FBR & Co Reiterates “Outperform” Rating for Alphabet Inc. (NASDAQ:GOOGL)

Alphabet Inc. (NASDAQ:GOOGL)‘s stock had its “outperform” rating reissued by equities researchers at FBR & Co in a research report issued on Tuesday. They currently have a $1,050.00 price objective on the information services provider’s stock, up from their previous price objective of $1,032.00. FBR & Co’s price target suggests a potential upside of 5.18% from the company’s current price.

Several other analysts also recently issued reports on GOOGL. JMP Securities reaffirmed an “outperform” rating and issued a $1,095.00 price objective (up previously from $1,020.00) on shares of Alphabet in a research report on Monday, May 1st. Cowen and Company reaffirmed an “outperform” rating and set a $1,050.00 target price on shares of Alphabet in a report on Monday, April 24th. Societe Generale set a $1,210.00 target price on Alphabet and gave the stock a “buy” rating in a report on Friday, July 7th. They noted that the move was a valuation call. MKM Partners reissued a “buy” rating and issued a $1,170.00 price target (up previously from $1,000.00) on shares of Alphabet in a research note on Monday, May 8th. Finally, Vetr cut Alphabet from a “buy” rating to a “hold” rating and set a $893.60 price target on the stock. in a research note on Monday, April 24th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and forty-one have assigned a buy rating to the company. Alphabet has an average rating of “Buy” and an average price target of $1,041.02.

Alphabet (NASDAQ:GOOGL) traded down 2.63% during mid-day trading on Tuesday, reaching $972.02. 4,190,824 shares of the company traded hands. The stock’s 50 day moving average price is $968.80 and its 200 day moving average price is $898.73. The firm has a market capitalization of $672.39 billion, a price-to-earnings ratio of 32.85 and a beta of 1.00. Alphabet has a 52 week low of $743.59 and a 52 week high of $1,008.61. Alphabet also was the recipient of some unusual options trading activity on Monday. Stock investors bought 31,138 put options on the company. This is an increase of 348% compared to the typical daily volume of 6,958 put options.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Monday, July 24th. The information services provider reported $5.01 EPS for the quarter, missing the Zacks’ consensus estimate of $8.25 by $3.24. The business had revenue of $20.92 billion during the quarter, compared to analyst estimates of $20.83 billion. Alphabet had a net margin of 21.84% and a return on equity of 15.16%. During the same period in the previous year, the company posted $8.42 earnings per share. Equities analysts forecast that Alphabet will post $30.57 EPS for the current year.

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A number of hedge funds have recently made changes to their positions in GOOGL. Jackson Grant Investment Advisers Inc. raised its position in 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 in the last quarter. Pure Financial Advisors Inc. increased its stake in shares of Alphabet by 0.4% in the second quarter. Pure Financial Advisors Inc. now owns 278 shares of the information services provider’s stock valued at $258,000 after buying an additional 1 shares during the period. Delta Asset Management LLC TN increased its stake in shares of Alphabet by 1.5% in the first quarter. Delta Asset Management LLC TN now owns 136 shares of the information services provider’s stock valued at $116,000 after buying an additional 2 shares during the period. Baystate Wealth Management LLC increased its stake in shares of Alphabet by 0.7% in the second quarter. Baystate Wealth Management LLC now owns 295 shares of the information services provider’s stock valued at $288,000 after buying an additional 2 shares during the period. Finally, InterOcean Capital LLC increased its stake in shares of Alphabet by 0.3% in the fourth quarter. InterOcean Capital LLC now owns 971 shares of the information services provider’s stock valued at $769,000 after buying an additional 3 shares during the period. Hedge funds and other institutional investors own 34.36% 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.