Alphabet’s (GOOGL) “Buy” Rating Reaffirmed at DZ Bank

Alphabet (NASDAQ:GOOGLGet Free Report)‘s stock had its “buy” rating reissued by analysts at DZ Bank in a note issued to investors on Monday,MarketScreener reports.

Other research analysts also recently issued reports about the company. Wolfe Research lifted their target price on Alphabet from $380.00 to $390.00 and gave the stock an “outperform” rating in a report on Friday, January 23rd. Loop Capital upgraded shares of Alphabet from a “hold” rating to a “buy” rating and upped their price objective for the company from $260.00 to $320.00 in a report on Tuesday, November 18th. Pivotal Research boosted their target price on shares of Alphabet from $400.00 to $420.00 and gave the stock a “buy” rating in a research report on Thursday, February 5th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $370.00 price target on shares of Alphabet in a research report on Thursday, February 5th. Finally, Bank of America increased their price objective on Alphabet from $335.00 to $370.00 and gave the stock a “buy” rating in a research note on Tuesday, January 13th. Three equities research analysts have rated the stock with a Strong Buy rating, forty-four have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $361.64.

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Alphabet Stock Down 1.1%

GOOGL stock opened at $305.72 on Monday. The company has a quick ratio of 2.01, a current ratio of 2.01 and a debt-to-equity ratio of 0.11. The company has a market cap of $3.70 trillion, a PE ratio of 28.28, a price-to-earnings-growth ratio of 1.79 and a beta of 1.09. The business has a 50-day simple moving average of $321.19 and a 200 day simple moving average of $275.51. Alphabet has a 52 week low of $140.53 and a 52 week high of $349.00.

Alphabet (NASDAQ:GOOGLGet Free Report) last released its quarterly earnings data on Wednesday, February 4th. The information services provider reported $2.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.57 by $0.25. Alphabet had a net margin of 32.81% and a return on equity of 35.01%. The business had revenue of $113.83 billion during the quarter, compared to analysts’ expectations of $111.24 billion. Sell-side analysts anticipate that Alphabet will post 8.9 EPS for the current fiscal year.

Insiders Place Their Bets

In other Alphabet news, major shareholder 2017 Gp L.L.C. Gv sold 1,845,308 shares of the company’s stock in a transaction dated Friday, January 30th. The shares were sold at an average price of $19.00, for a total transaction of $35,060,852.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Amie Thuener O’toole sold 933 shares of Alphabet stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $336.55, for a total transaction of $314,001.15. Following the completion of the transaction, the chief accounting officer owned 9,916 shares of the company’s stock, valued at $3,337,229.80. The trade was a 8.60% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 2,064,308 shares of company stock valued at $104,383,469. Company insiders own 11.55% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Financial Gravity Companies Inc. purchased a new position in Alphabet during the 2nd quarter valued at about $31,000. PMV Capital Advisers LLC bought a new position in Alphabet in the 4th quarter valued at $38,000. IFC & Insurance Marketing Inc. purchased a new position in shares of Alphabet during the 4th quarter valued at $38,000. Bard Associates Inc. purchased a new stake in shares of Alphabet in the fourth quarter worth $52,000. Finally, Pilgrim Partners Asia Pte Ltd bought a new stake in Alphabet during the third quarter valued at $53,000. 40.03% of the stock is owned by institutional investors.

More Alphabet News

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Alphabet Company Profile

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Alphabet Inc is the holding company created in 2015 to organize Google and a portfolio of businesses developing technologies beyond Google’s core internet services. Its principal operations are led by Google, which builds and operates consumer-facing products such as Google Search, YouTube, Android, Chrome, Gmail, Google Maps and Google Workspace, as well as advertising platforms (Google Ads and AdSense) that historically generate the majority of its revenue. Google also develops consumer hardware (Pixel phones, Nest smart-home devices, Chromecast) and developer and distribution platforms such as Google Play.

Beyond Google’s consumer and advertising businesses, Alphabet invests in enterprise and infrastructure offerings through Google Cloud, which provides cloud computing, data analytics and productivity services to businesses and institutions.

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