UBS AG Reiterates “Buy” Rating for Alphabet Inc. (GOOG)

Alphabet Inc. (NASDAQ:GOOG)‘s stock had its “buy” rating reiterated by stock analysts at UBS AG in a research report issued on Monday. They presently have a $1,080.00 target price on the information services provider’s stock. UBS AG’s target price would suggest a potential upside of 16.57% from the stock’s current price.

Several other analysts have also recently commented on GOOG. Vetr upgraded Alphabet from a “sell” rating to a “hold” rating and set a $907.74 target price on the stock in a research report on Wednesday, May 17th. Robert W. Baird restated an “outperform” rating and issued a $1,100.00 target price on shares of Alphabet in a research report on Friday, May 19th. Piper Jaffray Companies restated an “overweight” rating on shares of Alphabet in a research report on Monday, May 22nd. Aegis restated a “buy” rating on shares of Alphabet in a research report on Monday, May 22nd. Finally, Deutsche Bank AG reiterated a “buy” rating on shares of Alphabet in a research report on Monday, May 22nd. One investment analyst has rated the stock with a sell rating, six have given a hold rating and forty-one have issued a buy rating to the company’s stock. Alphabet presently has an average rating of “Buy” and an average target price of $1,030.53.

Alphabet (NASDAQ:GOOG) traded up 0.46% during mid-day trading on Monday, reaching $930.73. The company’s stock had a trading volume of 715,608 shares. The firm has a market capitalization of $644.88 billion, a P/E ratio of 33.73 and a beta of 0.94. Alphabet has a 52 week low of $727.54 and a 52 week high of $988.25. The firm’s 50 day moving average price is $927.87 and its 200 day moving average price is $905.08.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Monday, July 24th. The information services provider reported $5.01 EPS for the quarter, beating the consensus estimate of $4.43 by $0.58. Alphabet had a return on equity of 13.66% and a net margin of 19.49%. The firm had revenue of $26.01 billion for the quarter, compared to analysts’ expectations of $25.61 billion. During the same period last year, the firm earned $8.42 EPS. The firm’s revenue was up 21.0% compared to the same quarter last year. On average, analysts anticipate that Alphabet will post $30.59 EPS for the current fiscal year.

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In other news, VP James Grier Campbell sold 183 shares of Alphabet stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $911.16, for a total value of $166,742.28. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Sundar Pichai sold 4,000 shares of Alphabet stock in a transaction dated Wednesday, September 6th. The stock was sold at an average price of $931.44, for a total value of $3,725,760.00. Following the completion of the transaction, the chief executive officer now owns 1,618 shares in the company, valued at $1,507,069.92. The disclosure for this sale can be found here. Insiders sold 45,184 shares of company stock worth $42,115,482 over the last quarter. 13.92% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently added to or reduced their stakes in GOOG. Janus Henderson Group PLC grew its position in Alphabet by 759.0% during the second quarter. Janus Henderson Group PLC now owns 3,204,087 shares of the information services provider’s stock worth $2,911,734,000 after buying an additional 2,831,099 shares in the last quarter. Harbour Capital Advisors LLC grew its position in Alphabet by 87,001.5% during the second quarter. Harbour Capital Advisors LLC now owns 1,993,754 shares of the information services provider’s stock worth $2,194,000 after buying an additional 1,991,465 shares in the last quarter. Koch Industries Inc. grew its position in Alphabet by 214,636.6% during the second quarter. Koch Industries Inc. now owns 1,161,725 shares of the information services provider’s stock worth $1,160,000 after buying an additional 1,161,184 shares in the last quarter. BlackRock Inc. grew its position in Alphabet by 4.8% during the second quarter. BlackRock Inc. now owns 18,058,006 shares of the information services provider’s stock worth $16,409,850,000 after buying an additional 826,480 shares in the last quarter. Finally, Capital World Investors grew its position in Alphabet by 13.9% during the second quarter. Capital World Investors now owns 6,371,356 shares of the information services provider’s stock worth $5,789,842,000 after buying an additional 776,853 shares in the last quarter. 34.55% of the stock is currently owned by institutional investors and hedge funds.

About Alphabet

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.

Analyst Recommendations for Alphabet (NASDAQ:GOOG)

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