Alphabet’s (GOOG) “Buy” Rating Reiterated at Morgan Stanley

Alphabet Inc. (NASDAQ:GOOG)‘s stock had its “buy” rating reissued by research analysts at Morgan Stanley in a research note issued to investors on Friday, October 27th.

A number of other analysts have also weighed in on the company. J P Morgan Chase & Co restated a “buy” rating on shares of Alphabet in a report on Friday, October 27th. Deutsche Bank AG restated a “buy” rating on shares of Alphabet in a report on Wednesday, October 25th. Goldman Sachs Group, Inc. (The) reaffirmed a “buy” rating on shares of Alphabet in a research report on Friday, October 20th. Piper Jaffray Companies reaffirmed an “overweight” rating and set a $1,150.00 price target on shares of Alphabet in a research report on Thursday, October 19th. Finally, Pivotal Research upped their price target on Alphabet from $940.00 to $970.00 and gave the stock a “hold” rating in a research report on Thursday, October 12th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and thirty-nine have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $1,047.52.

Alphabet (NASDAQ:GOOG) opened at $1,026.00 on Friday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 5.73 and a current ratio of 5.77. The stock has a market capitalization of $716,660.00, a P/E ratio of 34.42 and a beta of 0.96. Alphabet has a 12-month low of $737.02 and a 12-month high of $1,048.39.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Thursday, October 26th. The information services provider reported $9.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.31 by $1.26. The firm had revenue of $27.77 billion during the quarter, compared to analyst estimates of $27.17 billion. Alphabet had a return on equity of 14.26% and a net margin of 20.09%. Alphabet’s quarterly revenue was up 23.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $9.06 earnings per share.

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In related news, CEO Sundar Pichai sold 4,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 6th. The shares were sold at an average price of $931.44, for a total transaction of $3,725,760.00. Following the transaction, the chief executive officer now owns 1,618 shares of the company’s stock, valued at $1,507,069.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Ann Mather sold 38 shares of the company’s stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $1,017.21, for a total transaction of $38,653.98. Following the transaction, the director now directly owns 1,805 shares in the company, valued at approximately $1,836,064.05. The disclosure for this sale can be found here. In the last three months, insiders have sold 22,158 shares of company stock worth $21,355,239. 13.92% of the stock is owned by insiders.

A number of hedge funds have recently modified their holdings of the stock. Janus Henderson Group PLC increased its position in shares of Alphabet by 759.0% in the second quarter. Janus Henderson Group PLC now owns 3,204,087 shares of the information services provider’s stock worth $2,911,734,000 after acquiring an additional 2,831,099 shares in the last quarter. Harbour Capital Advisors LLC increased its position in shares of Alphabet by 87,001.5% in the second quarter. Harbour Capital Advisors LLC now owns 1,993,754 shares of the information services provider’s stock worth $2,194,000 after acquiring an additional 1,991,465 shares in the last quarter. Koch Industries Inc. increased its position in shares of Alphabet by 214,636.6% in the second quarter. Koch Industries Inc. now owns 1,161,725 shares of the information services provider’s stock worth $1,160,000 after acquiring an additional 1,161,184 shares in the last quarter. BlackRock Inc. increased its position in shares of Alphabet by 4.8% in the second quarter. BlackRock Inc. now owns 18,058,006 shares of the information services provider’s stock worth $16,409,850,000 after acquiring an additional 826,480 shares in the last quarter. Finally, Capital World Investors increased its position in shares of Alphabet by 13.9% in the second quarter. Capital World Investors now owns 6,371,356 shares of the information services provider’s stock worth $5,789,842,000 after acquiring an additional 776,853 shares in the last quarter. 34.28% of the stock is owned by hedge funds and other institutional investors.

Alphabet Company Profile

Alphabet Inc is a holding company. The Company’s businesses include Google Inc (Google) and its Internet products, such as Access, Calico, CapitalG, GV, Nest, Verily, Waymo and X. The Company’s segments include Google and Other Bets. The Google segment includes its Internet products, such as Search, Ads, Commerce, Maps, YouTube, Google Cloud, Android, Chrome and Google Play, as well as its hardware initiatives.

Analyst Recommendations for Alphabet (NASDAQ:GOOG)

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