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

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

Several other research analysts have also recently issued reports on the stock. Goldman Sachs Group reissued a “buy” rating on shares of Alphabet in a report on Wednesday, July 22nd. Deutsche Bank lifted their price objective on shares of Alphabet from $1,700.00 to $1,975.00 and gave the company a “buy” rating in a report on Tuesday, July 28th. Credit Suisse Group reaffirmed a “buy” rating on shares of Alphabet in a report on Monday, July 20th. Zacks Investment Research raised shares of Alphabet from a “sell” rating to a “hold” rating in a report on Wednesday, July 15th. Finally, Jefferies Financial Group reaffirmed a “buy” rating on shares of Alphabet in a report on Tuesday, April 28th. Four investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $1,671.00.

Shares of Alphabet stock traded down $48.49 during trading on Friday, hitting $1,482.96. 3,429,036 shares of the company’s stock were exchanged, compared to its average volume of 1,408,813. The company has a debt-to-equity ratio of 0.08, a quick ratio of 3.64 and a current ratio of 3.66. The business has a 50-day simple moving average of $1,474.19 and a 200-day simple moving average of $1,377.20. Alphabet has a 52-week low of $1,013.54 and a 52-week high of $1,586.99. The stock has a market capitalization of $1,012.30 billion, a price-to-earnings ratio of 32.61, a PEG ratio of 2.27 and a beta of 1.05.

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

In related news, Director John L. Hennessy sold 60 shares of the business’s stock in a transaction dated Monday, July 6th. The shares were sold at an average price of $1,495.85, for a total transaction of $89,751.00. Following the transaction, the director now directly owns 664 shares in the company, valued at $993,244.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Ann Mather sold 32 shares of the business’s 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 transaction, the director now 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 212 shares of company stock worth $303,047 over the last 90 days. 12.99% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Chelsea Counsel Co. raised its stake in Alphabet by 6.4% during the first quarter. Chelsea Counsel Co. now owns 4,759 shares of the information services provider’s stock worth $5,534,000 after purchasing an additional 285 shares during the period. Adams Asset Advisors LLC purchased a new position in Alphabet during the second quarter worth about $1,484,000. Telemus Capital LLC raised its stake in Alphabet by 2.6% during the second quarter. Telemus Capital LLC now owns 7,909 shares of the information services provider’s stock worth $12,193,000 after purchasing an additional 198 shares during the period. Mackenzie Financial Corp raised its stake in Alphabet by 314.1% during the first quarter. Mackenzie Financial Corp now owns 39,509 shares of the information services provider’s stock worth $45,941,000 after purchasing an additional 29,967 shares during the period. Finally, Oregon Public Employees Retirement Fund raised its stake in Alphabet by 34.0% during the first quarter. Oregon Public Employees Retirement Fund now owns 65,569 shares of the information services provider’s stock worth $76,244,000 after purchasing an additional 16,640 shares during the period. Hedge funds and other institutional investors own 32.91% of the company’s stock.

Alphabet Company Profile

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.

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