Alphabet’s (GOOG) “Outperform” Rating Reaffirmed at Robert W. Baird

Alphabet Inc (NASDAQ:GOOG)‘s stock had its “outperform” rating reaffirmed by stock analysts at Robert W. Baird in a research report issued on Friday. They currently have a $1,100.00 target price on the information services provider’s stock. Robert W. Baird’s price target points to a potential upside of 18.25% from the company’s previous close.

Several other analysts have also weighed in on the company. Pacific Crest initiated coverage on Alphabet in a report on Friday, January 20th. They set an “overweight” rating on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $1,040.00 price target on shares of Alphabet in a research note on Monday, March 13th. Barclays PLC reaffirmed an “overweight” rating on shares of Alphabet in a research note on Monday, April 17th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $1,005.00 price target on shares of Alphabet in a research note on Monday, March 27th. Finally, Nomura reaffirmed a “buy” rating and issued a $985.00 price target on shares of Alphabet in a research note on Monday, May 1st. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and forty-two have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $971.77.

Analyst Recommendations for Alphabet (NASDAQ:GOOG)

Alphabet (NASDAQ:GOOG) traded up 0.62% during midday trading on Friday, hitting $936.03. The company had a trading volume of 750,690 shares. The company’s 50 day moving average is $877.17 and its 200-day moving average is $820.39. Alphabet has a one year low of $663.28 and a one year high of $943.11. The company has a market cap of $647.50 billion, a P/E ratio of 31.63 and a beta of 0.94. Alphabet also saw unusually large options trading on Wednesday. Investors acquired 1,932 put options on the stock. This is an increase of approximately 105% compared to the average volume of 942 put options.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data on Thursday, April 27th. The information services provider reported $7.73 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $7.38 by $0.35. Alphabet had a return on equity of 14.85% and a net margin of 21.58%. The company had revenue of $24.75 billion for the quarter, compared to analyst estimates of $24.18 billion. During the same quarter last year, the firm earned $7.50 EPS. Alphabet’s revenue for the quarter was up 22.2% compared to the same quarter last year. On average, equities analysts predict that Alphabet will post $33.88 EPS for the current year.

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In other news, CEO Sundar Pichai sold 4,000 shares of the stock in a transaction that occurred on Wednesday, February 22nd. The stock was sold at an average price of $830.47, for a total transaction of $3,321,880.00. Following the transaction, the chief executive officer now owns 2,270 shares in the company, valued at $1,885,166.90. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director L John Doerr sold 13,355 shares of the stock in a transaction that occurred on Monday, May 15th. The stock was sold at an average price of $935.93, for a total value of $12,499,345.15. Following the transaction, the director now owns 3,468 shares in the company, valued at approximately $3,245,805.24. The disclosure for this sale can be found here. Insiders sold 50,133 shares of company stock worth $44,422,427 in the last 90 days. Corporate insiders own 13.92% of the company’s stock.

Several institutional investors have recently made changes to their positions in the company. Cambridge Advisors Inc. raised its position in shares of Alphabet by 0.4% in the first quarter. Cambridge Advisors Inc. now owns 272 shares of the information services provider’s stock worth $226,000 after buying an additional 1 shares during the period. Mark Sheptoff Financial Planning LLC raised its position in shares of Alphabet by 0.7% in the first quarter. Mark Sheptoff Financial Planning LLC now owns 136 shares of the information services provider’s stock worth $112,000 after buying an additional 1 shares during the period. Howland Capital Management LLC raised its position in shares of Alphabet by 0.3% in the first quarter. Howland Capital Management LLC now owns 637 shares of the information services provider’s stock worth $528,000 after buying an additional 2 shares during the period. Trust Co. of Virginia VA raised its position in shares of Alphabet by 0.7% in the first quarter. Trust Co. of Virginia VA now owns 423 shares of the information services provider’s stock worth $351,000 after buying an additional 3 shares during the period. Finally, Modera Wealth Management LLC raised its position in shares of Alphabet by 0.5% in the first quarter. Modera Wealth Management LLC now owns 575 shares of the information services provider’s stock worth $477,000 after buying an additional 3 shares during the period. Institutional investors own 34.74% of the company’s stock.

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.

5 Day Chart for NASDAQ:GOOG

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