Brokerages Set Alphabet Inc. (NASDAQ:GOOG) PT at $2,225.00

Shares of Alphabet Inc. (NASDAQ:GOOG) have earned an average rating of “Buy” from the twenty-five brokerages that are covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a hold rating and twenty-one have given a buy rating to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $2,260.50.

Several brokerages recently issued reports on GOOG. JPMorgan Chase & Co. reaffirmed a “buy” rating and set a $2,390.00 price target (up from $2,050.00) on shares of Alphabet in a report on Wednesday, February 3rd. Zacks Investment Research raised shares of Alphabet from a “hold” rating to a “buy” rating and set a $2,493.00 price target on the stock in a report on Wednesday. Credit Suisse Group reaffirmed a “buy” rating on shares of Alphabet in a report on Wednesday, February 3rd. Citigroup reaffirmed a “buy” rating on shares of Alphabet in a report on Friday, February 12th. Finally, Wolfe Research began coverage on shares of Alphabet in a report on Wednesday, March 31st. They set an “outperform” rating and a $2,450.00 target price on the stock.

In other news, CEO Sundar Pichai sold 3,000 shares of the company’s stock in a transaction on Wednesday, March 3rd. The shares were sold at an average price of $2,068.50, for a total value of $6,205,500.00. Following the sale, the chief executive officer now directly owns 6,757 shares of the company’s stock, valued at approximately $13,976,854.50. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Prabhakar Raghavan sold 2,524 shares of the company’s stock in a transaction on Monday, April 5th. The shares were sold at an average price of $2,152.94, for a total transaction of $5,434,020.56. Following the completion of the sale, the senior vice president now directly owns 2 shares in the company, valued at $4,305.88. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 14,034 shares of company stock worth $28,870,417. Insiders own 12.99% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD lifted its position in shares of Alphabet by 0.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 13,443,194 shares of the information services provider’s stock valued at $23,550,863,000 after acquiring an additional 46,822 shares during the period. FMR LLC lifted its position in shares of Alphabet by 0.9% during the 4th quarter. FMR LLC now owns 7,753,822 shares of the information services provider’s stock valued at $13,583,766,000 after acquiring an additional 66,564 shares during the period. Nuveen Asset Management LLC lifted its position in shares of Alphabet by 2.6% during the 4th quarter. Nuveen Asset Management LLC now owns 2,888,003 shares of the information services provider’s stock valued at $5,059,434,000 after acquiring an additional 73,880 shares during the period. JPMorgan Chase & Co. lifted its position in shares of Alphabet by 4.0% during the 4th quarter. JPMorgan Chase & Co. now owns 2,789,377 shares of the information services provider’s stock valued at $4,886,654,000 after acquiring an additional 106,316 shares during the period. Finally, Morgan Stanley lifted its position in shares of Alphabet by 6.5% during the 4th quarter. Morgan Stanley now owns 2,509,483 shares of the information services provider’s stock valued at $4,396,316,000 after acquiring an additional 152,485 shares during the period. Institutional investors own 31.94% of the company’s stock.

Shares of NASDAQ:GOOG traded up $21.31 during midday trading on Monday, hitting $2,270.99. The stock had a trading volume of 12,678 shares, compared to its average volume of 1,599,775. The company has a market capitalization of $1.53 trillion, a P/E ratio of 43.47, a price-to-earnings-growth ratio of 1.66 and a beta of 0.98. The company has a quick ratio of 3.39, a current ratio of 3.41 and a debt-to-equity ratio of 0.07. The company’s 50-day moving average price is $2,078.40 and its 200-day moving average price is $1,819.99. Alphabet has a fifty-two week low of $1,187.60 and a fifty-two week high of $2,255.00.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Monday, February 1st. The information services provider reported $22.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $15.91 by $6.39. The company had revenue of $56.90 billion for the quarter, compared to analyst estimates of $52.86 billion. Alphabet had a net margin of 20.80% and a return on equity of 17.31%. The firm’s revenue was up 23.5% on a year-over-year basis. During the same period in the previous year, the firm posted $15.35 EPS. Research analysts expect that Alphabet will post 52.19 EPS for the current fiscal year.

About Alphabet

Alphabet Inc provides online advertising services in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. The company offers performance and brand advertising services. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment provides products and services, such as ads, Android, Chrome, hardware, Google Maps, Google Play, Search, and YouTube, as well as technical infrastructure; and digital content.

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