Alphabet (GOOG) Stock Rating Upgraded by BidaskClub

Alphabet (NASDAQ:GOOG) was upgraded by investment analysts at BidaskClub from a “hold” rating to a “buy” rating in a research note issued to investors on Friday.

A number of other research firms also recently issued reports on GOOG. Deutsche Bank restated a “buy” rating on shares of Alphabet in a research note on Monday, January 29th. Morgan Stanley restated a “buy” rating on shares of Alphabet in a research note on Friday, January 26th. JPMorgan Chase restated a “buy” rating on shares of Alphabet in a research note on Friday, February 2nd. Jefferies Group restated a “buy” rating on shares of Alphabet in a research note on Friday, February 2nd. Finally, Atlantic Securities restated a “buy” rating on shares of Alphabet in a research note on Friday, February 2nd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and thirty-five have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $1,088.68.

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Alphabet stock opened at $1,072.96 on Friday. The firm has a market capitalization of $745,474.38, a price-to-earnings ratio of 33.52 and a beta of 1.08. Alphabet has a 12 month low of $840.60 and a 12 month high of $1,186.89. The company has a debt-to-equity ratio of 0.03, a current ratio of 5.14 and a quick ratio of 5.11.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Thursday, February 1st. The information services provider reported $9.70 EPS for the quarter, missing the Zacks’ consensus estimate of $10.07 by ($0.37). The business had revenue of $32.32 billion during the quarter, compared to the consensus estimate of $31.88 billion. Alphabet had a return on equity of 14.94% and a net margin of 11.42%. The firm’s revenue for the quarter was up 24.0% on a year-over-year basis. During the same period in the previous year, the business posted $9.36 EPS.

Alphabet announced that its board has approved a share buyback plan on Thursday, February 1st that allows the company to buyback $8.59 billion in outstanding shares. This buyback authorization allows the information services provider to purchase shares of its stock through open market purchases. Shares buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

In other Alphabet news, CEO Sundar Pichai sold 4,000 shares of the firm’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $1,018.01, for a total transaction of $4,072,040.00. Following the sale, the chief executive officer now directly owns 967 shares of the company’s stock, valued at $984,415.67. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP David C. Drummond sold 5,690 shares of the firm’s stock in a transaction dated Monday, March 12th. The shares were sold at an average price of $1,164.43, for a total value of $6,625,606.70. Following the sale, the senior vice president now directly owns 2,897 shares in the company, valued at $3,373,353.71. The disclosure for this sale can be found here. Over the last three months, insiders have sold 54,410 shares of company stock worth $58,408,136. Insiders own 13.92% of the company’s stock.

Several hedge funds have recently modified their holdings of GOOG. Janus Henderson Group PLC increased its holdings 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 purchasing an additional 2,831,099 shares during the last quarter. Koch Industries Inc. increased its holdings 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 purchasing an additional 1,161,184 shares during the last quarter. BlackRock Inc. increased its holdings 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 purchasing an additional 826,480 shares during the last quarter. Capital World Investors increased its holdings 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 purchasing an additional 776,853 shares during the last quarter. Finally, Vanguard Group Inc. increased its holdings in shares of Alphabet by 3.0% in the second quarter. Vanguard Group Inc. now owns 20,440,038 shares of the information services provider’s stock worth $18,574,476,000 after purchasing an additional 589,654 shares during the last quarter. 34.84% of the stock is currently owned by hedge funds and other institutional investors.

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Alphabet Company Profile

Alphabet Inc, through its subsidiaries, provides online advertising services in the United States and internationally. The company offers performance and brand advertising services. It operates through Google and Other Bets segments. The Google segment includes principal Internet products, such as Ads, Android, Chrome, Commerce, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure and newer efforts, including Virtual Reality.

Analyst Recommendations for Alphabet (NASDAQ:GOOG)

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