Pivotal Research Reiterates “Hold” Rating for Alphabet Inc. (NASDAQ:GOOGL)

Alphabet Inc. (NASDAQ:GOOGL)‘s stock had its “hold” rating restated by investment analysts at Pivotal Research in a report released on Monday. They presently have a $980.00 price objective on the information services provider’s stock, down from their prior price objective of $990.00. Pivotal Research’s target price would indicate a potential downside of 0.70% from the stock’s current price.

A number of other equities analysts also recently weighed in on GOOGL. UBS AG reaffirmed a “buy” rating and set a $980.00 target price on shares of Alphabet in a research note on Monday, March 27th. B. Riley reaffirmed a “buy” rating and set a $1,032.00 target price on shares of Alphabet in a research note on Friday, April 28th. Zacks Investment Research downgraded shares of Alphabet from a “buy” rating to a “hold” rating in a research note on Monday, April 17th. Goldman Sachs Group, Inc. (The) decreased their target price on shares of Alphabet from $1,100.00 to $970.00 and set a “buy” rating for the company in a research note on Friday, April 28th. Finally, Vetr raised shares of Alphabet from a “buy” rating to a “strong-buy” rating and set a $1,053.55 target price for the company in a research note on Monday, July 3rd. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and forty have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $1,018.58.

Shares of Alphabet (NASDAQ:GOOGL) traded up 0.68% on Monday, hitting $993.62. The stock had a trading volume of 750,386 shares. The firm has a 50-day moving average of $968.53 and a 200 day moving average of $893.96. The company has a market capitalization of $687.33 billion, a PE ratio of 33.58 and a beta of 1.00. Alphabet has a 1-year low of $743.59 and a 1-year high of $1,008.61.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Thursday, April 27th. The information services provider reported $7.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.24 by $0.49. Alphabet had a net margin of 21.84% and a return on equity of 15.16%. The business had revenue of $20.12 billion during the quarter, compared to analyst estimates of $19.65 billion. During the same period in the prior year, the business posted $7.50 earnings per share. On average, equities analysts anticipate that Alphabet will post $33.98 earnings per share for the current fiscal year.

Several institutional investors have recently added to or reduced their stakes in GOOGL. Jackson Grant Investment Advisers Inc. raised its position in shares of Alphabet by 0.6% in the fourth quarter. Jackson Grant Investment Advisers Inc. now owns 170 shares of the information services provider’s stock worth $135,000 after buying an additional 1 shares during the period. Pure Financial Advisors Inc. raised its position in Alphabet by 0.4% in the second quarter. Pure Financial Advisors Inc. now owns 278 shares of the information services provider’s stock worth $258,000 after buying an additional 1 shares during the period. Delta Asset Management LLC TN raised its position in Alphabet by 1.5% in the first quarter. Delta Asset Management LLC TN now owns 136 shares of the information services provider’s stock worth $116,000 after buying an additional 2 shares during the period. InterOcean Capital LLC raised its position in Alphabet by 0.3% in the fourth quarter. InterOcean Capital LLC now owns 971 shares of the information services provider’s stock worth $769,000 after buying an additional 3 shares during the period. Finally, RB Capital Management LLC raised its position in Alphabet by 0.4% in the second quarter. RB Capital Management LLC now owns 704 shares of the information services provider’s stock worth $654,000 after buying an additional 3 shares during the period. Institutional investors own 34.33% of the company’s stock.

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.