednesday, April 29th. Jefferies Financial Group restated a “buy” rating on shares of Alphabet in a research report on Tuesday, April 28th. Finally, Mizuho increased their price objective on Alphabet from $1,650.00 to $1,750.00 and gave the company a “buy” rating in a research report on Tuesday, July 21st. Four analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $1,671.00.

NASDAQ:GOOG opened at $1,482.96 on Friday. The company has a quick ratio of 3.64, a current ratio of 3.66 and a debt-to-equity ratio of 0.08. The firm has a market cap of $1,012.30 billion, a PE ratio of 32.61, a price-to-earnings-growth ratio of 2.27 and a beta of 1.05. Alphabet has a 12 month low of $1,013.54 and a 12 month high of $1,586.99. The company’s 50-day moving average price is $1,474.19 and its two-hundred day moving average price is $1,377.20.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Thursday, July 30th. The information services provider reported $10.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.43 by $1.70. The company had revenue of $31.60 billion during the quarter, compared to analysts’ expectations of $30.58 billion. Alphabet had a net margin of 18.99% and a return on equity of 15.77%. On average, research analysts expect that Alphabet will post 42.07 EPS for the current fiscal year.

In other news, Director Ann Mather sold 32 shares of the firm’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $1,418.39, for a total transaction of $45,388.48. Following the completion of the transaction, the director now directly owns 1,119 shares of the company’s stock, valued at approximately $1,587,178.41. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John L. Hennessy sold 60 shares of the business’s stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $1,363.61, for a total transaction of $81,816.60. Following the completion of the sale, the director now directly owns 592 shares in the company, valued at approximately $807,257.12. The disclosure for this sale can be found here. Insiders sold a total of 212 shares of company stock worth $303,047 in the last three months. Company insiders own 12.99% of the company’s stock.

Several institutional investors have recently bought and sold shares of the company. Advisor Group Holdings Inc. acquired a new position in shares of Alphabet during the 1st quarter worth approximately $73,436,000. Copper Rock Capital Partners LLC lifted its stake in Alphabet by 6,302.5% in the second quarter. Copper Rock Capital Partners LLC now owns 594,344 shares of the information services provider’s stock valued at $798,166,000 after acquiring an additional 585,061 shares during the last quarter. Baupost Group LLC MA bought a new position in shares of Alphabet in the 1st quarter valued at about $349,424,000. BlackRock Inc. raised its holdings in shares of Alphabet by 1.5% in the 1st quarter. BlackRock Inc. now owns 20,264,225 shares of the information services provider’s stock valued at $23,563,444,000 after purchasing an additional 295,467 shares during the period. Finally, Capital International Investors lifted its stake in Alphabet by 5.0% in the 1st quarter. Capital International Investors now owns 4,555,880 shares of the information services provider’s stock valued at $5,297,617,000 after purchasing an additional 218,823 shares during the last quarter. Institutional investors own 32.91% of the company’s stock.

About Alphabet

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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