Alphabet Inc. (NASDAQ:GOOGL) had its target price raised by equities research analysts at Citigroup Inc. from $1,135.00 to $1,180.00 in a report released on Tuesday, July 25th. The firm presently has a “buy” rating on the information services provider’s stock. Citigroup Inc.’s target price would suggest a potential upside of 27.41% from the company’s current price. The analysts noted that the move was a valuation call.
A number of other brokerages also recently commented on GOOGL. Vetr raised shares of Alphabet from a “hold” rating to a “buy” rating and set a $1,052.36 price objective on the stock in a research report on Monday, June 5th. Zacks Investment Research downgraded shares of Alphabet from a “buy” rating to a “hold” rating in a research report on Monday, July 24th. J P Morgan Chase & Co boosted their price objective on shares of Alphabet from $1,075.00 to $1,115.00 and gave the company an “overweight” rating in a research report on Saturday, July 22nd. Morgan Stanley reaffirmed an “overweight” rating and set a $1,050.00 price objective on shares of Alphabet in a research report on Saturday, July 22nd. Finally, Wells Fargo & Company reaffirmed an “outperform” rating and set a $1,150.00 price objective on shares of Alphabet in a research report on Saturday, July 22nd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, forty-two have issued a buy rating and one has assigned a strong buy rating to the company. Alphabet presently has a consensus rating of “Buy” and an average target price of $1,053.45.
Shares of Alphabet (GOOGL) traded down 0.16% during midday trading on Tuesday, hitting $926.18. 1,337,404 shares of the stock were exchanged. The firm has a 50-day moving average price of $952.51 and a 200-day moving average price of $912.15. The company has a market cap of $641.73 billion, a PE ratio of 33.57 and a beta of 0.99. Alphabet has a 12-month low of $743.59 and a 12-month high of $1,008.61.
Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Monday, July 24th. The information services provider reported $5.01 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $8.25 by $3.24. Alphabet had a net margin of 19.49% and a return on equity of 13.66%. The firm had revenue of $20.92 billion for the quarter, compared to analyst estimates of $20.83 billion. During the same quarter in the prior year, the firm earned $8.42 EPS. On average, equities analysts predict that Alphabet will post $30.60 EPS for the current year.
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Several hedge funds and other institutional investors have recently modified their holdings of the stock. WFG Advisors LP raised its position in shares of Alphabet by 8.4% in the second quarter. WFG Advisors LP now owns 905 shares of the information services provider’s stock valued at $841,000 after buying an additional 70 shares during the period. Toronto Dominion Bank raised its position in shares of Alphabet by 24.1% in the second quarter. Toronto Dominion Bank now owns 103,546 shares of the information services provider’s stock valued at $96,251,000 after buying an additional 20,083 shares during the period. Oak Associates Ltd. OH raised its position in shares of Alphabet by 0.6% in the second quarter. Oak Associates Ltd. OH now owns 45,112 shares of the information services provider’s stock valued at $41,940,000 after buying an additional 250 shares during the period. Cetera Investment Advisers raised its position in shares of Alphabet by 30.8% in the second quarter. Cetera Investment Advisers now owns 2,384 shares of the information services provider’s stock valued at $2,222,000 after buying an additional 561 shares during the period. Finally, Afam Capital Inc. acquired a new position in shares of Alphabet during the second quarter valued at about $341,000. 34.12% 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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