Today The Alphabet Inc. (GOOG) Research Coverage Started at Pacific Crest

Today The Alphabet Inc. (GOOG) Research Coverage Started at Pacific Crest

Pacific Crest began coverage on shares of Alphabet Inc. (NASDAQ:GOOG) in a research report sent to investors on Friday. The brokerage issued an overweight rating on the stock.

A number of other equities analysts also recently issued reports on the stock. Credit Suisse Group reissued an outperform rating and issued a $1,070.00 price target (up from $940.00) on shares of Alphabet in a research note on Monday, October 17th. Citigroup Inc. increased their price target on shares of Alphabet from $910.00 to $975.00 and gave the stock a buy rating in a research note on Tuesday, January 3rd. J P Morgan Chase & Co reissued a buy rating on shares of Alphabet in a research note on Tuesday, September 27th. Cowen and Company increased their price target on shares of Alphabet from $1,000.00 to $1,050.00 and gave the stock an outperform rating in a research note on Tuesday, January 10th. Finally, Robert W. Baird reissued an outperform rating and issued a $900.00 price target on shares of Alphabet in a research note on Wednesday, October 5th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and forty-four have issued a buy rating to the stock. The stock has a consensus rating of Buy and an average price target of $946.69.

Shares of Alphabet (NASDAQ:GOOG) opened at 826.90 on Friday. The firm has a 50-day moving average price of $794.92 and a 200 day moving average price of $775.63. Alphabet has a 12 month low of $663.06 and a 12 month high of $829.88. The firm has a market capitalization of $569.93 billion, a price-to-earnings ratio of 30.26 and a beta of 0.93.

In related news, CEO Lawrence Page sold 33,332 shares of the business’s stock in a transaction that occurred on Thursday, October 27th. The shares were sold at an average price of $806.49, for a total transaction of $26,881,924.68. Following the completion of the transaction, the chief executive officer now owns 105,666 shares in the company, valued at approximately $85,218,572.34. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP James Grier Campbell sold 194 shares of the business’s stock in a transaction that occurred on Wednesday, November 2nd. The stock was sold at an average price of $778.20, for a total transaction of $150,970.80. The disclosure for this sale can be found here. In the last quarter, insiders have sold 799,590 shares of company stock valued at $630,175,503. 13.92% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Macguire Cheswick & Tuttle Investment Counsel LLC raised its position in shares of Alphabet by 7.6% in the second quarter. Macguire Cheswick & Tuttle Investment Counsel LLC now owns 15,452 shares of the company’s stock worth $10,694,000 after buying an additional 1,085 shares during the last quarter. Westwood Management Corp IL raised its position in shares of Alphabet by 1.3% in the second quarter. Westwood Management Corp IL now owns 27,807 shares of the company’s stock worth $19,245,000 after buying an additional 350 shares during the last quarter. LS Investment Advisors LLC raised its position in shares of Alphabet by 4.9% in the second quarter. LS Investment Advisors LLC now owns 18,821 shares of the company’s stock worth $13,026,000 after buying an additional 874 shares during the last quarter. Clarkston Capital Partners LLC raised its position in shares of Alphabet by 14.9% in the second quarter. Clarkston Capital Partners LLC now owns 331 shares of the company’s stock worth $229,000 after buying an additional 43 shares during the last quarter. Finally, Bedrijfstakpensioenfonds Voor DE Media PNO bought a new position in shares of Alphabet during the second quarter worth about $7,988,000. Institutional investors and hedge funds own 34.66% of the company’s stock.

Alphabet Company Profile

Alphabet Inc is a holding company. The Company holds interests in Google Inc (Google). The Company’s segments include Google and Other Bets. Google segment includes Internet products, such as Search, Ads, Commerce, Maps, YouTube, Apps, Cloud, Android, Chrome, Google Play, and hardware products, including Chromecast, Chromebooks and Nexus, which are sold by the Company.

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