Credit Suisse Group restated their outperform rating on shares of Alphabet Inc. (NASDAQ:GOOGL) in a report published on Tuesday, July 25th. The brokerage currently has a $1,100.00 price target on the information services provider’s stock, down from their previous price target of $1,150.00.
Other analysts have also issued research reports about the stock. Instinet restated a buy rating and set a $925.00 price target on shares of Alphabet in a research note on Tuesday, April 25th. BMO Capital Markets lowered shares of Alphabet from an outperform rating to a market perform rating and decreased their price target for the company from $1,005.00 to $880.00 in a research note on Tuesday, April 4th. Jefferies Group LLC reaffirmed a buy rating and set a $1,200.00 price objective (up from $1,000.00) on shares of Alphabet in a report on Friday, April 28th. Loop Capital assumed coverage on shares of Alphabet in a report on Friday, March 31st. They set a hold rating and a $800.00 price objective on the stock. Finally, Zacks Investment Research downgraded shares of Alphabet from a hold rating to a sell rating in a report on Monday, July 17th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, forty-two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Alphabet presently has an average rating of Buy and an average target price of $1,049.20.
Shares of Alphabet (GOOGL) traded up 0.70% during mid-day trading on Tuesday, reaching $930.09. The company had a trading volume of 1,616,708 shares. The company’s 50-day moving average is $956.22 and its 200 day moving average is $908.99. Alphabet has a 52-week low of $743.59 and a 52-week high of $1,008.61. The stock has a market capitalization of $644.44 billion, a P/E ratio of 33.71 and a beta of 0.99.
Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Monday, July 24th. The information services provider reported $5.01 earnings per share for the quarter, missing the consensus estimate of $8.25 by $3.24. The company had revenue of $20.92 billion during the quarter, compared to the consensus estimate of $20.83 billion. Alphabet had a net margin of 19.49% and a return on equity of 13.66%. During the same quarter in the prior year, the firm earned $8.42 EPS. Analysts anticipate that Alphabet will post $30.59 EPS for the current fiscal year.
A number of large investors have recently added to or reduced their stakes in the company. Global Financial Private Capital LLC increased its stake in Alphabet by 9.5% in the second quarter. Global Financial Private Capital LLC now owns 1,966 shares of the information services provider’s stock valued at $1,827,000 after buying an additional 171 shares during the last quarter. Ontario Teachers Pension Plan Board boosted its position in shares of Alphabet by 4.7% in the second quarter. Ontario Teachers Pension Plan Board now owns 58,241 shares of the information services provider’s stock valued at $54,145,000 after buying an additional 2,604 shares during the last quarter. Cheviot Value Management LLC purchased a new position in shares of Alphabet during the second quarter valued at about $224,000. Veritable L.P. boosted its position in shares of Alphabet by 10.6% in the second quarter. Veritable L.P. now owns 11,765 shares of the information services provider’s stock valued at $10,938,000 after buying an additional 1,123 shares during the last quarter. Finally, Waters Parkerson & CO. LLC boosted its position in shares of Alphabet by 0.9% in the second quarter. Waters Parkerson & CO. LLC now owns 808 shares of the information services provider’s stock valued at $751,000 after buying an additional 7 shares during the last quarter. Institutional investors own 34.31% of the company’s stock.
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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