Alphabet (NASDAQ:GOOGL) Given Buy Rating at Barclays

Alphabet (NASDAQ:GOOGL)‘s stock had its “buy” rating restated by analysts at Barclays in a research note issued to investors on Friday,MarketScreener reports.

A number of other analysts also recently issued reports on the stock. HSBC raised their price objective on shares of Alphabet from $385.00 to $435.00 and gave the stock a “buy” rating in a report on Thursday, April 30th. CICC Research lifted their price target on shares of Alphabet from $388.00 to $407.91 and gave the stock an “outperform” rating in a report on Friday, May 1st. Freedom Capital lowered Alphabet from a “strong-buy” rating to a “hold” rating in a report on Monday, May 4th. Wells Fargo & Company reissued an “overweight” rating and issued a $435.00 target price (up from $427.00) on shares of Alphabet in a research report on Wednesday, May 20th. Finally, JPMorgan Chase & Co. restated a “buy” rating on shares of Alphabet in a research note on Monday, May 4th. Two investment analysts have rated the stock with a Strong Buy rating, forty-seven have assigned a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, Alphabet presently has a consensus rating of “Moderate Buy” and an average price target of $412.65.

Alphabet Stock Performance

NASDAQ:GOOGL traded down $8.21 during trading on Friday, reaching $381.92. The company’s stock had a trading volume of 7,519,511 shares, compared to its average volume of 31,114,619. The firm has a market cap of $4.63 trillion, a price-to-earnings ratio of 29.21, a price-to-earnings-growth ratio of 1.66 and a beta of 1.26. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.92 and a current ratio of 1.92. The firm has a 50 day moving average of $344.32 and a 200-day moving average of $324.52. Alphabet has a 12 month low of $162.00 and a 12 month high of $408.61.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Wednesday, April 29th. The information services provider reported $5.11 EPS for the quarter, topping analysts’ consensus estimates of $2.64 by $2.47. The company had revenue of $109.90 billion for the quarter, compared to analysts’ expectations of $106.98 billion. Alphabet had a return on equity of 38.99% and a net margin of 37.92%. Research analysts expect that Alphabet will post 14.29 EPS for the current fiscal year.

Insider Transactions at Alphabet

In other news, major shareholder 2019 Gp L.L.C. Gv sold 87,475 shares of Alphabet stock in a transaction on Friday, May 15th. The stock was sold at an average price of $23.75, for a total value of $2,077,531.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John L. Hennessy sold 1,050 shares of the business’s stock in a transaction on Wednesday, April 15th. The shares were sold at an average price of $331.65, for a total value of $348,232.50. Following the sale, the director owned 3,581 shares in the company, valued at approximately $1,187,638.65. The trade was a 22.67% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 226,481 shares of company stock valued at $27,422,061. 11.61% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Alphabet

Several hedge funds and other institutional investors have recently modified their holdings of GOOGL. Lifetime Wealth Management P.C. bought a new stake in Alphabet during the fourth quarter valued at $32,000. EMC Capital Management purchased a new position in Alphabet during the fourth quarter worth about $33,000. PMV Capital Advisers LLC bought a new position in Alphabet in the 4th quarter worth about $38,000. IFC & Insurance Marketing Inc. purchased a new stake in shares of Alphabet in the 4th quarter valued at about $38,000. Finally, Bard Associates Inc. purchased a new stake in shares of Alphabet in the 4th quarter valued at about $52,000. 40.03% of the stock is currently owned by institutional investors.

Key Headlines Impacting Alphabet

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet’s Google Cloud landed a partnership with EQT to help more than 300 portfolio companies accelerate AI adoption, reinforcing Google’s enterprise AI growth story. Reuters: Private equity firm EQT partners with Google Cloud for AI rollout
• Positive Sentiment: Waymo, Alphabet’s autonomous driving unit, continues to gain traction as it expands robotaxi deployments and lowers fleet costs with newer vehicles, supporting the long-term value of Alphabet’s “other bets” segment. CNBC: Waymo opens Ojai robotaxis
• Positive Sentiment: Google is making its AI models cheaper and faster, which could improve adoption and strengthen monetization across search and cloud products. Business Insider: Google has been waiting for this moment
• Positive Sentiment: Alphabet also received a new “Buy” rating from Cantor Fitzgerald, adding to the bullish analyst sentiment around the stock. The Globe and Mail: Alphabet Class A (GOOGL) Gets a Buy from Cantor Fitzgerald

About Alphabet

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.