Alphabet (GOOGL) Coverage Initiated by Analysts at Guggenheim

Analysts at Guggenheim initiated coverage on shares of Alphabet (NASDAQ:GOOGL) in a research note issued to investors on Thursday, Marketbeat.com reports. The firm set a “buy” rating and a $1,330.00 price target on the information services provider’s stock. Guggenheim’s price target would indicate a potential upside of 27.08% from the company’s previous close.

A number of other analysts also recently weighed in on GOOGL. Macquarie reaffirmed a “buy” rating and issued a $1,250.00 target price on shares of Alphabet in a research report on Wednesday, August 15th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $1,450.00 target price on shares of Alphabet in a research report on Tuesday, August 21st. MKM Partners upped their target price on shares of Alphabet from $1,355.00 to $1,465.00 and gave the stock a “buy” rating in a research report on Wednesday, August 22nd. Morgan Stanley reaffirmed an “overweight” rating and issued a $1,515.00 target price (up from $1,325.00) on shares of Alphabet in a research report on Wednesday, August 29th. Finally, Zacks Investment Research downgraded shares of Alphabet from a “hold” rating to a “sell” rating in a research report on Tuesday, September 25th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and thirty have issued a buy rating to the stock. Alphabet has an average rating of “Buy” and an average price target of $1,330.16.

NASDAQ:GOOGL opened at $1,046.58 on Thursday. The stock has a market capitalization of $750.21 billion, a PE ratio of 32.65, a price-to-earnings-growth ratio of 1.33 and a beta of 1.06. The company has a current ratio of 4.14, a quick ratio of 4.10 and a debt-to-equity ratio of 0.02. Alphabet has a 1-year low of $984.00 and a 1-year high of $1,291.44.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Thursday, October 25th. The information services provider reported $13.06 earnings per share for the quarter, topping the Zacks’ consensus estimate of $10.54 by $2.52. The firm had revenue of $27.16 billion for the quarter, compared to the consensus estimate of $27.32 billion. Alphabet had a net margin of 14.45% and a return on equity of 19.40%. On average, analysts forecast that Alphabet will post 45.02 EPS for the current fiscal year.

Institutional investors and hedge funds have recently bought and sold shares of the business. Jaffetilchin Investment Partners LLC lifted its stake in shares of Alphabet by 7.7% in the 2nd quarter. Jaffetilchin Investment Partners LLC now owns 572 shares of the information services provider’s stock worth $646,000 after purchasing an additional 41 shares during the period. M Holdings Securities Inc. increased its holdings in Alphabet by 2.0% in the 2nd quarter. M Holdings Securities Inc. now owns 2,096 shares of the information services provider’s stock worth $2,367,000 after acquiring an additional 42 shares in the last quarter. Boston Family Office LLC increased its holdings in Alphabet by 1.8% in the 2nd quarter. Boston Family Office LLC now owns 2,452 shares of the information services provider’s stock worth $2,769,000 after acquiring an additional 43 shares in the last quarter. Warren Averett Asset Management LLC increased its holdings in Alphabet by 2.7% in the 2nd quarter. Warren Averett Asset Management LLC now owns 1,659 shares of the information services provider’s stock worth $1,873,000 after acquiring an additional 44 shares in the last quarter. Finally, Hollencrest Capital Management increased its holdings in Alphabet by 4.1% in the 2nd quarter. Hollencrest Capital Management now owns 1,132 shares of the information services provider’s stock worth $1,279,000 after acquiring an additional 45 shares in the last quarter. Institutional investors and hedge funds own 30.54% of the company’s stock.

Alphabet Company Profile

Alphabet Inc, through its subsidiaries, provides online advertising services in the United States and internationally. The company offers performance and brand advertising services. It operates through Google and Other Bets segments. The Google segment includes principal Internet products, such as Ads, Android, Chrome, Commerce, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure and newer efforts, including Virtual Reality.

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