Alphabet Inc (NASDAQ:GOOGL)‘s stock had its “overweight” rating restated by equities research analysts at Morgan Stanley in a note issued to investors on Saturday. They presently have a $1,000.00 target price on the information services provider’s stock. Morgan Stanley’s price target suggests a potential upside of 16.42% from the company’s current price.
Several other equities analysts have also recently commented on GOOGL. Robert W. Baird reaffirmed an “outperform” rating and issued a $960.00 price target on shares of Alphabet in a report on Sunday, March 5th. Wedbush reissued an “underperform” rating and issued a $700.00 target price on shares of Alphabet in a report on Wednesday, February 15th. Pivotal Research cut Alphabet from a “buy” rating to a “hold” rating and dropped their target price for the stock from $970.00 to $950.00 in a report on Monday, March 20th. Zacks Investment Research upgraded Alphabet from a “hold” rating to a “buy” rating and set a $923.00 price target on the stock in a research report on Monday, January 23rd. Finally, Royal Bank of Canada restated an “outperform” rating and set a $1,025.00 price target on shares of Alphabet in a research report on Tuesday, January 24th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, forty have assigned a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $964.41.
Shares of Alphabet (NASDAQ:GOOGL) traded down 0.13% on Friday, hitting $858.95. 1,172,389 shares of the stock traded hands. Alphabet has a 12 month low of $672.66 and a 12 month high of $874.42. The company has a market cap of $593.90 billion, a PE ratio of 30.81 and a beta of 0.98. The firm’s 50 day moving average is $851.85 and its 200-day moving average is $822.85.
Alphabet (NASDAQ:GOOGL) last issued its earnings results on Thursday, January 26th. The information services provider reported $9.36 EPS for the quarter, beating analysts’ consensus estimates of $7.65 by $1.71. Alphabet had a return on equity of 14.85% and a net margin of 21.58%. The firm had revenue of $21.22 billion for the quarter, compared to the consensus estimate of $20.58 billion. During the same quarter in the previous year, the company posted $8.67 earnings per share. Equities analysts predict that Alphabet will post $33.33 earnings per share for the current year.
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Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Cedar Wealth Management LLC increased its position in Alphabet by 5.8% in the third quarter. Cedar Wealth Management LLC now owns 128 shares of the information services provider’s stock valued at $103,000 after buying an additional 7 shares during the period. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC increased its position in Alphabet by 71,762.1% in the fourth quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC now owns 115,698 shares of the information services provider’s stock valued at $116,000 after buying an additional 115,537 shares during the period. First Command Bank acquired a new position in Alphabet during the fourth quarter valued at approximately $123,000. Farmers & Merchants Trust Co of Chambersburg PA acquired a new position in Alphabet during the fourth quarter valued at approximately $127,000. Finally, Tarbox Group Inc. increased its position in Alphabet by 1.9% in the third quarter. Tarbox Group Inc. now owns 163 shares of the information services provider’s stock valued at $131,000 after buying an additional 3 shares during the period. 34.98% of the stock is owned by institutional investors.
Alphabet Company Profile
Alphabet Inc is a holding company. The Company’s businesses include Google Inc (Google) and its Internet products, such as Access, Calico, CapitalG, GV, Nest, Verily, Waymo and X. The Company’s segments include Google and Other Bets. The Google segment includes its Internet products, such as Search, Ads, Commerce, Maps, YouTube, Google Cloud, Android, Chrome and Google Play, as well as its hardware initiatives.
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