Zacks Investment Research upgraded shares of Alphabet Inc. (NASDAQ:GOOGL) from a hold rating to a buy rating in a research note released on Wednesday morning. They currently have $907.00 price objective on the stock.
According to Zacks, “Alphabet is one of the leading providers of target-based advertisements on the web. The company has shown good execution to date, more or less maintaining its dominant share in a competitive, fast-growing search market. Its focus on innovation, strategic acquisitions and Android OS should continue to generate strong cash flows. Its diversification strategy is also positive, but requires significant investment and involves uncertain payback periods, particularly since these efforts are at the cutting edge of technology. We also see growing competition and legal hassles that could intensify with Brexit. “
Several other brokerages have also commented on GOOGL. Pivotal Research reaffirmed a buy rating and issued a $1,000.00 price objective (up from $970.00) on shares of Alphabet in a research report on Monday, July 11th. Stifel Nicolaus increased their price objective on shares of Alphabet from $888.00 to $925.00 and gave the company a buy rating in a research report on Friday, July 29th. Vetr lowered shares of Alphabet from a buy rating to a hold rating and set a $782.77 price objective for the company. in a research report on Tuesday, July 19th. Jefferies Group reaffirmed a buy rating and issued a $1,000.00 price objective (up from $925.00) on shares of Alphabet in a research report on Sunday, July 31st. Finally, Cantor Fitzgerald reaffirmed a buy rating and issued a $940.00 price objective on shares of Alphabet in a research report on Tuesday, July 5th. One analyst has rated the stock with a sell rating, one has given a hold rating, forty-seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Alphabet currently has an average rating of Buy and a consensus target price of $929.27.
Alphabet (NASDAQ:GOOGL) opened at 806.84 on Wednesday. The stock has a market cap of $554.52 billion, a P/E ratio of 31.26 and a beta of 1.00. Alphabet has a one year low of $670.70 and a one year high of $819.86. The firm’s 50-day moving average is $802.03 and its 200 day moving average is $761.84.
Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Thursday, July 28th. The company reported $8.42 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $8.04 by $0.38. Alphabet had a net margin of 22.00% and a return on equity of 14.74%. On average, analysts anticipate that Alphabet will post $34.11 EPS for the current fiscal year.
Several institutional investors have recently made changes to their positions in the company. St. Johns Investment Management Company LLC boosted its stake in Alphabet by 1.8% in the first quarter. St. Johns Investment Management Company LLC now owns 2,687 shares of the company’s stock valued at $2,050,000 after buying an additional 48 shares during the last quarter. North Star Investment Management Corp. boosted its stake in Alphabet by 106.7% in the first quarter. North Star Investment Management Corp. now owns 1,755 shares of the company’s stock valued at $1,339,000 after buying an additional 906 shares during the last quarter. Duncker Streett & Co. Inc. boosted its stake in Alphabet by 39.6% in the first quarter. Duncker Streett & Co. Inc. now owns 1,587 shares of the company’s stock valued at $1,211,000 after buying an additional 450 shares during the last quarter. Douglas Lane & Associates LLC acquired a new stake in Alphabet during the first quarter valued at $32,244,000. Finally, Bellecapital International Ltd. boosted its stake in Alphabet by 3.4% in the first quarter. Bellecapital International Ltd. now owns 6,641 shares of the company’s stock valued at $4,898,000 after buying an additional 220 shares during the last quarter. 34.15% of the stock is owned by institutional investors and hedge funds.
Alphabet Company Profile
Alphabet Inc is a holding company. The Company holds interests in Google Inc (Google). The Company’s segments include Google and Other Bets. Google segment includes Internet products, such as Search, Ads, Commerce, Maps, YouTube, Apps, Cloud, Android, Chrome, Google Play, and hardware products, including Chromecast, Chromebooks and Nexus, which are sold by the Company.
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