Alphabet (NASDAQ:GOOGL) had its price objective boosted by research analysts at Nomura from $1,680.00 to $1,700.00 in a research report issued to clients and investors on Wednesday, The Fly reports. Nomura’s price target indicates a potential upside of 26.66% from the company’s current price.
Several other brokerages also recently issued reports on GOOGL. JPMorgan Chase & Co. raised their price objective on shares of Alphabet from $1,340.00 to $1,505.00 and gave the stock an “overweight” rating in a research note on Wednesday. KeyCorp reissued a “buy” rating and issued a $1,769.00 price objective on shares of Alphabet in a research note on Tuesday, February 4th. Wells Fargo & Co reaffirmed a “buy” rating and set a $1,500.00 price target on shares of Alphabet in a research note on Monday. Mizuho lifted their price target on shares of Alphabet from $1,500.00 to $1,560.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, Wedbush reaffirmed an “outperform” rating and set a $1,375.00 price target (down previously from $1,625.00) on shares of Alphabet in a research note on Wednesday, April 22nd. Six research analysts have rated the stock with a hold rating and forty-three have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $1,503.08.
NASDAQ GOOGL traded up $109.59 during trading on Wednesday, hitting $1,342.18. The stock had a trading volume of 5,411,226 shares, compared to its average volume of 2,361,673. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.35 and a current ratio of 3.37. The stock has a market capitalization of $921.76 billion, a price-to-earnings ratio of 27.29, a P/E/G ratio of 1.88 and a beta of 1.04. Alphabet has a one year low of $1,008.87 and a one year high of $1,530.74. The stock has a 50 day simple moving average of $1,183.10 and a 200 day simple moving average of $1,317.25.
Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Tuesday, April 28th. The information services provider reported $9.87 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $11.16 by ($1.29). The firm had revenue of $33.71 billion during the quarter, compared to the consensus estimate of $32.59 billion. Alphabet had a return on equity of 18.66% and a net margin of 21.22%. During the same period in the previous year, the business earned $9.50 EPS. On average, sell-side analysts predict that Alphabet will post 42.76 EPS for the current year.
Large investors have recently bought and sold shares of the company. State Street Corp raised its position in shares of Alphabet by 0.6% in the fourth quarter. State Street Corp now owns 11,643,410 shares of the information services provider’s stock worth $15,595,067,000 after acquiring an additional 72,165 shares during the period. Norges Bank acquired a new position in shares of Alphabet in the fourth quarter worth about $6,806,866,000. Geode Capital Management LLC raised its position in shares of Alphabet by 2.4% in the fourth quarter. Geode Capital Management LLC now owns 4,678,851 shares of the information services provider’s stock worth $6,254,548,000 after acquiring an additional 110,137 shares during the period. Massachusetts Financial Services Co. MA raised its position in shares of Alphabet by 2.1% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,731,617 shares of the information services provider’s stock worth $3,658,702,000 after acquiring an additional 57,295 shares during the period. Finally, Johanson Financial Advisors Inc. raised its position in shares of Alphabet by 129,857.5% in the fourth quarter. Johanson Financial Advisors Inc. now owns 2,622,543 shares of the information services provider’s stock worth $1,958,000 after acquiring an additional 2,620,525 shares during the period. Institutional investors and hedge funds own 35.07% 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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