Morningstar Reaffirms “Neutral” Rating for Alphabet Inc Class C (GOOG)

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Alphabet Inc Class C (NASDAQ:GOOG)‘s stock had its “neutral” rating restated by stock analysts at Morningstar in a research note issued on Friday.

A number of other analysts have also issued reports on the company. Deutsche Bank reaffirmed a “buy” rating and issued a $1,225.00 target price on shares of Alphabet Inc Class C in a report on Tuesday, April 24th. TheStreet raised Alphabet Inc Class C from a “c+” rating to an “a-” rating in a report on Monday, April 23rd. Oppenheimer raised their target price on Alphabet Inc Class C from $1,350.00 to $1,450.00 and gave the company an “outperform” rating in a report on Tuesday, July 24th. Credit Suisse Group reaffirmed a “buy” rating on shares of Alphabet Inc Class C in a report on Friday, April 20th. Finally, BidaskClub lowered Alphabet Inc Class C from a “buy” rating to a “hold” rating in a report on Friday, April 27th. Three analysts have rated the stock with a hold rating and twenty-seven have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $1,245.96.

Shares of NASDAQ GOOG opened at $1,200.96 on Friday. The company has a current ratio of 4.15, a quick ratio of 4.13 and a debt-to-equity ratio of 0.02. The stock has a market cap of $861.31 billion, a PE ratio of 37.47 and a beta of 1.13. Alphabet Inc Class C has a 52 week low of $903.40 and a 52 week high of $1,273.89.

Alphabet Inc Class C (NASDAQ:GOOG) last released its earnings results on Monday, July 23rd. The information services provider reported $11.75 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $9.66 by $2.09. The firm had revenue of $32.66 billion for the quarter, compared to analyst estimates of $32.13 billion. Alphabet Inc Class C had a return on equity of 18.24% and a net margin of 13.16%. The company’s revenue was up 25.6% on a year-over-year basis. During the same quarter last year, the firm posted $5.01 EPS.

In other Alphabet Inc Class C news, Director Ann Mather sold 24 shares of the firm’s stock in a transaction that occurred on Monday, July 2nd. The stock was sold at an average price of $1,100.00, for a total value of $26,400.00. Following the completion of the sale, the director now owns 1,870 shares in the company, valued at approximately $2,057,000. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Sundar Pichai sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 15th. The stock was sold at an average price of $1,230.21, for a total value of $12,302,100.00. Following the completion of the sale, the chief executive officer now owns 560 shares of the company’s stock, valued at approximately $688,917.60. The disclosure for this sale can be found here. Insiders sold a total of 88,369 shares of company stock valued at $104,846,172 in the last quarter. Corporate insiders own 13.11% of the company’s stock.

Hedge funds have recently made changes to their positions in the business. IMS Capital Management raised its position in Alphabet Inc Class C by 2.9% in the 2nd quarter. IMS Capital Management now owns 1,465 shares of the information services provider’s stock valued at $1,634,000 after purchasing an additional 41 shares during the last quarter. Trust Co. of Virginia VA raised its position in Alphabet Inc Class C by 7.2% in the 2nd quarter. Trust Co. of Virginia VA now owns 614 shares of the information services provider’s stock valued at $685,000 after purchasing an additional 41 shares during the last quarter. Intl Fcstone Inc. raised its position in Alphabet Inc Class C by 13.8% in the 2nd quarter. Intl Fcstone Inc. now owns 347 shares of the information services provider’s stock valued at $387,000 after purchasing an additional 42 shares during the last quarter. Security National Trust Co. raised its position in Alphabet Inc Class C by 1.9% in the 2nd quarter. Security National Trust Co. now owns 2,229 shares of the information services provider’s stock valued at $2,487,000 after purchasing an additional 42 shares during the last quarter. Finally, Providence First Trust Co raised its position in Alphabet Inc Class C by 2.7% in the 2nd quarter. Providence First Trust Co now owns 1,581 shares of the information services provider’s stock valued at $1,764,000 after purchasing an additional 42 shares during the last quarter. Institutional investors own 34.27% of the company’s stock.

Alphabet Inc Class C Company Profile

Alphabet Inc, through its subsidiaries, provides online advertising services in the United States and internationally. The company offers performance and brand advertising services. It operates through Google and Other Bets segments. The Google segment includes principal Internet products, such as Ads, Android, Chrome, Commerce, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure and newer efforts, including Virtual Reality.

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Analyst Recommendations for Alphabet Inc Class C (NASDAQ:GOOG)

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