Alphabet’s (GOOGL) “Outperform” Rating Reiterated at Credit Suisse Group

Credit Suisse Group restated their outperform rating on shares of Alphabet Inc (NASDAQ:GOOGL) in a research note published on Wednesday morning. The firm currently has a $1,100.00 target price on the information services provider’s stock.

Other equities analysts have also issued research reports about the company. UBS AG reissued a buy rating and set a $980.00 price objective on shares of Alphabet in a research report on Monday, March 27th. B. Riley reissued a buy rating and set a $1,032.00 price objective on shares of Alphabet in a research report on Friday, April 28th. Zacks Investment Research lowered Alphabet from a buy rating to a hold rating in a research report on Monday, April 17th. Goldman Sachs Group, Inc. (The) lowered their price objective on Alphabet from $1,100.00 to $970.00 and set a buy rating for the company in a research report on Friday, April 28th. Finally, Vetr raised Alphabet from a buy rating to a strong-buy rating and set a $1,053.55 price objective for the company in a research report on Monday, July 3rd. Two research analysts have rated the stock with a sell rating, six have given a hold rating and forty-one have issued a buy rating to the stock. Alphabet has a consensus rating of Buy and a consensus target price of $1,016.39.

Alphabet (NASDAQ GOOGL) traded down 0.10% on Wednesday, reaching $975.96. 1,655,749 shares of the company’s stock traded hands. The firm’s 50 day moving average price is $972.78 and its 200 day moving average price is $880.30. Alphabet has a 12 month low of $734.64 and a 12 month high of $1,008.61. The company has a market cap of $675.12 billion, a PE ratio of 32.98 and a beta of 1.00.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Thursday, April 27th. The information services provider reported $7.73 EPS for the quarter, beating the consensus estimate of $7.24 by $0.49. The business had revenue of $20.12 billion during the quarter, compared to analyst estimates of $19.65 billion. Alphabet had a return on equity of 15.33% and a net margin of 21.92%. During the same quarter last year, the firm posted $7.50 earnings per share. On average, equities analysts expect that Alphabet will post $34.01 EPS for the current fiscal year.

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Large investors have recently modified their holdings of the stock. TNB Financial increased its stake in shares of Alphabet by 79.8% in the second quarter. TNB Financial now owns 516 shares of the information services provider’s stock worth $480,000 after buying an additional 229 shares during the last quarter. Exane Derivatives increased its stake in shares of Alphabet by 26.9% in the second quarter. Exane Derivatives now owns 3,008 shares of the information services provider’s stock worth $2,796,000 after buying an additional 638 shares during the last quarter. Mathes Company Inc. increased its stake in shares of Alphabet by 0.4% in the second quarter. Mathes Company Inc. now owns 6,331 shares of the information services provider’s stock worth $5,886,000 after buying an additional 27 shares during the last quarter. Baltimore Washington Financial Advisors Inc. increased its stake in shares of Alphabet by 3.5% in the second quarter. Baltimore Washington Financial Advisors Inc. now owns 3,919 shares of the information services provider’s stock worth $3,643,000 after buying an additional 134 shares during the last quarter. Finally, Clean Yield Group increased its stake in shares of Alphabet by 0.5% in the second quarter. Clean Yield Group now owns 2,064 shares of the information services provider’s stock worth $2,015,000 after buying an additional 10 shares during the last quarter. 34.33% of the stock is currently 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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