Alphabet (NASDAQ:GOOG) Stock Rating Upgraded by Seaport Res Ptn

Alphabet (NASDAQ:GOOG) was upgraded by equities research analysts at Seaport Res Ptn from a “hold” rating to a “strong-buy” rating in a research 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.

GOOG has been the topic of a number of other reports. TD Cowen upped their price objective on Alphabet from $200.00 to $220.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. Wells Fargo & Company upped their price target on shares of Alphabet from $182.00 to $187.00 and gave the company an “equal weight” rating in a research note on Wednesday. JPMorgan Chase & Co. raised their price target on shares of Alphabet from $208.00 to $212.00 and gave the stock an “overweight” rating in a research report on Wednesday. Cantor Fitzgerald raised shares of Alphabet to a “hold” rating in a report on Thursday, September 5th. Finally, DA Davidson raised shares of Alphabet to a “hold” rating in a report on Tuesday, September 10th. Five investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, Alphabet presently has an average rating of “Moderate Buy” and an average target price of $200.56.

Alphabet Price Performance

NASDAQ:GOOG opened at $176.14 on Tuesday. The firm’s fifty day moving average price is $163.56 and its two-hundred day moving average price is $170.30. 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 company has a market cap of $2.18 trillion, a P/E ratio of 27.02, a P/E/G ratio of 1.27 and a beta of 1.04. Alphabet has a one year low of $123.93 and a one year high of $193.31.

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

Insiders Place Their Bets

In related news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $166.30, for a total transaction of $3,741,750.00. Following the sale, the chief executive officer now owns 2,106,806 shares of the company’s stock, valued at $350,361,837.80. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, SVP Prabhakar Raghavan sold 34,257 shares of Alphabet stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $162.60, for a total transaction of $5,570,188.20. Following the sale, the senior vice president now directly owns 312,210 shares in the company, valued at $50,765,346. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $166.30, for a total transaction of $3,741,750.00. Following the sale, the chief executive officer now directly owns 2,106,806 shares in the company, valued at $350,361,837.80. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 220,426 shares of company stock valued at $35,993,340. 12.99% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Alphabet

A number of hedge funds have recently modified their holdings of the business. Concurrent Investment Advisors LLC increased its holdings in Alphabet by 6.5% in the third quarter. Concurrent Investment Advisors LLC now owns 106,768 shares of the information services provider’s stock valued at $17,851,000 after purchasing an additional 6,529 shares during the period. Gordian Advisors LLC increased its stake in shares of Alphabet by 8.1% in the third quarter. Gordian Advisors LLC now owns 1,479 shares of the information services provider’s stock valued at $247,000 after buying an additional 111 shares during the period. Family Asset Management LLC raised its position in shares of Alphabet by 1.8% during the third quarter. Family Asset Management LLC now owns 5,282 shares of the information services provider’s stock worth $883,000 after acquiring an additional 92 shares during the last quarter. RTD Financial Advisors Inc. lifted its stake in shares of Alphabet by 7.2% in the third quarter. RTD Financial Advisors Inc. now owns 4,266 shares of the information services provider’s stock worth $713,000 after acquiring an additional 286 shares during the period. Finally, Maia Wealth LLC boosted its holdings in Alphabet by 30.4% in the third quarter. Maia Wealth LLC now owns 5,416 shares of the information services provider’s stock valued at $891,000 after acquiring an additional 1,264 shares during the last quarter. Institutional investors and hedge funds own 27.26% of the company’s stock.

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.