Alphabet (NASDAQ:GOOGL) Stock Rating Upgraded by Phillip Securities

Alphabet (NASDAQ:GOOGL) was upgraded by research analysts at Phillip Securities to a “strong-buy” rating in a report released on Friday, Zacks.com reports.

A number of other analysts also recently issued reports on GOOGL. The Goldman Sachs Group decreased their price target on Alphabet from $217.00 to $208.00 and set a “buy” rating for the company in a report on Monday, October 14th. Wolfe Research assumed coverage on shares of Alphabet in a report on Tuesday, July 16th. They set an “outperform” rating and a $240.00 price objective on the stock. JMP Securities upped their target price on shares of Alphabet from $200.00 to $220.00 and gave the company a “market outperform” rating in a report on Wednesday, October 30th. Tigress Financial boosted their price target on shares of Alphabet from $210.00 to $220.00 and gave the company a “strong-buy” rating in a research report on Thursday, September 26th. Finally, Citigroup upped their price objective on shares of Alphabet from $190.00 to $212.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Seven analysts have rated the stock with a hold rating, thirty-one have given a buy rating and five have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $205.51.

Alphabet Trading Down 1.2 %

NASDAQ:GOOGL opened at $169.24 on Friday. Alphabet has a 12-month low of $127.90 and a 12-month high of $191.75. The firm has a market cap of $2.08 trillion, a PE ratio of 22.45, a price-to-earnings-growth ratio of 1.22 and a beta of 1.03. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04. The stock has a fifty day moving average price of $162.49 and a 200 day moving average price of $169.20.

Alphabet (NASDAQ:GOOGL) last issued its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, beating the consensus estimate of $1.83 by $0.29. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The firm had revenue of $88.27 billion for the quarter, compared to analysts’ expectations of $72.85 billion. During the same quarter last year, the company earned $1.55 earnings per share. Sell-side analysts anticipate that Alphabet will post 7.99 earnings per share for the current fiscal year.

Insider Transactions at Alphabet

In other Alphabet news, Director Frances Arnold sold 441 shares of the company’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $171.06, for a total value of $75,437.46. Following the sale, the director now owns 16,490 shares of the company’s stock, valued at $2,820,779.40. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $160.44, for a total value of $109,420.08. Following the transaction, the chief accounting officer now directly owns 32,017 shares in the company, valued at approximately $5,136,807.48. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Frances Arnold sold 441 shares of Alphabet stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $171.06, for a total transaction of $75,437.46. Following the sale, the director now owns 16,490 shares of the company’s stock, valued at approximately $2,820,779.40. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 232,052 shares of company stock valued at $38,086,723 in the last 90 days. 11.55% of the stock is currently owned by insiders.

Institutional Trading of Alphabet

Hedge funds and other institutional investors have recently bought and sold shares of the company. International Assets Investment Management LLC lifted its holdings in shares of Alphabet by 43,005.6% during the 3rd quarter. International Assets Investment Management LLC now owns 18,743,594 shares of the information services provider’s stock worth $31,086,250,000 after acquiring an additional 18,700,111 shares during the period. SG Americas Securities LLC boosted its holdings in shares of Alphabet by 587.4% in the 3rd quarter. SG Americas Securities LLC now owns 10,690,326 shares of the information services provider’s stock valued at $1,772,991,000 after purchasing an additional 9,135,056 shares during the last quarter. Capital Research Global Investors grew its stake in shares of Alphabet by 14.4% during the 1st quarter. Capital Research Global Investors now owns 57,803,291 shares of the information services provider’s stock valued at $8,724,251,000 after buying an additional 7,275,757 shares during the period. Assenagon Asset Management S.A. raised its position in shares of Alphabet by 116.4% in the 3rd quarter. Assenagon Asset Management S.A. now owns 8,670,225 shares of the information services provider’s stock worth $1,437,957,000 after buying an additional 4,662,809 shares during the period. Finally, Wulff Hansen & CO. boosted its holdings in Alphabet by 18,810.2% in the second quarter. Wulff Hansen & CO. now owns 4,434,260 shares of the information services provider’s stock valued at $807,700,000 after acquiring an additional 4,410,811 shares during the last quarter. 40.03% of the stock is owned by hedge funds and other institutional investors.

Alphabet Company Profile

Alphabet Inc offers various products and platforms in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment provides products and services, including ads, Android, Chrome, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.