Credit Suisse Group reaffirmed their outperform rating on shares of Alphabet Inc. (NASDAQ:GOOGL) in a research note issued to investors on Wednesday, July 12th. Credit Suisse Group currently has a $1,100.00 target price on the information services provider’s stock.
A number of other equities analysts have also commented on GOOGL. UBS AG reiterated a buy rating and issued a $980.00 price objective on shares of Alphabet in a report on Monday, March 27th. B. Riley restated a buy rating and issued a $1,032.00 target price on shares of Alphabet in a research note on Friday, April 28th. Zacks Investment Research lowered shares of Alphabet from a buy rating to a hold rating in a research note on Monday, April 17th. Goldman Sachs Group, Inc. (The) cut their target price on shares of Alphabet from $1,100.00 to $970.00 and set a buy rating on the stock in a research note on Friday, April 28th. Finally, Vetr upgraded shares of Alphabet from a buy rating to a strong-buy rating and set a $1,053.55 target price on the stock in a research note on Monday, July 3rd. One research analyst has rated the stock with a sell rating, seven have given a hold rating, forty-two have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of Buy and an average price target of $1,049.20.
Shares of Alphabet (GOOGL) opened at 930.09 on Wednesday. The company’s 50 day moving average price is $956.22 and its 200 day moving average price is $908.99. The stock has a market cap of $644.44 billion, a PE ratio of 33.71 and a beta of 0.99. Alphabet has a 52-week low of $743.59 and a 52-week high of $1,008.61.
Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Monday, July 24th. The information services provider reported $5.01 earnings per share for the quarter, missing analysts’ consensus estimates of $8.25 by $3.24. Alphabet had a return on equity of 13.66% and a net margin of 19.49%. The business had revenue of $20.92 billion for the quarter, compared to analysts’ expectations of $20.83 billion. During the same period last year, the company posted $8.42 earnings per share. On average, analysts anticipate that Alphabet will post $30.59 earnings per share for the current year.
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Several institutional investors have recently added to or reduced their stakes in GOOGL. Ancora Advisors LLC increased its position in Alphabet by 261.6% in the fourth quarter. Ancora Advisors LLC now owns 3,913 shares of the information services provider’s stock valued at $3,101,000 after buying an additional 2,831 shares in the last quarter. Alta Capital Management LLC increased its position in Alphabet by 1.3% in the first quarter. Alta Capital Management LLC now owns 79,008 shares of the information services provider’s stock valued at $66,982,000 after buying an additional 1,001 shares in the last quarter. Koch Industries Inc. acquired a new position in Alphabet during the fourth quarter valued at approximately $227,000. Chescapmanager LLC acquired a new position in Alphabet during the fourth quarter valued at approximately $9,509,000. Finally, Patriot Wealth Management Inc. increased its position in Alphabet by 2.6% in the first quarter. Patriot Wealth Management Inc. now owns 5,599 shares of the information services provider’s stock valued at $4,747,000 after buying an additional 141 shares during the period. Hedge funds and other institutional investors own 34.31% of the company’s stock.
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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