A number of other equities analysts have also issued reports on the stock. Aegis reiterated a buy rating and issued a $1,350.00 target price on shares of Alphabet in a research report on Sunday. Oppenheimer raised their price objective on shares of Alphabet from $1,180.00 to $1,340.00 and gave the company a hold rating in a research report on Friday. Royal Bank of Canada restated a buy rating and set a $1,285.00 price objective on shares of Alphabet in a research report on Friday. BMO Capital Markets restated a market perform rating and set a $1,100.00 price objective (up previously from $1,080.00) on shares of Alphabet in a research report on Friday. Finally, Bank of America reiterated a buy rating and issued a $1,360.00 target price (up from $1,340.00) on shares of Alphabet in a report on Friday. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, thirty-eight have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The company has an average rating of Buy and a consensus price target of $1,157.75.
Alphabet (NASDAQ:GOOGL) traded up $19.20 during mid-day trading on Monday, hitting $1,081.59. 697,959 shares of the company were exchanged, compared to its average volume of 1,882,785. The company has a debt-to-equity ratio of 0.03, a quick ratio of 5.11 and a current ratio of 5.14. Alphabet has a 1-year low of $823.29 and a 1-year high of $1,198.00. The firm has a market cap of $735,850.00, a PE ratio of 60.26, a PEG ratio of 1.45 and a beta of 0.95.
Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Thursday, February 1st. The information services provider reported $9.70 earnings per share for the quarter, missing the Zacks’ consensus estimate of $10.12 by ($0.42). The firm had revenue of $25.87 billion during the quarter, compared to analyst estimates of $25.65 billion. Alphabet had a return on equity of 14.94% and a net margin of 11.42%. analysts expect that Alphabet will post 41.91 earnings per share for the current fiscal year.
Alphabet declared that its Board of Directors has approved a stock repurchase plan on Thursday, February 1st that authorizes the company to buyback $8.59 billion in outstanding shares. This buyback authorization authorizes the information services provider to reacquire shares of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.
Several institutional investors have recently made changes to their positions in GOOGL. Parkside Financial Bank & Trust lifted its holdings in shares of Alphabet by 39.6% during the second quarter. Parkside Financial Bank & Trust now owns 127 shares of the information services provider’s stock valued at $118,000 after acquiring an additional 36 shares during the period. Odey Holdings AG raised its holdings in shares of Alphabet by 18.2% in the second quarter. Odey Holdings AG now owns 130 shares of the information services provider’s stock valued at $121,000 after buying an additional 20 shares during the last quarter. Stuart Chaussee & Associates Inc. bought a new position in shares of Alphabet in the fourth quarter valued at about $123,000. Stelac Advisory Services LLC bought a new position in shares of Alphabet in the third quarter valued at about $126,000. Finally, Lloyds Banking Group plc bought a new position in shares of Alphabet in the second quarter valued at about $133,000. Institutional investors and hedge funds own 33.61% of the company’s stock.
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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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