Alphabet (NASDAQ:GOOG) Rating Lowered to Hold at Stifel Nicolaus

Alphabet (NASDAQ:GOOG) was downgraded by research analysts at Stifel Nicolaus from a “buy” rating to a “hold” rating in a research note issued on Friday, The Fly reports.

Several other research analysts also recently weighed in on the stock. Cowen upped their target price on shares of Alphabet from $1,450.00 to $1,525.00 and gave the stock an “outperform” rating in a report on Wednesday, April 29th. Goldman Sachs Group reaffirmed a “buy” rating on shares of Alphabet in a report on Wednesday, July 22nd. Jefferies Financial Group reissued a “buy” rating on shares of Alphabet in a report on Tuesday, April 28th. Mizuho increased their price objective on shares of Alphabet from $1,650.00 to $1,750.00 and gave the company a “buy” rating in a report on Tuesday, July 21st. Finally, BidaskClub raised shares of Alphabet from a “hold” rating to a “buy” rating in a report on Thursday, June 25th. Four investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $1,671.00.

Alphabet stock traded down $48.49 during mid-day trading on Friday, hitting $1,482.96. The stock had a trading volume of 3,429,036 shares, compared to its average volume of 1,408,813. The firm has a market capitalization of $1,012.30 billion, a P/E ratio of 32.61, a P/E/G ratio of 2.27 and a beta of 1.05. The company has a current ratio of 3.66, a quick ratio of 3.64 and a debt-to-equity ratio of 0.08. The firm’s 50 day moving average is $1,474.19 and its 200 day moving average is $1,377.20. Alphabet has a one year low of $1,013.54 and a one year high of $1,586.99.

Alphabet (NASDAQ:GOOG) last issued its earnings results on Thursday, July 30th. The information services provider reported $10.13 earnings per share for the quarter, topping the consensus estimate of $8.43 by $1.70. The company had revenue of $31.60 billion during the quarter, compared to the consensus estimate of $30.58 billion. Alphabet had a net margin of 18.99% and a return on equity of 15.77%. As a group, equities research analysts forecast that Alphabet will post 42.07 earnings per share for the current year.

In related news, Director John L. Hennessy sold 60 shares of the stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $1,363.61, for a total value of $81,816.60. Following the sale, the director now directly owns 592 shares of the company’s stock, valued at approximately $807,257.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ann Mather sold 32 shares of the stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $1,418.39, for a total transaction of $45,388.48. Following the completion of the sale, the director now directly owns 1,119 shares in the company, valued at $1,587,178.41. The disclosure for this sale can be found here. Insiders have sold a total of 212 shares of company stock worth $303,047 over the last 90 days. Corporate insiders own 12.99% of the company’s stock.

A number of institutional investors have recently bought and sold shares of GOOG. Campbell Wealth Management purchased a new stake in Alphabet in the 2nd quarter worth about $41,000. Prestige Wealth Management Group LLC raised its position in Alphabet by 1,700.0% in the 1st quarter. Prestige Wealth Management Group LLC now owns 36 shares of the information services provider’s stock worth $42,000 after purchasing an additional 34 shares during the period. Cordasco Financial Network grew its stake in Alphabet by 32.1% in the 1st quarter. Cordasco Financial Network now owns 37 shares of the information services provider’s stock worth $43,000 after acquiring an additional 9 shares in the last quarter. New England Investment & Retirement Group Inc. bought a new position in Alphabet in the 1st quarter worth about $44,000. Finally, Paragon Capital Management LLC bought a new position in Alphabet in the 1st quarter worth about $47,000. 32.91% of the stock is currently owned by institutional investors.

About Alphabet

Alphabet Inc provides online advertising services in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It offers performance and brand advertising services. The company operates through Google and Other Bets segments. The Google segment offers products, such as Ads, Android, Chrome, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure.

See Also: Trading Strategy Methods and Types

The Fly

Analyst Recommendations for Alphabet (NASDAQ:GOOG)

Receive News & Ratings for Alphabet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alphabet and related companies with MarketBeat.com's FREE daily email newsletter.