Nomura Reiterates Buy Rating for Alphabet (GOOG)

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Alphabet (NASDAQ:GOOG)‘s stock had its “buy” rating reissued by research analysts at Nomura in a research report issued to clients and investors on Monday.

GOOG has been the topic of several other research reports. Oppenheimer restated a “buy” rating on shares of Alphabet in a research note on Wednesday, July 25th. Barclays reiterated a “buy” rating on shares of Alphabet in a research note on Friday, October 26th. Cowen upped their price objective on Alphabet from $1,245.00 to $1,350.00 and gave the stock an “outperform” rating in a research note on Friday, July 13th. Morgan Stanley reiterated a “buy” rating on shares of Alphabet in a research note on Tuesday, July 24th. Finally, Wedbush started coverage on Alphabet in a research note on Wednesday, October 17th. They set an “outperform” rating on the stock. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-nine have assigned a buy rating to the stock. Alphabet has a consensus rating of “Buy” and an average target price of $1,301.81.

NASDAQ GOOG opened at $1,036.21 on Monday. The company has a market capitalization of $745.69 billion, a price-to-earnings ratio of 22.95 and a beta of 1.11. The company has a current ratio of 4.14, a quick ratio of 4.10 and a debt-to-equity ratio of 0.02. Alphabet has a 52 week low of $980.64 and a 52 week high of $1,273.89.

Alphabet (NASDAQ:GOOG) last released its earnings results on Thursday, October 25th. The information services provider reported $13.06 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $10.41 by $2.65. The firm had revenue of $27.16 billion for the quarter. Alphabet had a return on equity of 19.40% and a net margin of 14.45%.

In related news, Director L John Doerr sold 10,262 shares of the business’s stock in a transaction that occurred on Wednesday, August 15th. The stock was sold at an average price of $1,218.20, for a total transaction of $12,501,168.40. Following the transaction, the director now directly owns 3,485 shares of the company’s stock, valued at approximately $4,245,427. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP David C. Drummond sold 5,690 shares of the business’s stock in a transaction that occurred on Monday, August 13th. The stock was sold at an average price of $1,244.09, for a total value of $7,078,872.10. Following the transaction, the senior vice president now directly owns 41,234 shares in the company, valued at $51,298,807.06. The disclosure for this sale can be found here. Insiders have sold a total of 77,621 shares of company stock worth $91,938,840 over the last three months. 13.11% of the stock is owned by insiders.

Hedge funds have recently bought and sold shares of the stock. Ironwood Financial llc increased its holdings in shares of Alphabet by 111.1% during the 3rd quarter. Ironwood Financial llc now owns 95 shares of the information services provider’s stock worth $113,000 after acquiring an additional 50 shares during the last quarter. Braun Bostich & Associates Inc. acquired a new position in shares of Alphabet during the 1st quarter worth approximately $107,000. Litman Gregory Asset Management LLC acquired a new position in shares of Alphabet during the 1st quarter worth approximately $113,000. Patton Albertson Miller Group LLC acquired a new position in shares of Alphabet during the 3rd quarter worth approximately $116,000. Finally, ELM Advisors LLC acquired a new position in shares of Alphabet during the 3rd quarter worth approximately $138,000. 34.16% of the stock is currently owned by institutional investors and hedge funds.

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.

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Analyst Recommendations for Alphabet (NASDAQ:GOOG)

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