Seaport Res Ptn Upgrades Alphabet (NASDAQ:GOOG) to “Strong-Buy”

Alphabet (NASDAQ:GOOG) was upgraded by Seaport Res Ptn from a “hold” rating to a “strong-buy” rating in a report issued on Tuesday, Zacks.com reports. Seaport Res Ptn also issued estimates for Alphabet’s Q4 2024 earnings at $2.13 EPS, FY2024 earnings at $8.02 EPS, Q1 2025 earnings at $2.02 EPS, Q2 2025 earnings at $2.12 EPS, Q3 2025 earnings at $2.23 EPS, Q4 2025 earnings at $2.36 EPS and FY2025 earnings at $8.73 EPS.

A number of other research analysts also recently weighed in on the company. Pivotal Research upped their price target on Alphabet from $215.00 to $225.00 and gave the stock a “buy” rating in a research note on Wednesday. Wells Fargo & Company lifted their price target on shares of Alphabet from $182.00 to $187.00 and gave the company an “equal weight” rating in a research report on Wednesday. UBS Group upped their price objective on shares of Alphabet from $187.00 to $192.00 and gave the stock a “neutral” rating in a report on Wednesday. Cantor Fitzgerald upgraded shares of Alphabet to a “hold” rating in a report on Thursday, September 5th. Finally, Canaccord Genuity Group upped their target price on shares of Alphabet from $220.00 to $225.00 and gave the stock a “buy” rating in a report on Wednesday. Five analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, Alphabet currently has a consensus rating of “Moderate Buy” and an average price target of $200.56.

Alphabet Stock Up 2.9 %

Shares of NASDAQ:GOOG opened at $176.14 on Tuesday. Alphabet has a 1 year low of $123.93 and a 1 year high of $193.31. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08 and a quick ratio of 2.08. The business’s 50-day moving average is $163.56 and its 200-day moving average is $170.30. The company has a market capitalization of $2.18 trillion, a price-to-earnings ratio of 27.02, a P/E/G ratio of 1.27 and a beta of 1.04.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.83 by $0.29. The firm had revenue of $88.27 billion for the quarter, compared to analyst estimates of $86.39 billion. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The company’s revenue was up 15.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.55 earnings per share. Equities research analysts predict that Alphabet will post 7.64 earnings per share for the current year.

Insider Buying and Selling

In related news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $168.00, for a total transaction of $114,576.00. Following the completion of the sale, the chief accounting officer now owns 31,334 shares in the company, valued at approximately $5,264,112. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, SVP Prabhakar Raghavan sold 34,257 shares of the business’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $162.60, for a total value of $5,570,188.20. Following the sale, the senior vice president now directly owns 312,210 shares in the company, valued at approximately $50,765,346. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $168.00, for a total transaction of $114,576.00. Following the transaction, the chief accounting officer now owns 31,334 shares of the company’s stock, valued at $5,264,112. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 220,426 shares of company stock valued at $35,993,340. 12.99% of the stock is owned by insiders.

Institutional Trading of Alphabet

A number of institutional investors have recently modified their holdings of GOOG. Plimoth Trust Co. LLC lifted its holdings in Alphabet by 1.0% during the 1st quarter. Plimoth Trust Co. LLC now owns 14,170 shares of the information services provider’s stock worth $2,158,000 after purchasing an additional 135 shares in the last quarter. Azzad Asset Management Inc. ADV bought a new stake in Alphabet during the first quarter valued at $248,000. Monument Capital Management grew its position in Alphabet by 5.6% during the first quarter. Monument Capital Management now owns 3,517 shares of the information services provider’s stock worth $535,000 after buying an additional 188 shares in the last quarter. Sivia Capital Partners LLC increased its stake in Alphabet by 12.1% in the 1st quarter. Sivia Capital Partners LLC now owns 20,700 shares of the information services provider’s stock worth $3,152,000 after acquiring an additional 2,231 shares during the last quarter. Finally, Tradewinds Capital Management LLC raised its holdings in shares of Alphabet by 11.8% in the 1st quarter. Tradewinds Capital Management LLC now owns 4,395 shares of the information services provider’s stock valued at $669,000 after acquiring an additional 464 shares in the last quarter. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Alphabet Company Profile

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.