Alphabet Inc. (NASDAQ:GOOGL)‘s stock had its “buy” rating reiterated by analysts at Goldman Sachs Group, Inc. (The) in a report released on Tuesday, July 25th. They presently have a $1,100.00 price objective on the information services provider’s stock. Goldman Sachs Group, Inc. (The)’s target price suggests a potential upside of 16.30% from the company’s current price.
GOOGL has been the topic of a number of other reports. JMP Securities restated an “outperform” rating and issued a $1,095.00 target price (up from $1,020.00) on shares of Alphabet in a report on Monday, May 1st. Cowen and Company restated an “outperform” rating and issued 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 shares of 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 restated a “buy” rating and issued a $1,170.00 target price (up from $1,000.00) on shares of Alphabet in a report on Monday, May 8th. Finally, Vetr downgraded shares of Alphabet from a “buy” rating to a “hold” rating and set a $893.60 target price on the stock. in a report on Monday, April 24th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, forty-two have given a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $1,043.51.
Alphabet (GOOGL) traded up 0.58% during mid-day trading on Tuesday, reaching $945.79. 1,254,574 shares of the company’s stock traded hands. The firm’s 50-day moving average price is $963.05 and its 200 day moving average price is $904.34. Alphabet has a one year low of $743.59 and a one year high of $1,008.61. The firm has a market cap of $655.32 billion, a price-to-earnings ratio of 34.28 and a beta of 0.99.
Alphabet (NASDAQ:GOOGL) last posted its earnings results on Monday, July 24th. The information services provider reported $5.01 earnings per share for the quarter, missing analysts’ consensus estimates 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 the consensus estimate of $20.83 billion. During the same quarter last year, the firm earned $8.42 earnings per share. On average, equities analysts forecast that Alphabet will post $30.59 EPS for the current year.
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A number of institutional investors have recently bought and sold shares of GOOGL. State of Alaska Department of Revenue bought a new position in Alphabet during the second quarter valued at about $102,000. Franklin Parlapiano Turner & Welch LLC bought a new position in Alphabet during the first quarter valued at about $108,000. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC increased its position in Alphabet by 71,762.1% in the fourth quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC now owns 115,698 shares of the information services provider’s stock valued at $116,000 after buying an additional 115,537 shares during the last quarter. Delta Asset Management LLC TN increased 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 valued at $116,000 after buying an additional 2 shares during the last quarter. Finally, Parkside Financial Bank & Trust increased its position in Alphabet by 39.6% in the second quarter. Parkside Financial Bank & Trust now owns 127 shares of the information services provider’s stock valued at $118,000 after buying an additional 36 shares during the last quarter. 34.37% of the stock is currently owned by institutional investors and hedge funds.
Alphabet Company Profile
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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