Alphabet (NASDAQ:GOOG) Research Coverage Started at KeyCorp

KeyCorp started coverage on shares of Alphabet (NASDAQ:GOOG) in a report published on Monday morning, The Fly reports. The brokerage issued an overweight rating on the information services provider’s stock.

GOOG has been the subject of several other research reports. Raymond James upped their price target on shares of Alphabet from $1,425.00 to $1,700.00 and gave the company an outperform rating in a research report on Friday, July 31st. Stifel Nicolaus lowered Alphabet from a buy rating to a hold rating in a research note on Friday, July 31st. BidaskClub lowered Alphabet from a buy rating to a hold rating in a research note on Wednesday, September 9th. Deutsche Bank lifted their target price on Alphabet from $1,700.00 to $1,975.00 and gave the company a buy rating in a research note on Tuesday, July 28th. Finally, Credit Suisse Group reissued a buy rating on shares of Alphabet in a report on Friday, July 31st. Five equities research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus price target of $1,688.62.

Shares of GOOG stock opened at $1,520.90 on Monday. Alphabet has a 12 month low of $1,013.54 and a 12 month high of $1,733.18. The stock has a market cap of $1,034.46 billion, a PE ratio of 33.45, a price-to-earnings-growth ratio of 2.10 and a beta of 1.07. The company has a current ratio of 3.41, a quick ratio of 3.40 and a debt-to-equity ratio of 0.02. The company’s fifty day moving average price is $1,550.68 and its 200-day moving average price is $1,396.32.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Thursday, July 30th. The information services provider reported $10.13 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $8.43 by $1.70. The company had revenue of $31.60 billion for the quarter, compared to analysts’ expectations of $30.58 billion. Alphabet had a net margin of 18.99% and a return on equity of 15.62%. On average, sell-side analysts forecast that Alphabet will post 44.74 earnings per share for the current fiscal year.

In related news, Director John L. Hennessy sold 60 shares of the firm’s stock in a transaction that occurred on Tuesday, September 8th. The stock was sold at an average price of $1,538.29, for a total transaction of $92,297.40. Following the transaction, the director now owns 517 shares in the company, valued at approximately $795,295.93. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 12.99% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in GOOG. Schonfeld Strategic Advisors LLC increased its holdings in shares of Alphabet by 1,689.8% in the second quarter. Schonfeld Strategic Advisors LLC now owns 5,781 shares of the information services provider’s stock valued at $8,172,000 after purchasing an additional 5,458 shares in the last quarter. Elevated Capital Advisors LLC acquired a new stake in shares of Alphabet in the second quarter valued at approximately $981,000. Capital Advisors Inc. OK increased its holdings in shares of Alphabet by 6.2% in the second quarter. Capital Advisors Inc. OK now owns 17,591 shares of the information services provider’s stock valued at $26,388,000 after purchasing an additional 1,026 shares in the last quarter. Garde Capital Inc. increased its holdings in shares of Alphabet by 4.9% in the second quarter. Garde Capital Inc. now owns 2,482 shares of the information services provider’s stock valued at $3,509,000 after purchasing an additional 117 shares in the last quarter. Finally, PNC Financial Services Group Inc. increased its holdings in shares of Alphabet by 0.5% in the second quarter. PNC Financial Services Group Inc. now owns 187,143 shares of the information services provider’s stock valued at $264,548,000 after purchasing an additional 958 shares in the last quarter. Hedge funds and other institutional investors own 32.42% 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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