Alphabet (NASDAQ:GOOG) Receives New Coverage from Analysts at Pivotal Research

Research analysts at Pivotal Research started coverage on shares of Alphabet (NASDAQ:GOOG) in a research note issued to investors on Tuesday, Marketbeat Ratings reports. The firm set a “buy” rating and a $215.00 price target on the information services provider’s stock. Pivotal Research’s target price indicates a potential upside of 28.60% from the company’s previous close.

GOOG has been the subject of a number of other reports. Wolfe Research upgraded Alphabet to a “strong-buy” rating in a research report on Tuesday, July 16th. Oppenheimer cut their target price on Alphabet from $210.00 to $185.00 and set an “outperform” rating for the company in a research note on Wednesday, September 25th. DA Davidson upgraded Alphabet to a “hold” rating in a report on Tuesday, September 10th. Cantor Fitzgerald raised shares of Alphabet to a “hold” rating in a report on Thursday, September 5th. Finally, Rosenblatt Securities downgraded shares of Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 target price on the stock. in a research note on Friday, June 28th. Three investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $183.75.

Alphabet Trading Up 1.1 %

Shares of GOOG opened at $167.19 on Tuesday. Alphabet has a 52-week low of $121.46 and a 52-week high of $193.31. The stock has a market cap of $2.07 trillion, a PE ratio of 25.64, a price-to-earnings-growth ratio of 1.21 and a beta of 1.04. The firm’s fifty day moving average is $164.02 and its two-hundred day moving average is $168.32. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.85 by $0.04. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The firm had revenue of $84.74 billion for the quarter, compared to the consensus estimate of $84.22 billion. During the same period last year, the firm posted $1.44 earnings per share. The company’s revenue for the quarter was up 13.6% on a year-over-year basis. Research analysts forecast that Alphabet will post 7.63 earnings per share for the current fiscal year.

Insider Activity at Alphabet

In other news, insider John Kent Walker sold 16,802 shares of the firm’s stock in a transaction on Friday, September 27th. The stock was sold at an average price of $165.47, for a total transaction of $2,780,226.94. Following the completion of the transaction, the insider now directly owns 43,999 shares in the company, valued at $7,280,514.53. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $168.00, for a total value of $114,576.00. Following the completion of the transaction, the chief accounting officer now owns 31,334 shares of the company’s stock, valued at approximately $5,264,112. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider John Kent Walker sold 16,802 shares of the business’s stock in a transaction on Friday, September 27th. The stock was sold at an average price of $165.47, for a total transaction of $2,780,226.94. Following the completion of the transaction, the insider now owns 43,999 shares of the company’s stock, valued at approximately $7,280,514.53. The disclosure for this sale can be found here. In the last quarter, insiders sold 216,225 shares of company stock worth $36,134,681. Insiders own 12.99% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Richardson Financial Services Inc. acquired a new stake in shares of Alphabet in the 4th quarter valued at $34,000. Abich Financial Wealth Management LLC raised its stake in Alphabet by 9,200.0% in the second quarter. Abich Financial Wealth Management LLC now owns 186 shares of the information services provider’s stock valued at $34,000 after buying an additional 184 shares in the last quarter. 1620 Investment Advisors Inc. purchased a new stake in Alphabet during the 2nd quarter worth about $37,000. HWG Holdings LP acquired a new position in shares of Alphabet during the 2nd quarter worth about $40,000. Finally, Slocum Gordon & Co LLP purchased a new position in shares of Alphabet in the 2nd quarter valued at about $44,000. 27.26% of the stock is owned by institutional investors and hedge funds.

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.