Alphabet (GOOGL) Reaches New 52-Week High at $1,128.78

Alphabet Inc (NASDAQ:GOOGL) hit a new 52-week high during trading on Friday . The stock traded as high as $1,128.78 and last traded at $1,129.11, with a volume of 983918 shares traded. The stock had previously closed at $1,112.05.

Several equities research analysts have recently commented on GOOGL shares. Vetr raised Alphabet from a “buy” rating to a “strong-buy” rating and set a $1,046.78 price target on the stock in a research note on Monday, September 18th. Citigroup reissued a “buy” rating and set a $1,180.00 price target on shares of Alphabet in a research note on Wednesday, September 20th. Susquehanna Bancshares reissued a “positive” rating and set a $1,200.00 price target on shares of Alphabet in a research note on Thursday, September 21st. Cantor Fitzgerald reissued a “buy” rating and set a $1,100.00 price target on shares of Alphabet in a research note on Thursday, September 21st. Finally, SunTrust Banks reissued a “buy” rating and set a $1,100.00 price target on shares of Alphabet in a research note on Saturday, September 23rd. One research analyst has rated the stock with a sell rating, five have given a hold rating, forty-one have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $1,100.06.

The company has a current ratio of 5.77, a quick ratio of 5.73 and a debt-to-equity ratio of 0.03. The stock has a market cap of $783,260.00, a price-to-earnings ratio of 37.66, a price-to-earnings-growth ratio of 1.45 and a beta of 0.90.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Thursday, October 26th. The information services provider reported $9.57 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $8.43 by $1.14. The company had revenue of $22.27 billion during the quarter, compared to the consensus estimate of $21.94 billion. Alphabet had a return on equity of 14.26% and a net margin of 20.09%. During the same period in the previous year, the firm posted $9.06 EPS. equities research analysts anticipate that Alphabet Inc will post 32.34 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently modified their holdings of GOOGL. State of Alaska Department of Revenue acquired a new stake in shares of Alphabet during the 2nd quarter worth $102,000. Parkside Financial Bank & Trust increased its holdings in shares of Alphabet by 39.6% during the 2nd quarter. Parkside Financial Bank & Trust now owns 127 shares of the information services provider’s stock worth $118,000 after buying an additional 36 shares during the last quarter. Odey Holdings AG increased its holdings in shares of Alphabet by 18.2% during the 2nd quarter. Odey Holdings AG now owns 130 shares of the information services provider’s stock worth $121,000 after buying an additional 20 shares during the last quarter. Stelac Advisory Services LLC acquired a new stake in shares of Alphabet during the 3rd quarter worth $126,000. Finally, Lloyds Banking Group plc acquired a new stake in shares of Alphabet during the 2nd quarter worth $133,000. Institutional investors own 33.55% of the company’s stock.

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About Alphabet

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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