Alphabet Inc. (NASDAQ:GOOGL)‘s stock had its “buy” rating reissued by investment analysts at Morgan Stanley in a research note issued to investors on Thursday. They currently have a $880.00 price objective on the stock. Morgan Stanley’s price target suggests a potential upside of 9.44% from the stock’s current price.
A number of other brokerages also recently commented on GOOGL. Wedbush downgraded shares of Alphabet from a “neutral” rating to an “underperform” rating and lifted their target price for the stock from $7.20 to $800.00 in a research note on Tuesday, September 27th. Cantor Fitzgerald reiterated a “buy” rating on shares of Alphabet in a research report on Sunday, August 14th. JPMorgan Chase & Co. reiterated an “overweight” rating and set a $950.00 price target on shares of Alphabet in a research report on Friday, September 9th. Robert W. Baird reiterated an “outperform” rating and set a $900.00 price target on shares of Alphabet in a research report on Friday, September 9th. Finally, Bank of America Corp. reiterated a “buy” rating and set a $960.00 price target on shares of Alphabet in a research report on Monday, September 26th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, forty-seven have given a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $924.78.
Shares of Alphabet (NASDAQ:GOOGL) opened at 804.06 on Thursday. Alphabet has a 52-week low of $654.49 and a 52-week high of $819.06. The stock has a market cap of $552.61 billion, a PE ratio of 31.15 and a beta of 1.00. The company’s 50-day moving average is $800.15 and its 200-day moving average is $758.17.
Alphabet (NASDAQ:GOOGL) last issued its earnings results on Thursday, July 28th. The company reported $8.42 EPS for the quarter, topping analysts’ consensus estimates of $8.04 by $0.38. Alphabet had a net margin of 22.00% and a return on equity of 14.74%. Equities analysts anticipate that Alphabet will post $34.26 EPS for the current year.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC increased its stake in Alphabet by 97.3% in the second quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC now owns 146 shares of the company’s stock worth $102,000 after buying an additional 72 shares during the period. Archford Capital Strategies LLC increased its stake in Alphabet by 29.8% in the second quarter. Archford Capital Strategies LLC now owns 148 shares of the company’s stock worth $104,000 after buying an additional 34 shares during the period. Roble Belko & Company Inc increased its stake in Alphabet by 294.9% in the second quarter. Roble Belko & Company Inc now owns 154 shares of the company’s stock worth $108,000 after buying an additional 115 shares during the period. MCF Advisors LLC increased its stake in Alphabet by 1.9% in the second quarter. MCF Advisors LLC now owns 159 shares of the company’s stock worth $112,000 after buying an additional 3 shares during the period. Finally, Point72 Asia Hong Kong Ltd acquired a new stake in Alphabet during the second quarter worth about $117,000. Institutional investors and hedge funds own 34.12% of the company’s stock.
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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