Bank of America Corporation reissued their buy rating on shares of Alphabet Inc. (NASDAQ:GOOGL) in a research report report published on Tuesday, July 25th. Bank of America Corporation currently has a $1,100.00 price target on the information services provider’s stock, up from their previous price target of $1,035.00.
Other equities research analysts also recently issued reports about the company. Instinet reaffirmed a buy rating and set a $925.00 target price on shares of Alphabet in a report on Tuesday, April 25th. BMO Capital Markets downgraded Alphabet from an outperform rating to a market perform rating and reduced their target price for the company from $1,005.00 to $880.00 in a report on Tuesday, April 4th. Jefferies Group LLC reaffirmed a buy rating and set a $1,200.00 target price (up from $1,000.00) on shares of Alphabet in a report on Friday, April 28th. Loop Capital started coverage on Alphabet in a report on Friday, March 31st. They set a hold rating and a $800.00 target price for the company. Finally, Zacks Investment Research lowered Alphabet from a hold rating to a sell rating in a research report on Monday, July 17th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, forty-two have given a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of Buy and a consensus price target of $1,049.20.
Alphabet (GOOGL) traded up 0.70% during midday trading on Tuesday, reaching $930.09. The company’s stock had a trading volume of 1,616,708 shares. The company’s 50-day moving average price is $956.22 and its 200-day moving average price is $908.99. Alphabet has a 1-year low of $743.59 and a 1-year high of $1,008.61. The company has a market capitalization of $644.44 billion, a price-to-earnings ratio of 33.71 and a beta of 0.99.
Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Monday, July 24th. The information services provider reported $5.01 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $8.25 by $3.24. The firm had revenue of $20.92 billion during the quarter, compared to analyst estimates of $20.83 billion. Alphabet had a net margin of 19.49% and a return on equity of 13.66%. During the same quarter last year, the company earned $8.42 EPS. On average, analysts predict that Alphabet will post $30.59 earnings per share for the current fiscal year.
TRADEMARK VIOLATION NOTICE: This article was first published by Stock Observer and is owned by of Stock Observer. If you are reading this article on another website, it was stolen and reposted in violation of United States & international copyright legislation. The correct version of this article can be read at https://www.thestockobserver.com/2017/08/12/alphabet-inc-nasdaqgoogl-given-buy-rating-at-bank-of-america-corporation-updated-updated.html.
Several large investors have recently modified their holdings of the company. Marietta Wealth Management LLC bought a new stake in shares of Alphabet during the fourth quarter valued at about $1,855,000. Ally Financial Inc. bought a new stake in shares of Alphabet during the fourth quarter valued at about $19,811,000. Azimuth Capital Management LLC boosted its stake in shares of Alphabet by 6.1% in the fourth quarter. Azimuth Capital Management LLC now owns 14,352 shares of the information services provider’s stock valued at $11,373,000 after buying an additional 823 shares during the period. Mayo Investment Advisers LLC boosted its stake in shares of Alphabet by 1.2% in the fourth quarter. Mayo Investment Advisers LLC now owns 28,089 shares of the information services provider’s stock valued at $22,259,000 after buying an additional 340 shares during the period. Finally, Bank of Nova Scotia Trust Co. boosted its stake in shares of Alphabet by 2.1% in the fourth quarter. Bank of Nova Scotia Trust Co. now owns 8,788 shares of the information services provider’s stock valued at $6,964,000 after buying an additional 180 shares during the period. Institutional investors own 34.31% of the company’s stock.
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.
Receive News & Ratings for Alphabet Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alphabet Inc. and related companies with MarketBeat.com's FREE daily email newsletter.