Alphabet Inc. (NASDAQ:GOOGL)‘s stock had its “buy” rating restated by stock analysts at Goldman Sachs Group, Inc. (The) in a note issued to investors on Tuesday. They presently have a $1,100.00 price objective on the information services provider’s stock. Goldman Sachs Group, Inc. (The)’s target price would indicate a potential upside of 13.95% from the stock’s current price.
Several other equities research analysts have also recently weighed in on GOOGL. UBS AG reiterated a “buy” rating and issued a $980.00 price objective on shares of Alphabet in a report on Monday, March 27th. B. Riley reissued a “buy” rating and issued a $1,032.00 target price on shares of Alphabet in a research report on Wednesday, May 3rd. Barclays PLC reissued an “overweight” rating and issued a $1,060.00 target price (down previously from $1,065.00) on shares of Alphabet in a research report on Tuesday. JMP Securities reissued a “buy” rating and issued a $1,077.00 target price (down previously from $1,095.00) on shares of Alphabet in a research report on Tuesday. Finally, Bank of America Corporation reissued a “buy” rating and issued a $1,100.00 target price (up previously from $1,035.00) on shares of Alphabet in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and forty-two have assigned a buy rating to the company. Alphabet currently has an average rating of “Buy” and a consensus price target of $1,041.11.
Alphabet (NASDAQ:GOOGL) traded down 2.78% during trading on Tuesday, hitting $938.50. The company had a trading volume of 2,101,622 shares. The stock has a market capitalization of $649.21 billion, a price-to-earnings ratio of 31.71 and a beta of 1.00. The company’s 50 day moving average price is $966.91 and its 200-day moving average price is $900.26. Alphabet has a 1-year low of $743.59 and a 1-year high of $1,008.61. Alphabet also was the target of unusually large options trading on Monday. Stock traders acquired 31,138 put options on the stock. This represents an increase of approximately 348% compared to the typical volume of 6,958 put options.
Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Monday, July 24th. The information services provider reported $5.01 earnings per share for the quarter, missing the consensus estimate of $8.25 by $3.24. Alphabet had a return on equity of 13.66% and a net margin of 19.49%. The business had revenue of $20.92 billion during the quarter, compared to analysts’ expectations of $20.83 billion. During the same quarter last year, the business posted $8.42 EPS. On average, analysts expect that Alphabet will post $30.57 EPS for the current year.
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Large investors have recently modified their holdings of the company. Ancora Advisors LLC boosted its stake in shares of Alphabet by 261.6% in the fourth quarter. Ancora Advisors LLC now owns 3,913 shares of the information services provider’s stock valued at $3,101,000 after buying an additional 2,831 shares during the last quarter. Alta Capital Management LLC boosted its stake in shares of Alphabet by 1.3% in the first quarter. Alta Capital Management LLC now owns 79,008 shares of the information services provider’s stock valued at $66,982,000 after buying an additional 1,001 shares during the last quarter. Chescapmanager LLC bought a new stake in shares of Alphabet during the fourth quarter valued at $9,509,000. Patriot Wealth Management Inc. boosted its stake in shares of Alphabet by 2.6% in the first quarter. Patriot Wealth Management Inc. now owns 5,599 shares of the information services provider’s stock valued at $4,747,000 after buying an additional 141 shares during the last quarter. Finally, JW Asset Management LLC boosted its stake in shares of Alphabet by 40.0% in the fourth quarter. JW Asset Management LLC now owns 10,500 shares of the information services provider’s stock valued at $8,321,000 after buying an additional 3,000 shares during the last quarter. 34.36% of the stock is currently owned by institutional investors.
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.
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