Alphabet’s (GOOGL) Buy Rating Reiterated at Jefferies Financial Group

Alphabet (NASDAQ:GOOGLGet Free Report)‘s stock had its “buy” rating reaffirmed by equities researchers at Jefferies Financial Group in a report released on Monday,MarketScreener reports.

Several other brokerages have also recently commented on GOOGL. President Capital raised their target price on shares of Alphabet from $323.00 to $375.00 and gave the stock a “buy” rating in a report on Tuesday, February 10th. Wolfe Research cut their target price on shares of Alphabet from $390.00 to $360.00 and set an “outperform” rating on the stock in a research report on Friday, April 10th. Truist Financial upped their price target on shares of Alphabet from $385.00 to $415.00 and gave the company a “buy” rating in a research report on Thursday. Wedbush lifted their price target on shares of Alphabet from $360.00 to $370.00 and gave the stock an “outperform” rating in a report on Thursday, February 5th. Finally, Loop Capital increased their price objective on Alphabet from $320.00 to $355.00 and gave the company a “buy” rating in a report on Monday, February 23rd. Two research analysts have rated the stock with a Strong Buy rating, forty-seven have issued a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $400.46.

Get Our Latest Analysis on Alphabet

Alphabet Stock Performance

Shares of NASDAQ GOOGL opened at $382.46 on Monday. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.92 and a quick ratio of 1.92. The firm has a market cap of $4.63 trillion, a price-to-earnings ratio of 29.11, a P/E/G ratio of 1.80 and a beta of 1.26. The stock’s fifty day moving average price is $313.72 and its two-hundred day moving average price is $308.70. Alphabet has a one year low of $147.84 and a one year high of $387.38.

Alphabet (NASDAQ:GOOGLGet Free Report) last released its quarterly 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. Alphabet had a net margin of 37.92% and a return on equity of 38.99%. The business had revenue of $109.90 billion for the quarter, compared to analyst estimates of $106.98 billion. On average, equities analysts forecast that Alphabet will post 12.94 EPS for the current year.

Insider Transactions at Alphabet

In other news, Director Frances Arnold sold 102 shares of the firm’s stock in a transaction that occurred on Thursday, April 30th. The shares were sold at an average price of $371.00, for a total value of $37,842.00. Following the completion of the transaction, the director directly owned 18,621 shares in the company, valued at approximately $6,908,391. This trade represents a 0.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John Kent Walker sold 8,993 shares of the company’s stock in a transaction that occurred on Friday, March 27th. The stock was sold at an average price of $275.89, for a total transaction of $2,481,078.77. Following the sale, the insider directly owned 51,808 shares in the company, valued at $14,293,309.12. This trade represents a 14.79% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 191,053 shares of company stock valued at $58,845,206. Company insiders own 11.61% of the company’s stock.

Institutional Inflows and Outflows

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

Key Stories Impacting Alphabet

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About Alphabet

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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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Analyst Recommendations for Alphabet (NASDAQ:GOOGL)

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