J P Morgan Chase & Co Reaffirms Buy Rating for Alphabet Inc. (GOOG)

Alphabet Inc. (NASDAQ:GOOG)‘s stock had its “buy” rating reiterated by stock analysts at J P Morgan Chase & Co in a report issued on Friday, October 27th.

A number of other equities research analysts also recently weighed in on GOOG. Credit Suisse Group restated an “outperform” rating on shares of Alphabet in a research report on Friday, June 30th. Robert W. Baird restated an “outperform” rating on shares of Alphabet in a research report on Monday, July 3rd. 

BMO Capital Markets cut shares of Alphabet from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $1,005.00 to $880.00 in a research report on Tuesday, July 4th. Goldman Sachs Group, Inc. 

(The) restated a “buy” rating on shares of Alphabet in a research report on Wednesday, July 5th. Finally, BidaskClub lowered shares of Alphabet from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 5th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and thirty-eight have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $1,045.44.

Shares of Alphabet (GOOG) traded down $6.58 during mid-day trading on Friday, reaching $1,025.90. 1,119,131 shares of the company’s stock were exchanged, compared to its average volume of 1,450,000. Alphabet has a 52-week low of $727.54 and a 52-week high of $1,048.39. The company has a debt-to-equity ratio of 0.03, a current ratio of 5.77 and a quick ratio of 5.73. The firm has a market cap of $721,480.00, a price-to-earnings ratio of 34.57 and a beta of 0.96.

Alphabet (NASDAQ:GOOG) last issued its earnings results on Thursday, October 26th. The information services provider reported $9.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.31 by $1.26. Alphabet had a net margin of 20.09% and a return on equity of 14.26%. The business had revenue of $27.77 billion for the quarter, compared to analyst estimates of $27.17 billion. During the same quarter in the prior year, the business posted $9.06 EPS. The company’s revenue for the quarter was up 23.7% on a year-over-year basis.

In other news, CEO Sundar Pichai sold 4,000 shares of Alphabet stock in a transaction that occurred on Wednesday, August 16th. The shares were sold at an average price of $926.79, for a total transaction of $3,707,160.00. Following the completion of the sale, the chief executive officer now owns 1,389 shares in the company, valued at approximately $1,287,311.31. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

 Also, Director L John Doerr sold 13,556 shares of Alphabet stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $922.15, for a total transaction of $12,500,665.40. Following the sale, the director now owns 3,485 shares of the company’s stock, valued at approximately $3,213,692.75. The disclosure for this sale can be found here. Insiders sold a total of 37,714 shares of company stock valued at $35,728,265 in the last 90 days. Corporate insiders own 13.92% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the stock. Burt Wealth Advisors boosted its stake in Alphabet by 17.2% during the 2nd quarter. Burt Wealth Advisors now owns 136 shares of the information services provider’s stock worth $123,000 after acquiring an additional 20 shares during the last quarter. Signature Estate & Investment Advisors LLC boosted its stake in Alphabet by 3.8% during the 2nd quarter. Signature Estate & Investment Advisors LLC now owns 137 shares of the information services provider’s stock worth $124,000 after acquiring an additional 5 shares during the last quarter. Riggs Asset Managment Co. Inc. boosted its stake in Alphabet by 39.6% during the 2nd quarter. Riggs Asset Managment Co. Inc. now owns 141 shares of the information services provider’s stock worth $128,000 after acquiring an additional 40 shares during the last quarter. 

Farmers National Bank boosted its stake in Alphabet by 15.0% during the 1st quarter. Farmers National Bank now owns 161 shares of the information services provider’s stock worth $134,000 after acquiring an additional 21 shares during the last quarter. Finally, Archford Capital Strategies LLC boosted its stake in Alphabet by 400.0% during the 2nd quarter. Archford Capital Strategies LLC now owns 1,040 shares of the information services provider’s stock worth $139,000 after acquiring an additional 832 shares during the last quarter. 34.50% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Company Profile

Alphabet Inc is a holding company. The Company’s businesses include Google Inc (Google) and its Internet products, such as Access, Calico, CapitalG, GV, Nest, Verily, Waymo and X. The Company’s segments include Google and Other Bets. The Google segment includes its Internet products, such as Search, Ads, Commerce, Maps, YouTube, Google Cloud, Android, Chrome and Google Play, as well as its hardware initiatives