Alphabet (NASDAQ:GOOGL) Earns “Outperform” Rating from BMO Capital Markets

Alphabet (NASDAQ:GOOGL)‘s stock had its “outperform” rating reissued by stock analysts at BMO Capital Markets in a report released on Monday, Benzinga reports. They currently have a $222.00 target price on the information services provider’s stock. BMO Capital Markets’ price objective suggests a potential upside of 39.34% from the stock’s current price.

Several other equities research analysts have also issued reports on the stock. UBS Group raised their price target on shares of Alphabet from $200.00 to $204.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 24th. Wedbush reissued an “outperform” rating and issued a $205.00 target price on shares of Alphabet in a research report on Thursday, September 5th. JMP Securities reaffirmed a “market outperform” rating and set a $200.00 price target on shares of Alphabet in a research report on Tuesday, July 30th. Needham & Company LLC reiterated a “buy” rating and set a $210.00 price target on shares of Alphabet in a research note on Friday, August 30th. Finally, Evercore ISI lowered their price objective on Alphabet from $225.00 to $200.00 and set an “outperform” rating on the stock in a research note on Monday. Eight equities research analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $201.08.

Alphabet Stock Up 0.8 %

GOOGL stock opened at $159.32 on Monday. The stock has a market cap of $1.97 trillion, a P/E ratio of 24.44, a P/E/G ratio of 1.13 and a beta of 1.04. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.04. The stock’s fifty day simple moving average is $166.25 and its two-hundred day simple moving average is $165.17. Alphabet has a 1-year low of $120.21 and a 1-year high of $191.75.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, topping analysts’ consensus estimates of $1.85 by $0.04. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The company had revenue of $84.74 billion for the quarter, compared to the consensus estimate of $70.60 billion. During the same period in the previous year, the firm earned $1.44 EPS. Analysts expect that Alphabet will post 7.64 EPS for the current year.

Insiders Place Their Bets

In related news, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $183.47, for a total value of $125,126.54. Following the completion of the sale, the chief accounting officer now owns 30,650 shares in the company, valued at approximately $5,623,355.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $183.47, for a total value of $125,126.54. Following the transaction, the chief accounting officer now owns 30,650 shares in the company, valued at approximately $5,623,355.50. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $177.40, for a total transaction of $3,991,500.00. Following the sale, the chief executive officer now owns 2,213,011 shares of the company’s stock, valued at $392,588,151.40. The disclosure for this sale can be found here. Insiders sold a total of 180,167 shares of company stock valued at $30,139,931 over the last 90 days. Insiders own 11.55% of the company’s stock.

Hedge Funds Weigh In On Alphabet

Large investors have recently bought and sold shares of the stock. Christopher J. Hasenberg Inc raised its stake in shares of Alphabet by 75.0% during the second quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock valued at $26,000 after acquiring an additional 60 shares during the last quarter. Kings Path Partners LLC bought a new position in Alphabet during the 2nd quarter valued at approximately $36,000. Tributary Capital Management LLC bought a new position in Alphabet during the 1st quarter valued at approximately $30,000. Vermillion & White Wealth Management Group LLC purchased a new stake in Alphabet in the 4th quarter worth approximately $30,000. Finally, Denver PWM LLC bought a new stake in shares of Alphabet in the 2nd quarter worth approximately $41,000. 40.03% of the stock is owned by hedge funds and other institutional investors.

About Alphabet

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.