Trade Report: Today, Deutsche Bank AG Reaffirms Buy Rating for Alphabet Inc. (GOOG)

Today, Deutsche Bank AG Reaffirms Buy Rating for Alphabet Inc. (GOOG)

Deutsche Bank AG reissued their buy rating on shares of Alphabet Inc. (NASDAQ:GOOG) in a report published on Wednesday. Deutsche Bank AG currently has a $1,050.00 price target on the stock.

A number of other equities analysts have also weighed in on the stock. Credit Agricole SA reissued a buy rating on shares of Alphabet in a research report on Friday, September 23rd. Macquarie reissued an outperform rating and issued a $975.00 price objective on shares of Alphabet in a research report on Wednesday, October 5th. RBC Capital Markets reissued an outperform rating and issued a $1,025.00 price objective (up previously from $1,000.00) on shares of Alphabet in a research report on Friday, September 30th. Jefferies Group reissued a buy rating on shares of Alphabet in a research report on Friday, September 9th. Finally, Robert W. Baird reissued an outperform rating and issued a $900.00 price objective on shares of Alphabet in a research report on Wednesday, October 5th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, forty-five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus price target of $926.55.

Alphabet (NASDAQ:GOOG) opened at 778.53 on Wednesday. The stock has a market cap of $535.06 billion, a PE ratio of 30.17 and a beta of 1.03. Alphabet has a 12 month low of $641.73 and a 12 month high of $792.28. The firm has a 50-day moving average of $774.66 and a 200 day moving average of $741.88.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Thursday, July 28th. The company reported $8.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.03 by $0.39. Alphabet had a net margin of 22.00% and a return on equity of 14.74%. The company had revenue of $21.50 billion for the quarter, compared to the consensus estimate of $20.74 billion. During the same quarter in the prior year, the firm earned $6.99 earnings per share. The company’s revenue for the quarter was up 21.3% compared to the same quarter last year. Analysts anticipate that Alphabet will post $34.14 EPS for the current year.

In related news, CEO Lawrence Page sold 33,340 shares of the stock in a transaction dated Friday, July 29th. The shares were sold at an average price of $785.88, for a total value of $26,201,239.20. Following the sale, the chief executive officer now owns 20,703,788 shares of the company’s stock, valued at approximately $16,270,692,913.44. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Sergey Brin sold 66,664 shares of the stock in a transaction dated Tuesday, August 23rd. The stock was sold at an average price of $785.10, for a total transaction of $52,337,906.40. Following the completion of the sale, the insider now directly owns 28,200 shares in the company, valued at approximately $22,139,820. The disclosure for this sale can be found here. 13.92% of the stock is currently owned by corporate insiders.

Several hedge funds have recently added to or reduced their stakes in GOOG. John G Ullman & Associates Inc. boosted its position in Alphabet by 6.2% in the first quarter. John G Ullman & Associates Inc. now owns 1,851 shares of the company’s stock valued at $1,379,000 after buying an additional 108 shares during the last quarter. Telemus Capital LLC boosted its position in Alphabet by 720.1% in the first quarter. Telemus Capital LLC now owns 8,504 shares of the company’s stock valued at $6,335,000 after buying an additional 7,467 shares during the last quarter. Factory Mutual Insurance Co. bought a new position in Alphabet during the first quarter valued at approximately $109,513,000. Sanders Morris Harris Inc. bought a new position in Alphabet during the first quarter valued at approximately $1,054,000. Finally, Investment Centers of America Inc. boosted its position in Alphabet by 141.7% in the first quarter. Investment Centers of America Inc. now owns 1,368 shares of the company’s stock valued at $1,005,000 after buying an additional 802 shares during the last quarter. 34.39% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Company Profile

Related posts

Leave a Comment