Alphabet (NASDAQ: GOOG) shares received a consensus ‘buy’ recommendation from 24 brokerages. 2 analysts assigned a ‘hold’ recommendation and 19 allotted ‘buy’. They have a $2,207.69 average price objective for 1 year.
On Thursday, the company started from $2,055.03 with the market cap being $1.39T. Their lowest in 52 weeks is $1,749.82 while the highest is $2,152.68. Their current, quick, leverage ratio is 3.41, 3.39, and 0.07. Their 50 day rolling average is $2,020.17 while the 200 day is $1,013.54.
According to their 1st February report, their quarterly EPS was $22.30, exceeding the $15.91 consensus estimate by nearly $6.39. They had a 20.80% net margin with a 17.31% equity return. Their revenue was $56.90B, surpassing the $52.86B estimate.
GOOG Stock Exceeding Market Expectations
Deutsche Bank raised the price objective for GOOG shares to $2,600 from $2,250 and gave a rating of ‘buy’. Raymond James upgraded it to $2,440 from $1,800 and gave a rating of ‘outperform’. Morgan Stanley lifted it to $2,200 from $2,050 and gave a rating of ‘overweight’. Zacks demoted the rating to ‘hold’ from ‘buy’ while Credit Suisse reassigned it ‘buy’ recommendation.
Ann Mather, a Director, sold off 52 shares at $1,757.54 worth $91,392.08. John Hennessey, a Director, sold off 70 GOOG shares at $2,083.46 worth $145,842.20. Insiders own 12.99% Alphabet stock.
FMR raised their stake by almost 0.9% and own shares priced at $13,583,766,000. Nuveen Management increased its position by nearly 2.6%, owning $5,059,434,000 worth of shares. Price Associates upgraded their holdings on Alphabet stock by roughly 0.3%, owning $23,550,863,000 worth of shares. Morgan Stanley upped their position by roughly 6.5%, owning $4,396,316,000 worth of shares. JPMorgan Chase and Co upped their stake by approximately 4%, owning shares priced at $4,886,654,000. 31.94% of the stock is owned by institutional investors.
The multinational company is a provider of advertising services. It is also the parent company of the giant Google. The umbrella company Google also includes services such as YouTube, Google Chrome as well as Android among many others.
