Brokerages Set Alphabet Inc (NASDAQ:GOOG) Target Price at $1,700.28

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Shares of Alphabet Inc (NASDAQ:GOOG) have been given a consensus rating of “Buy” by the thirty-two research firms that are presently covering the company, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $1,705.61.

Several research analysts have weighed in on GOOG shares. Robert W. Baird boosted their price target on Alphabet from $1,650.00 to $1,675.00 in a research report on Friday, July 31st. Oppenheimer lifted their target price on Alphabet from $1,445.00 to $1,685.00 and gave the stock an “outperform” rating in a research note on Friday, July 31st. KeyCorp started coverage on Alphabet in a research note on Monday, September 14th. They set an “overweight” rating for the company. Jefferies Financial Group reiterated a “buy” rating on shares of Alphabet in a research note on Monday, October 12th. Finally, UBS Group reiterated a “buy” rating and set a $1,970.00 target price (up from $1,600.00) on shares of Alphabet in a research note on Tuesday, August 25th.

In other Alphabet news, Director Ann Mather sold 22 shares of the stock in a transaction dated Thursday, October 1st. The shares were sold at an average price of $1,484.27, for a total transaction of $32,653.94. Following the sale, the director now directly owns 1,134 shares in the company, valued at $1,683,162.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director John L. Hennessy sold 60 shares of the stock in a transaction dated Monday, October 5th. The stock was sold at an average price of $1,473.43, for a total transaction of $88,405.80. Following the sale, the director now owns 548 shares in the company, valued at $807,439.64. The disclosure for this sale can be found here. Insiders have sold 142 shares of company stock worth $213,357 over the last quarter. Corporate insiders own 12.99% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of GOOG. Chelsea Counsel Co. boosted its position in Alphabet by 6.4% during the 1st quarter. Chelsea Counsel Co. now owns 4,759 shares of the information services provider’s stock worth $5,534,000 after buying an additional 285 shares during the period. Verition Fund Management LLC acquired a new stake in Alphabet during the 2nd quarter worth approximately $11,845,000. Adams Asset Advisors LLC acquired a new stake in Alphabet during the 2nd quarter worth approximately $1,484,000. Telemus Capital LLC boosted its position in Alphabet by 2.6% during the 2nd quarter. Telemus Capital LLC now owns 7,909 shares of the information services provider’s stock worth $12,193,000 after buying an additional 198 shares during the period. Finally, Mercer Global Advisors Inc. ADV boosted its position in Alphabet by 11.9% during the 1st quarter. Mercer Global Advisors Inc. ADV now owns 7,487 shares of the information services provider’s stock worth $8,706,000 after buying an additional 798 shares during the period. Institutional investors own 32.42% of the company’s stock.

Shares of NASDAQ:GOOG traded up $13.88 during trading on Monday, hitting $1,573.01. 1,435,137 shares of the company were exchanged, compared to its average volume of 1,946,069. The stock has a market cap of $1,069.90 billion, a price-to-earnings ratio of 34.59, a P/E/G ratio of 2.16 and a beta of 1.10. Alphabet has a fifty-two week low of $1,013.54 and a fifty-two week high of $1,733.18. The firm has a fifty day moving average price of $1,525.61 and a two-hundred day moving average price of $1,436.75. The company has a current ratio of 3.41, a quick ratio of 3.40 and a debt-to-equity ratio of 0.02.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Thursday, July 30th. The information services provider reported $10.13 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $8.43 by $1.70. The firm had revenue of $31.60 billion for the quarter, compared to analyst estimates of $30.58 billion. Alphabet had a return on equity of 15.62% and a net margin of 18.99%. As a group, research analysts predict that Alphabet will post 44.84 EPS for the current year.

Alphabet Company Profile

Alphabet Inc provides online advertising services in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It offers performance and brand advertising services. The company operates through Google and Other Bets segments. The Google segment offers products, such as Ads, Android, Chrome, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure.

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Analyst Recommendations for Alphabet (NASDAQ:GOOG)

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