Phillip Securities Upgrades Alphabet (NASDAQ:GOOG) to “Strong-Buy”

Alphabet (NASDAQ:GOOG) was upgraded by research analysts at Phillip Securities to a “strong-buy” rating in a research note issued to investors on Friday, Zacks.com reports.

Several other equities research analysts have also recently issued reports on GOOG. TD Cowen raised their price objective on Alphabet from $200.00 to $220.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. DA Davidson upgraded Alphabet to a “hold” rating in a research note on Tuesday, September 10th. Seaport Res Ptn upgraded Alphabet from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 29th. Barclays boosted their price objective on Alphabet from $200.00 to $220.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Finally, Cantor Fitzgerald upgraded Alphabet to a “hold” rating in a research report on Thursday, September 5th. Five investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat, Alphabet has a consensus rating of “Moderate Buy” and a consensus target price of $200.56.

Alphabet Trading Down 1.1 %

GOOG opened at $170.68 on Friday. The stock has a market capitalization of $2.10 trillion, a price-to-earnings ratio of 22.64, a PEG ratio of 1.24 and a beta of 1.04. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 2.08. The business has a fifty day moving average price of $163.87 and a 200 day moving average price of $170.72. Alphabet has a 12 month low of $129.40 and a 12 month high of $193.31.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, beating the consensus estimate of $1.83 by $0.29. The firm had revenue of $88.27 billion during the quarter, compared to the consensus estimate of $86.39 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The firm’s revenue was up 15.1% compared to the same quarter last year. During the same period in the prior year, the business earned $1.55 EPS. Sell-side analysts expect that Alphabet will post 7.89 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Frances Arnold sold 441 shares of the business’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $171.06, for a total value of $75,437.46. Following the sale, the director now owns 16,490 shares of the company’s stock, valued at $2,820,779.40. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Alphabet news, Director Frances Arnold sold 441 shares of the business’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $171.06, for a total value of $75,437.46. Following the completion of the transaction, the director now owns 16,490 shares of the company’s stock, valued at $2,820,779.40. The trade was 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, CAO Amie Thuener O’toole sold 2,835 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $151.53, for a total transaction of $429,587.55. Following the completion of the transaction, the chief accounting officer now directly owns 29,182 shares of the company’s stock, valued at approximately $4,421,948.46. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 232,052 shares of company stock valued at $38,086,723. Company insiders own 12.99% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Abich Financial Wealth Management LLC boosted its holdings in shares of Alphabet by 9,200.0% during the 2nd quarter. Abich Financial Wealth Management LLC now owns 186 shares of the information services provider’s stock valued at $34,000 after acquiring an additional 184 shares during the last quarter. 1620 Investment Advisors Inc. purchased a new stake in shares of Alphabet during the 2nd quarter valued at about $37,000. HWG Holdings LP purchased a new stake in shares of Alphabet during the 2nd quarter valued at about $40,000. Slocum Gordon & Co LLP purchased a new stake in shares of Alphabet during the 2nd quarter valued at about $44,000. Finally, Sanctuary Wealth Management L.L.C. boosted its holdings in shares of Alphabet by 87.3% during the 3rd quarter. Sanctuary Wealth Management L.L.C. now owns 251 shares of the information services provider’s stock valued at $42,000 after acquiring an additional 117 shares during the last quarter. 27.26% of the stock is currently owned by institutional investors.

About Alphabet

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.