Alphabet’s (GOOG) “Overweight” Rating Reiterated at Morgan Stanley

Morgan Stanley restated their overweight rating on shares of Alphabet Inc (NASDAQ:GOOG) in a research note issued to investors on Saturday. They currently have a $1,000.00 price target on the information services provider’s stock.

GOOG has been the subject of several other research reports. Cantor Fitzgerald reissued an overweight rating and set a $1,040.00 price objective on shares of Alphabet in a research report on Friday, January 27th. JPMorgan Chase & Co. reissued a buy rating on shares of Alphabet in a research report on Wednesday, January 18th. BMO Capital Markets reaffirmed an outperform rating and issued a $1,000.00 price target on shares of Alphabet in a report on Tuesday, January 24th. Stifel Nicolaus reaffirmed a buy rating on shares of Alphabet in a report on Friday, January 27th. Finally, Jefferies Group LLC reaffirmed a buy rating and issued a $1,000.00 price target on shares of Alphabet in a report on Thursday, January 12th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and forty-two have assigned a buy rating to the stock. Alphabet currently has a consensus rating of Buy and a consensus price target of $956.36.

Shares of Alphabet (NASDAQ:GOOG) traded up 0.18% during midday trading on Friday, reaching $843.19. 1,323,569 shares of the company’s stock traded hands. Alphabet has a 52 week low of $663.28 and a 52 week high of $853.50. The stock’s 50 day moving average is $833.03 and its 200-day moving average is $802.56. The company has a market capitalization of $583.00 billion, a PE ratio of 30.25 and a beta of 0.94.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings results on Thursday, January 26th. The information services provider reported $9.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $9.67 by $0.31. The company had revenue of $26.04 billion for the quarter, compared to the consensus estimate of $25.18 billion. Alphabet had a return on equity of 14.85% and a net margin of 21.58%. The business’s revenue was up 22.2% compared to the same quarter last year. During the same quarter last year, the company posted $8.67 EPS. On average, analysts forecast that Alphabet will post $33.26 earnings per share for the current fiscal year.

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In other news, CEO Lawrence Page sold 33,340 shares of the stock in a transaction that occurred on Friday, February 3rd. The shares were sold at an average price of $812.80, for a total transaction of $27,098,752.00. Following the completion of the transaction, the chief executive officer now directly owns 30,670 shares of the company’s stock, valued at approximately $24,928,576. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP David C. Drummond sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, March 13th. The stock was sold at an average price of $852.42, for a total transaction of $1,704,840.00. Following the completion of the transaction, the senior vice president now directly owns 5,800 shares of the company’s stock, valued at $4,944,036. The disclosure for this sale can be found here. Insiders have sold a total of 281,688 shares of company stock valued at $229,255,327 over the last three months. Insiders own 13.92% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Signature Estate & Investment Advisors LLC acquired a new position in Alphabet during the third quarter valued at approximately $102,000. Empirical Finance LLC acquired a new position in Alphabet during the fourth quarter valued at approximately $115,000. Quantbot Technologies LP increased its position in Alphabet by 64.2% in the third quarter. Quantbot Technologies LP now owns 156 shares of the information services provider’s stock valued at $121,000 after buying an additional 61 shares during the period. Trust Department MB Financial Bank N A increased its position in Alphabet by 3.0% in the third quarter. Trust Department MB Financial Bank N A now owns 170 shares of the information services provider’s stock valued at $132,000 after buying an additional 5 shares during the period. Finally, Pacific Center for Financial Services acquired a new position in Alphabet during the fourth quarter valued at approximately $142,000. 34.74% of the stock is owned by institutional investors.

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.

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