Alphabet’s (GOOG) “Outperform” Rating Reaffirmed at Wedbush

Wedbush reiterated their outperform rating on shares of Alphabet (NASDAQ:GOOG) in a research report sent to investors on Thursday,RTT News reports. They currently have a $220.00 target price on the information services provider’s stock.

Other equities research analysts have also issued reports about the company. Citigroup increased their target price on Alphabet from $212.00 to $216.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Barclays increased their price objective on shares of Alphabet from $200.00 to $220.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Wells Fargo & Company boosted their target price on shares of Alphabet from $182.00 to $187.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Phillip Securities upgraded shares of Alphabet to a “strong-buy” rating in a research note on Friday, November 1st. Finally, JPMorgan Chase & Co. boosted their price objective on Alphabet from $208.00 to $212.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Six research analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $206.69.

Alphabet Trading Up 2.8 %

NASDAQ GOOG opened at $202.63 on Thursday. The firm has a market capitalization of $2.48 trillion, a PE ratio of 26.87, a price-to-earnings-growth ratio of 1.27 and a beta of 0.99. Alphabet has a one year low of $131.55 and a one year high of $203.84. The company has a 50-day simple moving average of $189.03 and a 200-day simple moving average of $175.35. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, beating the consensus estimate of $1.83 by $0.29. The company had revenue of $88.27 billion during the quarter, compared to analyst estimates of $86.39 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The business’s revenue was up 15.1% compared to the same quarter last year. During the same period in the prior year, the company earned $1.55 earnings per share. On average, equities analysts forecast that Alphabet will post 8.02 earnings per share for the current year.

Insiders Place Their Bets

In other Alphabet news, CAO Amie Thuener O’toole sold 1,367 shares of the company’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $170.41, for a total value of $232,950.47. Following the transaction, the chief accounting officer now owns 23,515 shares of the company’s stock, valued at approximately $4,007,191.15. This represents a 5.49 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Frances Arnold sold 441 shares of the firm’s stock in a transaction on Monday, November 4th. The stock was sold at an average price of $171.06, for a total value of $75,437.46. Following the sale, the director now directly owns 16,490 shares of the company’s stock, valued at approximately $2,820,779.40. This represents a 2.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 121,630 shares of company stock worth $22,258,133. 12.99% of the stock is owned by corporate insiders.

Institutional Trading of Alphabet

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Fiduciary Advisors Inc. acquired a new stake in shares of Alphabet during the fourth quarter valued at approximately $27,000. Weiss Asset Management LP acquired a new stake in Alphabet during the 3rd quarter valued at $25,000. Safe Harbor Fiduciary LLC purchased a new stake in shares of Alphabet in the third quarter valued at $33,000. Sanctuary Wealth Management L.L.C. boosted its position in shares of Alphabet by 87.3% in the third quarter. Sanctuary Wealth Management L.L.C. now owns 251 shares of the information services provider’s stock worth $42,000 after buying an additional 117 shares during the period. Finally, Maryland Capital Advisors Inc. grew its holdings in shares of Alphabet by 33.0% during the fourth quarter. Maryland Capital Advisors Inc. now owns 266 shares of the information services provider’s stock valued at $51,000 after buying an additional 66 shares in the last quarter. Institutional investors and hedge funds own 27.26% of the company’s stock.

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.