Alphabet Inc. (NASDAQ:GOOGL) had its price objective increased by analysts at Citigroup Inc. from $1,135.00 to $1,180.00 in a report issued on Tuesday, July 25th. The firm currently has a “buy” rating on the information services provider’s stock. Citigroup Inc.’s target price suggests a potential upside of 26.87% from the company’s current price. The analysts noted that the move was a valuation call.
Other equities research analysts have also recently issued research reports about the company. Vetr upgraded Alphabet from a “hold” rating to a “buy” rating and set a $902.63 price target for the company in a research note on Monday, April 10th. Nomura cut their price target on Alphabet from $950.00 to $925.00 and set a “buy” rating for the company in a research note on Monday, March 27th. Instinet cut their price target on Alphabet from $950.00 to $925.00 and set a “buy” rating for the company in a research note on Monday, March 27th. UBS AG restated a “buy” rating and set a $980.00 price target on shares of Alphabet in a research note on Monday, March 27th. Finally, Zacks Investment Research upgraded Alphabet from a “hold” rating to a “buy” rating and set a $939.00 price target for the company in a research note on Wednesday, March 29th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, forty-two have issued a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $1,049.20.
Alphabet (GOOGL) opened at 930.09 on Tuesday. Alphabet has a one year low of $743.59 and a one year high of $1,008.61. The company has a 50-day moving average of $956.22 and a 200 day moving average of $908.99. The firm has a market cap of $644.44 billion, a P/E ratio of 33.71 and a beta of 0.99.
Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Monday, July 24th. The information services provider reported $5.01 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $8.25 by $3.24. Alphabet had a return on equity of 13.66% and a net margin of 19.49%. The company had revenue of $20.92 billion for the quarter, compared to analysts’ expectations of $20.83 billion. During the same quarter last year, the company earned $8.42 EPS. Equities research analysts expect that Alphabet will post $30.59 earnings per share for the current fiscal year.
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Hedge funds have recently made changes to their positions in the stock. Northwest Quadrant Wealth Management LLC purchased a new stake in Alphabet during the fourth quarter worth approximately $467,000. Raiff Partners Inc. purchased a new stake in Alphabet during the fourth quarter worth approximately $2,060,000. ShearLink Capital LLC purchased a new stake in Alphabet during the fourth quarter worth approximately $11,094,000. Cim Investment Mangement Inc. increased its stake in Alphabet by 1.1% in the fourth quarter. Cim Investment Mangement Inc. now owns 2,798 shares of the information services provider’s stock worth $2,217,000 after buying an additional 31 shares in the last quarter. Finally, First Allied Advisory Services Inc. increased its stake in Alphabet by 10.3% in the fourth quarter. First Allied Advisory Services Inc. now owns 10,826 shares of the information services provider’s stock worth $8,579,000 after buying an additional 1,009 shares in the last quarter. 34.31% of the stock is currently 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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