Morgan Stanley Reiterates “Outperform” Rating for Alphabet (GOOGL)

Morgan Stanley reiterated their outperform rating on shares of Alphabet (NASDAQ:GOOGL) in a research report released on Friday. Morgan Stanley currently has a $1,200.00 price objective on the information services provider’s stock, down from their prior price objective of $1,215.00.

Other analysts also recently issued research reports about the stock. Zacks Investment Research raised shares of Alphabet from a hold rating to a buy rating and set a $1,330.00 price target on the stock in a report on Monday, January 29th. Deutsche Bank reaffirmed a buy rating and set a $1,400.00 price target on shares of Alphabet in a report on Monday, January 29th. Monness Crespi & Hardt reaffirmed a buy rating and set a $1,250.00 price target (up previously from $1,120.00) on shares of Alphabet in a report on Monday, January 29th. Vetr raised shares of Alphabet from a hold rating to a buy rating and set a $1,243.88 price target on the stock in a report on Monday, January 29th. Finally, B. Riley raised their price target on shares of Alphabet from $1,200.00 to $1,375.00 and gave the company a buy rating in a report on Tuesday, January 30th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, thirty-eight have issued a buy rating and two have issued a strong buy rating to the company’s stock. The company currently has a consensus rating of Buy and an average price target of $1,157.75.

Shares of Alphabet (NASDAQ:GOOGL) opened at $1,062.39 on Friday. The firm has a market cap of $777,621.25, a PE ratio of 59.15, a price-to-earnings-growth ratio of 1.45 and a beta of 0.94. 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 12 month low of $814.29 and a 12 month high of $1,198.00.

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 analysts’ consensus estimates of $10.12 by ($0.42). The firm had revenue of $25.87 billion for the quarter, compared to the consensus estimate of $25.65 billion. Alphabet had a net margin of 11.42% and a return on equity of 14.94%. equities research analysts predict that Alphabet will post 41.91 earnings per share for the current year.

Alphabet declared that its Board of Directors has authorized a stock repurchase plan on Thursday, February 1st that permits the company to buyback $8.59 billion in outstanding shares. This buyback authorization permits the information services provider to reacquire shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

A number of large investors have recently modified their holdings of GOOGL. Aries Wealth Management bought a new stake in shares of Alphabet during the fourth quarter valued at approximately $1,017,000. Cypress Wealth Services LLC bought a new stake in shares of Alphabet during the fourth quarter valued at approximately $1,499,000. Chase Investment Counsel Corp raised its position in shares of Alphabet by 75.2% during the fourth quarter. Chase Investment Counsel Corp now owns 6,346 shares of the information services provider’s stock valued at $6,684,000 after buying an additional 2,724 shares during the last quarter. Fishman Jay A Ltd. MI raised its position in shares of Alphabet by 0.4% during the fourth quarter. Fishman Jay A Ltd. MI now owns 27,129 shares of the information services provider’s stock valued at $28,578,000 after buying an additional 113 shares during the last quarter. Finally, Crossmark Global Holdings Inc. raised its position in shares of Alphabet by 4.6% during the fourth quarter. Crossmark Global Holdings Inc. now owns 24,540 shares of the information services provider’s stock valued at $25,850,000 after buying an additional 1,084 shares during the last quarter. 33.61% of the stock is currently owned by institutional investors and hedge funds.

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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.

Analyst Recommendations for Alphabet (NASDAQ:GOOGL)

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