Alphabet (GOOG) Receives Neutral Rating from Morningstar

Alphabet (NASDAQ:GOOG)‘s stock had its “neutral” rating reiterated by investment analysts at Morningstar in a report released on Friday.

Other research analysts have also issued research reports about the stock. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of Alphabet in a research report on Friday, October 27th. Deutsche Bank reaffirmed a “buy” rating on shares of Alphabet in a research report on Wednesday, October 25th. Goldman Sachs Group reaffirmed a “buy” rating on shares of Alphabet in a research report on Friday, October 20th. Morgan Stanley reaffirmed a “buy” rating on shares of Alphabet in a research report on Friday, September 29th. Finally, Bank of America reaffirmed a “buy” rating and set a $1,100.00 price objective on shares of Alphabet in a research report on Tuesday, September 26th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, thirty-seven have given a buy rating and one has issued a strong buy rating to the company. Alphabet currently has a consensus rating of “Buy” and a consensus target price of $1,052.31.

Shares of Alphabet (NASDAQ GOOG) traded up $3.51 on Friday, hitting $1,133.30. 367,002 shares of the stock were exchanged, compared to its average volume of 1,218,117. The firm has a market capitalization of $790,740.00, a price-to-earnings ratio of 37.75 and a beta of 0.94. The company has a debt-to-equity ratio of 0.03, a current ratio of 5.77 and a quick ratio of 5.73. Alphabet has a 1-year low of $790.52 and a 1-year high of $1,139.91.

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

In other Alphabet news, CEO Sundar Pichai sold 4,000 shares of the stock in a transaction on Wednesday, January 17th. The shares were sold at an average price of $1,127.17, for a total value of $4,508,680.00. Following the sale, the chief executive officer now directly owns 656 shares in the company, valued at $739,423.52. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Ann Mather sold 38 shares of the stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $1,017.21, for a total transaction of $38,653.98. Following the completion of the sale, the director now owns 1,805 shares in the company, valued at $1,836,064.05. The disclosure for this sale can be found here. Over the last quarter, insiders sold 36,900 shares of company stock worth $38,411,507. Company insiders own 13.92% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Gibraltar Capital Management Inc. raised its holdings in shares of Alphabet by 4.5% during the second quarter. Gibraltar Capital Management Inc. now owns 5,226 shares of the information services provider’s stock worth $4,749,000 after acquiring an additional 223 shares during the period. RB Capital Management LLC raised its holdings in shares of Alphabet by 9.2% during the second quarter. RB Capital Management LLC now owns 1,335 shares of the information services provider’s stock worth $1,213,000 after acquiring an additional 112 shares during the period. Iberiabank Corp raised its holdings in shares of Alphabet by 20.0% during the second quarter. Iberiabank Corp now owns 1,601 shares of the information services provider’s stock worth $1,455,000 after acquiring an additional 267 shares during the period. Capital Investment Advisors LLC raised its holdings in shares of Alphabet by 4.5% during the second quarter. Capital Investment Advisors LLC now owns 1,560 shares of the information services provider’s stock worth $1,418,000 after acquiring an additional 67 shares during the period. Finally, New England Research & Management Inc. raised its holdings in shares of Alphabet by 3.3% during the second quarter. New England Research & Management Inc. now owns 782 shares of the information services provider’s stock worth $711,000 after acquiring an additional 25 shares during the period. Institutional investors own 34.65% of the company’s stock.

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About Alphabet

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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