Alphabet Inc. (NASDAQ:GOOGL) Receives $1,025.83 Consensus Target Price from Analysts

Alphabet Inc. (NASDAQ:GOOGL) has received a consensus recommendation of “Buy” from the fifty-one research firms that are covering the company, MarketBeat reports. One analyst has rated the stock with a sell rating, seven have issued a hold rating, forty-two have issued a buy rating and one has given a strong buy rating to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $1,050.56.

A number of equities research analysts recently issued reports on GOOGL shares. Vetr upgraded shares of Alphabet from a “buy” rating to a “strong-buy” rating and set a $1,069.98 price objective for the company in a report on Tuesday, June 27th. Pacific Crest reiterated an “overweight” rating and issued a $1,040.00 price objective on shares of Alphabet in a report on Sunday, April 23rd. Societe Generale set a $1,210.00 price objective on shares of Alphabet and gave the stock a “buy” rating in a report on Friday, July 7th. They noted that the move was a valuation call. Morgan Stanley reiterated an “overweight” rating and issued a $1,050.00 price objective on shares of Alphabet in a report on Wednesday, May 24th. Finally, Instinet restated a “buy” rating and set a $925.00 price target on shares of Alphabet in a report on Tuesday, April 25th.

Several hedge funds have recently made changes to their positions in the company. Asset Management One Co. Ltd. increased its stake in Alphabet by 1,116.6% in the fourth quarter. Asset Management One Co. Ltd. now owns 554,276 shares of the information services provider’s stock worth $439,667,000 after buying an additional 508,715 shares in the last quarter. Sii Investments Inc. WI increased its stake in Alphabet by 3.9% in the fourth quarter. Sii Investments Inc. WI now owns 2,728 shares of the information services provider’s stock worth $2,168,000 after buying an additional 102 shares in the last quarter. Koch Industries Inc. acquired a new stake in Alphabet during the fourth quarter worth about $227,000. Rafferty Asset Management LLC increased its stake in Alphabet by 11.2% in the fourth quarter. Rafferty Asset Management LLC now owns 2,150 shares of the information services provider’s stock worth $1,704,000 after buying an additional 216 shares in the last quarter. Finally, Sunbelt Securities Inc. acquired a new stake in Alphabet during the fourth quarter worth about $224,000. 34.31% of the stock is owned by institutional investors and hedge funds.

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Shares of Alphabet (NASDAQ GOOGL) opened at 922.82 on Friday. The stock has a market capitalization of $639.40 billion, a PE ratio of 33.44 and a beta of 0.99. Alphabet has a 52-week low of $743.59 and a 52-week high of $1,008.61. The stock has a 50 day moving average price of $957.55 and a 200-day moving average price of $908.38.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Monday, July 24th. The information services provider reported $5.01 earnings per share for the quarter, missing the Zacks’ 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 during the quarter, compared to analyst estimates of $20.83 billion. During the same period last year, the company posted $8.42 earnings per share. On average, equities research analysts anticipate that Alphabet will post $30.59 EPS for the current fiscal year.

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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