Alphabet’s (GOOGL) “Outperform” Rating Reaffirmed at Royal Bank of Canada

Alphabet Inc (NASDAQ:GOOGL)‘s stock had its “outperform” rating reiterated by analysts at Royal Bank of Canada in a research note issued to investors on Saturday. They presently have a $1,025.00 price objective on the information services provider’s stock. Royal Bank of Canada’s price objective suggests a potential upside of 19.33% from the company’s previous close.

Other equities analysts have also issued research reports about the stock. B. Riley reiterated a “buy” rating and issued a $990.00 target price on shares of Alphabet in a research report on Friday, January 27th. Mizuho began coverage on shares of Alphabet in a report on Saturday, March 11th. They issued a “buy” rating and a $1,024.00 price target for the company. Pacific Crest reissued an “overweight” rating and issued a $1,040.00 price target on shares of Alphabet in a report on Saturday, March 11th. Stifel Nicolaus cut their price target on shares of Alphabet from $1,050.00 to $950.00 and set a “buy” rating for the company in a report on Friday, January 27th. Finally, Wells Fargo & Co reissued an “outperform” rating and issued a $1,000.00 price target (up from $975.00) on shares of Alphabet in a report on Saturday, March 11th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, forty have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $964.41.

Analyst Recommendations for Alphabet (NASDAQ:GOOGL)

Shares of Alphabet (NASDAQ:GOOGL) traded down 0.13% during midday trading on Friday, hitting $858.95. 1,172,389 shares of the stock were exchanged. The company has a market cap of $593.90 billion, a PE ratio of 30.81 and a beta of 0.98. The stock has a 50 day moving average price of $851.85 and a 200-day moving average price of $822.85. Alphabet has a 12 month low of $672.66 and a 12 month high of $874.42.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Thursday, January 26th. The information services provider reported $9.36 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $7.65 by $1.71. The firm earned $21.22 billion during the quarter, compared to analyst estimates of $20.58 billion. Alphabet had a net margin of 21.58% and a return on equity of 14.85%. During the same quarter in the prior year, the firm posted $8.67 EPS. On average, analysts predict that Alphabet will post $33.34 EPS for the current year.

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Hedge funds and other institutional investors have recently modified their holdings of the company. Cedar Wealth Management LLC boosted its position in shares of 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 boosted its position in shares of 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 purchased a new position in shares of Alphabet during the fourth quarter valued at approximately $123,000. Farmers & Merchants Trust Co of Chambersburg PA purchased a new position in shares of Alphabet during the fourth quarter valued at approximately $127,000. Finally, Tarbox Group Inc. boosted its position in shares of 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 hedge funds and other 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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