Alphabet Inc (NASDAQ:GOOGL) has earned a consensus recommendation of “Buy” from the forty-one brokerages that are covering the stock, Marketbeat.com reports. Eight investment analysts have rated the stock with a hold recommendation and thirty-two have given a buy recommendation to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $1,370.25.
A number of research analysts have issued reports on the stock. ValuEngine cut shares of Alphabet from a “buy” rating to a “hold” rating in a report on Tuesday, April 30th. Macquarie set a $1,300.00 price target on shares of Alphabet and gave the stock a “buy” rating in a report on Friday, July 26th. Susquehanna Bancshares raised their price target on shares of Alphabet to $1,550.00 in a report on Friday, July 26th. Cowen set a $1,500.00 price target on shares of Alphabet and gave the stock a “buy” rating in a report on Friday, July 26th. Finally, DZ Bank reaffirmed a “hold” rating and issued a $1,197.00 price target on shares of Alphabet in a report on Wednesday, May 1st.
NASDAQ:GOOGL traded up $9.89 during midday trading on Friday, reaching $1,179.21. 1,245,800 shares of the stock traded hands, compared to its average volume of 1,832,204. Alphabet has a 12-month low of $977.66 and a 12-month high of $1,296.97. The business has a 50-day moving average of $1,159.77 and a two-hundred day moving average of $1,158.17. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.96 and a current ratio of 3.98. The stock has a market capitalization of $807.29 billion, a PE ratio of 24.82, a price-to-earnings-growth ratio of 1.28 and a beta of 0.97.
Alphabet (NASDAQ:GOOGL) last posted its earnings results on Thursday, July 25th. The information services provider reported $14.21 EPS for the quarter, beating the Zacks’ consensus estimate of $11.49 by $2.72. The company had revenue of $31.71 billion during the quarter, compared to analysts’ expectations of $30.90 billion. Alphabet had a net margin of 23.43% and a return on equity of 20.15%. Research analysts anticipate that Alphabet will post 51.94 earnings per share for the current year.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Lodestar Investment Counsel LLC IL raised its stake in Alphabet by 0.8% during the second quarter. Lodestar Investment Counsel LLC IL now owns 4,547 shares of the information services provider’s stock worth $4,923,000 after purchasing an additional 34 shares during the period. Shellback Capital LP purchased a new stake in shares of Alphabet in the 4th quarter valued at approximately $6,270,000. Hemenway Trust Co LLC raised its stake in shares of Alphabet by 2.1% in the 2nd quarter. Hemenway Trust Co LLC now owns 18,121 shares of the information services provider’s stock valued at $19,621,000 after acquiring an additional 378 shares during the period. Ledyard National Bank raised its stake in shares of Alphabet by 0.6% in the 2nd quarter. Ledyard National Bank now owns 7,553 shares of the information services provider’s stock valued at $8,179,000 after acquiring an additional 42 shares during the period. Finally, Essex Financial Services Inc. raised its stake in shares of Alphabet by 4.1% in the 2nd quarter. Essex Financial Services Inc. now owns 4,106 shares of the information services provider’s stock valued at $4,446,000 after acquiring an additional 160 shares during the period. Institutional investors and hedge funds own 33.96% of the company’s stock.
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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