Alphabet’s (GOOGL) “Buy” Rating Reaffirmed at Royal Bank Of Canada

by · The Cerbat Gem

Alphabet (NASDAQ:GOOGL – Get Free Report)‘s stock had its “buy” rating reiterated by research analysts at Royal Bank Of Canada in a report released on Tuesday,MarketScreener Latest Ratings reports. They presently have a $315.00 price objective on the information services provider’s stock. Royal Bank Of Canada’s price target would indicate a potential downside of 0.26% from the company’s previous close.

A number of other research firms also recently weighed in on GOOGL. Daiwa Capital Markets raised their price target on shares of Alphabet from $233.00 to $333.00 and gave the stock a “buy” rating in a research report on Thursday, November 6th. Piper Sandler reiterated an “overweight” rating and set a $330.00 price objective (up from $285.00) on shares of Alphabet in a research note on Thursday, October 30th. Bank of America raised their price objective on shares of Alphabet from $280.00 to $335.00 and gave the stock a “buy” rating in a report on Thursday, October 30th. Moffett Nathanson upped their target price on shares of Alphabet from $305.00 to $315.00 and gave the company a “buy” rating in a research note on Tuesday, November 25th. Finally, Needham & Company LLC lifted their price target on Alphabet from $260.00 to $330.00 and gave the stock a “buy” rating in a research note on Thursday, October 30th. Four equities research analysts have rated the stock with a Strong Buy rating, forty-one have issued a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, Alphabet currently has a consensus rating of “Moderate Buy” and a consensus target price of $312.06.

Read Our Latest Analysis on Alphabet

Alphabet Trading Up 0.3%

Shares of Alphabet stock traded up $0.92 during trading hours on Tuesday, hitting $315.81. The company’s stock had a trading volume of 34,158,249 shares, compared to its average volume of 36,789,238. The business has a fifty day moving average of $270.48 and a 200 day moving average of $220.62. Alphabet has a 1-year low of $140.53 and a 1-year high of $328.83. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. The company has a market capitalization of $3.81 trillion, a PE ratio of 31.15, a P/E/G ratio of 1.86 and a beta of 1.05.

Alphabet (NASDAQ:GOOGL – Get Free Report) last announced its earnings results on Wednesday, October 29th. The information services provider reported $2.87 EPS for the quarter, beating the consensus estimate of $2.29 by $0.58. Alphabet had a return on equity of 36.08% and a net margin of 32.23%.The business had revenue of $102.35 billion for the quarter, compared to the consensus estimate of $99.90 billion. As a group, equities analysts forecast that Alphabet will post 8.9 EPS for the current year.

Insider Activity at Alphabet

In other Alphabet news, Director John L. Hennessy sold 600 shares of the firm’s stock in a transaction dated Thursday, November 13th. The shares were sold at an average price of $280.06, for a total transaction of $168,036.00. Following the transaction, the director owned 4,516 shares of the company’s stock, valued at approximately $1,264,750.96. This trade represents a 11.73% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction dated Wednesday, November 19th. The stock was sold at an average price of $296.64, for a total transaction of $9,640,800.00. Following the sale, the chief executive officer owned 2,304,619 shares in the company, valued at $683,642,180.16. This trade represents a 1.39% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 225,072 shares of company stock valued at $58,074,027 in the last ninety days. Company insiders own 11.64% of the company’s stock.

Institutional Investors Weigh In On Alphabet

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Norges Bank acquired a new position in Alphabet during the second quarter worth about $21,944,208,000. Nuveen LLC acquired a new stake in Alphabet in the 1st quarter valued at about $4,317,606,000. Berkshire Hathaway Inc bought a new position in shares of Alphabet during the 3rd quarter valued at about $4,338,397,000. Laurel Wealth Advisors LLC grew its stake in shares of Alphabet by 17,667.7% in the 2nd quarter. Laurel Wealth Advisors LLC now owns 15,245,075 shares of the information services provider’s stock worth $2,686,640,000 after purchasing an additional 15,159,273 shares during the last quarter. Finally, Vanguard Group Inc. raised its holdings in shares of Alphabet by 2.9% in the 1st quarter. Vanguard Group Inc. now owns 509,826,331 shares of the information services provider’s stock worth $78,839,544,000 after purchasing an additional 14,307,345 shares in the last quarter. Institutional investors own 40.03% of the company’s stock.

Alphabet Company Profile

(Get Free Report)

Alphabet Inc offers various products and platforms in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment provides products and services, including ads, Android, Chrome, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.

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