Alphabet (NASDAQ:GOOG) Hits New 12-Month High at $1,365.60

Alphabet Inc (NASDAQ:GOOG)’s stock price hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $1,365.60 and last traded at $1,365.45, with a volume of 983056 shares trading hands. The stock had previously closed at $1,337.02.

Several brokerages have issued reports on GOOG. Mizuho boosted their target price on Alphabet from $1,400.00 to $1,450.00 and gave the company a “buy” rating in a research report on Tuesday, October 29th. BidaskClub lowered Alphabet from a “buy” rating to a “hold” rating in a research report on Wednesday, December 25th. Guggenheim boosted their target price on Alphabet from $1,425.00 to $1,525.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Barclays restated a “buy” rating on shares of Alphabet in a research report on Tuesday, October 29th. Finally, Credit Suisse Group boosted their target price on Alphabet from $1,500.00 to $1,700.00 and gave the company an “outperform” rating in a research report on Wednesday, October 23rd. Four investment analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $1,475.53.

The company’s 50 day moving average price is $1,331.73 and its two-hundred day moving average price is $1,227.95. The company has a quick ratio of 3.75, a current ratio of 3.78 and a debt-to-equity ratio of 0.07. The stock has a market cap of $921.52 billion, a P/E ratio of 28.78, a P/E/G ratio of 1.63 and a beta of 1.02.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Monday, October 28th. The information services provider reported $10.12 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $12.57 by ($2.45). Alphabet had a net margin of 21.04% and a return on equity of 18.34%. The company had revenue of $40.50 billion for the quarter, compared to the consensus estimate of $40.17 billion. During the same period in the prior year, the firm posted $13.06 EPS. The business’s revenue was up 20.0% on a year-over-year basis. As a group, equities research analysts forecast that Alphabet Inc will post 49.03 earnings per share for the current year.

In other news, SVP David C. Drummond sold 28,430 shares of Alphabet stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $1,266.89, for a total transaction of $36,017,682.70. Following the completion of the sale, the senior vice president now owns 45,806 shares of the company’s stock, valued at $58,031,163.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Ann Mather sold 25 shares of Alphabet stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $1,265.00, for a total transaction of $31,625.00. Following the sale, the director now directly owns 1,823 shares of the company’s stock, valued at approximately $2,306,095. The disclosure for this sale can be found here. Insiders have sold 887,711 shares of company stock valued at $187,081,088 in the last ninety days. Insiders own 12.99% of the company’s stock.

Institutional investors have recently bought and sold shares of the company. Schroder Investment Management Group raised its stake in Alphabet by 7.8% in the second quarter. Schroder Investment Management Group now owns 203,440 shares of the information services provider’s stock worth $219,900,000 after buying an additional 14,714 shares in the last quarter. Atria Investments LLC bought a new position in Alphabet in the second quarter worth approximately $219,000. First Allied Advisory Services Inc. raised its stake in Alphabet by 10.3% in the second quarter. First Allied Advisory Services Inc. now owns 8,573 shares of the information services provider’s stock worth $9,266,000 after buying an additional 798 shares in the last quarter. Cetera Investment Advisers raised its stake in Alphabet by 13.6% in the second quarter. Cetera Investment Advisers now owns 1,781 shares of the information services provider’s stock worth $1,921,000 after buying an additional 213 shares in the last quarter. Finally, Emerald Investment Partners LLC raised its stake in Alphabet by 20.5% in the second quarter. Emerald Investment Partners LLC now owns 176 shares of the information services provider’s stock worth $190,000 after buying an additional 30 shares in the last quarter. 33.79% of the stock is owned by hedge funds and other institutional investors.

Alphabet Company Profile (NASDAQ:GOOG)

Alphabet Inc provides online advertising services in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It offers performance and brand advertising services. The company operates through Google and Other Bets segments. The Google segment offers products, such as Ads, Android, Chrome, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure.

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