Alphabet (NASDAQ:GOOGL) Price Target Increased to $1,750.00 by Analysts at BMO Capital Markets

Alphabet (NASDAQ:GOOGL) had its target price upped by BMO Capital Markets from $1,550.00 to $1,750.00 in a research report sent to investors on Wednesday, The Fly reports. The brokerage currently has an outperform rating on the information services provider’s stock.

Other analysts also recently issued reports about the company. Stifel Nicolaus upped their price objective on Alphabet from $1,400.00 to $1,550.00 and gave the stock a buy rating in a report on Thursday, July 16th. Robert W. Baird upped their price objective on Alphabet from $1,500.00 to $1,650.00 in a report on Thursday, June 25th. Wedbush upped their price objective on Alphabet from $1,375.00 to $1,550.00 and gave the stock an outperform rating in a report on Wednesday, April 29th. They noted that the move was a valuation call. Canaccord Genuity upped their price objective on Alphabet from $1,550.00 to $1,700.00 and gave the stock a buy rating in a report on Wednesday, July 1st. Finally, Wells Fargo & Co restated a buy rating and set a $1,750.00 price objective (up from $1,575.00) on shares of Alphabet in a report on Monday, July 27th. Four investment analysts have rated the stock with a hold rating and forty have issued a buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus target price of $1,657.51.

Shares of GOOGL opened at $1,487.95 on Wednesday. The stock has a fifty day moving average of $1,473.93 and a two-hundred day moving average of $1,375.65. 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 company has a market capitalization of $1,015.70 billion, a PE ratio of 32.72, a price-to-earnings-growth ratio of 2.27 and a beta of 1.06. Alphabet has a fifty-two week low of $1,008.87 and a fifty-two week high of $1,587.05.

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

Several hedge funds have recently modified their holdings of GOOGL. Cox Capital Mgt LLC bought a new position in Alphabet in the first quarter worth about $27,000. HighMark Wealth Management LLC bought a new position in Alphabet in the fourth quarter worth about $34,000. Spence Asset Management lifted its holdings in Alphabet by 45.5% in the first quarter. Spence Asset Management now owns 32 shares of the information services provider’s stock worth $37,000 after acquiring an additional 10 shares during the last quarter. Cedar Mountain Advisors LLC lifted its holdings in Alphabet by 26.9% in the second quarter. Cedar Mountain Advisors LLC now owns 33 shares of the information services provider’s stock worth $47,000 after acquiring an additional 7 shares during the last quarter. Finally, Advocacy Wealth Management Services LLC lifted its holdings in Alphabet by 54.5% in the first quarter. Advocacy Wealth Management Services LLC now owns 34 shares of the information services provider’s stock worth $37,000 after acquiring an additional 12 shares during the last quarter. 34.14% of the stock is currently owned by institutional investors and hedge funds.

About Alphabet

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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