KeyCorp Reaffirms “Buy” Rating for Alphabet Inc. (GOOGL)

KeyCorp reissued their buy rating on shares of Alphabet Inc. (NASDAQ:GOOGL) in a research report sent to investors on Friday. They currently have a $1,150.00 price target on the information services provider’s stock. KeyCorp also issued estimates for Alphabet’s FY2017 earnings at $31.80 EPS and Q1 2018 earnings at $9.29 EPS.

Several other research analysts have also commented on the company. CIBC reiterated an outperform rating and issued a $1,180.00 price target (up previously from $1,050.00) on shares of Alphabet in a research report on Friday. Oppenheimer Holdings Inc. raised their price objective on shares of Alphabet from $1,050.00 to $1,180.00 and gave the stock an outperform rating in a research note on Friday. Royal Bank Of Canada raised their price objective on shares of Alphabet from $1,050.00 to $1,125.00 and gave the stock an outperform rating in a research note on Friday. SunTrust Banks, Inc. reissued a buy rating and issued a $1,180.00 price objective (up previously from $1,100.00) on shares of Alphabet in a research note on Friday. Finally, Barclays PLC reissued a buy rating and issued a $1,260.00 price objective on shares of Alphabet in a research note on Friday. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, forty have issued a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of Buy and an average price target of $1,083.05.

Alphabet (NASDAQ:GOOGL) traded down 0.05% during midday trading on Friday, hitting $1033.13. The stock had a trading volume of 2,248,198 shares. The stock’s 50-day moving average is $973.54 and its 200-day moving average is $953.74. The company has a market capitalization of $715.83 billion, a PE ratio of 37.44 and a beta of 0.96. Alphabet has a 1-year low of $743.59 and a 1-year high of $1,063.62.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Thursday, October 26th. The information services provider reported $9.57 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $8.43 by $1.14. The company had revenue of $22.27 billion during the quarter, compared to analyst estimates of $21.94 billion. Alphabet had a return on equity of 14.26% and a net margin of 20.09%. During the same quarter last year, the business posted $9.06 earnings per share. Equities research analysts forecast that Alphabet will post $31.99 EPS for the current year.

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Large investors have recently bought and sold shares of the business. State of Alaska Department of Revenue purchased a new stake in Alphabet in the second quarter valued at $102,000. Franklin Parlapiano Turner & Welch LLC purchased a new stake in Alphabet in the first quarter valued at $108,000. Parkside Financial Bank & Trust raised its position in shares of Alphabet by 39.6% in the second quarter. Parkside Financial Bank & Trust now owns 127 shares of the information services provider’s stock worth $118,000 after acquiring an additional 36 shares during the period. Odey Holdings AG raised its position in shares of Alphabet by 18.2% in the second quarter. Odey Holdings AG now owns 130 shares of the information services provider’s stock worth $121,000 after acquiring an additional 20 shares during the period. Finally, Delta Asset Management LLC TN raised its position in shares of Alphabet by 1.5% in the first quarter. Delta Asset Management LLC TN now owns 136 shares of the information services provider’s stock worth $116,000 after acquiring an additional 2 shares during the period. 33.87% 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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