Morgan Stanley Reiterates “Buy” Rating for Alphabet Inc. (GOOG)

Morgan Stanley reissued their buy rating on shares of Alphabet Inc. (NASDAQ:GOOG) in a research report report published on Friday morning.

Other research analysts have also issued reports about the stock. J P Morgan Chase & Co restated a buy rating on shares of Alphabet in a research report on Tuesday, July 25th. Canaccord Genuity restated a hold rating and set a $1,000.00 price target on shares of Alphabet in a research report on Thursday, July 27th. SunTrust Banks, Inc. began coverage on shares of Alphabet in a research report on Wednesday, August 16th. They set a buy rating and a $1,100.00 price target for the company. UBS AG restated a buy rating and set a $1,080.00 price target on shares of Alphabet in a research report on Tuesday, July 25th. Finally, MKM Partners restated a buy rating and set a $1,210.00 price target (up from $1,170.00) on shares of Alphabet in a research report on Thursday, August 10th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and thirty-eight have issued a buy rating to the company. The stock presently has a consensus rating of Buy and a consensus target price of $1,045.44.

Shares of Alphabet (NASDAQ:GOOG) opened at 1017.11 on Friday. Alphabet has a one year low of $727.54 and a one year high of $1,048.39. The firm has a market cap of $704.73 billion, a P/E ratio of 36.86 and a beta of 0.94. The firm has a 50 day moving average price of $960.24 and a 200-day moving average price of $938.55.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings results on Thursday, October 26th. The information services provider reported $9.57 EPS for the quarter, beating analysts’ consensus estimates of $8.31 by $1.26. The firm had revenue of $27.77 billion during the quarter, compared to analyst estimates of $27.17 billion. Alphabet had a net margin of 20.09% and a return on equity of 14.26%. The business’s revenue for the quarter was up 23.7% on a year-over-year basis. During the same period in the previous year, the business earned $9.06 EPS. Analysts forecast that Alphabet will post $31.85 earnings per share for the current year.

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In other news, VP James Grier Campbell sold 183 shares of the stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $959.26, for a total transaction of $175,544.58. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Sundar Pichai sold 4,000 shares of the stock in a transaction that occurred on Wednesday, August 2nd. The shares were sold at an average price of $930.46, for a total transaction of $3,721,840.00. Following the sale, the chief executive officer now owns 1,764 shares in the company, valued at approximately $1,641,331.44. The disclosure for this sale can be found here. In the last quarter, insiders have sold 37,493 shares of company stock worth $35,149,421. Corporate insiders own 13.92% of the company’s stock.

Several large investors have recently bought and sold shares of GOOG. CGOV Asset Management boosted its holdings in Alphabet by 0.4% in the first quarter. CGOV Asset Management now owns 1,405 shares of the information services provider’s stock worth $1,553,000 after purchasing an additional 5 shares during the last quarter. Waldron LP boosted its holdings in Alphabet by 84.3% in the first quarter. Waldron LP now owns 2,031 shares of the information services provider’s stock worth $1,679,000 after purchasing an additional 929 shares during the last quarter. Dock Street Asset Management Inc. boosted its holdings in Alphabet by 13.8% in the first quarter. Dock Street Asset Management Inc. now owns 8,496 shares of the information services provider’s stock worth $7,048,000 after purchasing an additional 1,027 shares during the last quarter. NBT Bank N A NY boosted its holdings in Alphabet by 13.9% in the first quarter. NBT Bank N A NY now owns 6,560 shares of the information services provider’s stock worth $5,442,000 after purchasing an additional 800 shares during the last quarter. Finally, Chickasaw Capital Management LLC purchased a new stake in Alphabet in the first quarter worth approximately $917,000. Hedge funds and other institutional investors own 34.50% 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.

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