Alphabet (NASDAQ:GOOGL) had its target price reduced by Morgan Stanley from $1,425.00 to $1,400.00 in a research report released on Monday morning, BenzingaRatingsTable reports. They currently have an overweight rating on the information services provider’s stock.
Several other research analysts also recently issued reports on GOOGL. China Renaissance Securities initiated coverage on Facebook in a research report on Wednesday, May 29th. They set a buy rating and a $245.00 price objective for the company. Argus lifted their price objective on Thermo Fisher Scientific from $285.00 to $310.00 and gave the stock a buy rating in a research report on Wednesday, May 1st. Loop Capital started coverage on TENCENT HOLDING/ADR in a research report on Monday, June 3rd. They set a buy rating for the company. Deutsche Bank boosted their price target on Alphabet from $1,300.00 to $1,400.00 and gave the company a buy rating in a report on Wednesday, May 15th. Finally, ValuEngine upgraded Zynerba Pharmaceuticals from a hold rating to a buy rating in a report on Tuesday, April 30th. Eight equities research analysts have rated the stock with a hold rating and twenty-nine have issued a buy rating to the company. Alphabet has a consensus rating of Buy and an average target price of $1,319.59.
Shares of Alphabet stock opened at $1,146.74 on Monday. The company has a debt-to-equity ratio of 0.02, a current ratio of 3.96 and a quick ratio of 3.93. Alphabet has a 1 year low of $977.66 and a 1 year high of $1,296.97. The firm has a market cap of $800.78 billion, a P/E ratio of 24.14, a P/E/G ratio of 1.36 and a beta of 0.96. The stock’s 50 day moving average is $1,103.91.
Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Monday, April 29th. The information services provider reported $11.90 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $10.56 by $1.34. Alphabet had a return on equity of 20.06% and a net margin of 19.71%. The firm had revenue of $29.48 billion during the quarter, compared to the consensus estimate of $29.99 billion. During the same period in the previous year, the firm posted $13.33 EPS. As a group, equities research analysts expect that Alphabet will post 48.43 earnings per share for the current fiscal year.
Several hedge funds have recently added to or reduced their stakes in GOOGL. Belvedere Advisors LLC purchased a new stake in Alphabet during the 1st quarter worth $38,000. Thor Advisors LLC purchased a new stake in Alphabet during the 1st quarter worth $45,000. Vestor Capital LLC purchased a new stake in Alphabet during the 3rd quarter worth $62,000. Lavaca Capital LLC purchased a new stake in Alphabet during the 4th quarter worth $97,000. Finally, Sound Income Strategies LLC boosted its position in Alphabet by 71.4% during the 4th quarter. Sound Income Strategies LLC now owns 96 shares of the information services provider’s stock worth $100,000 after purchasing an additional 40 shares during the period. Institutional investors and hedge funds own 33.60% of the company’s stock.
Alphabet Company Profile
Alphabet Inc, through its subsidiaries, provides online advertising services in the United States and internationally. The company offers performance and brand advertising services. It operates through Google and Other Bets segments. The Google segment includes principal Internet products, such as Ads, Android, Chrome, Commerce, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure and newer efforts, including Virtual Reality.
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