Alphabet’s (NASDAQ:GOOGL) Outperform Rating Reaffirmed at FBR & Co

Alphabet Inc. (NASDAQ:GOOGL)‘s stock had its “outperform” rating restated by research analysts at FBR & Co in a research note issued to investors on Tuesday, July 25th. They currently have a $1,050.00 target price on the information services provider’s stock, up from their previous target price of $1,032.00. FBR & Co’s price objective would indicate a potential upside of 12.89% from the stock’s current price.

A number of other analysts have also recently issued reports on the company. Vetr raised Alphabet from a “buy” rating to a “strong-buy” rating and set a $1,069.98 price objective on the stock in a report on Tuesday, June 27th. Pacific Crest reissued an “overweight” rating and set a $1,040.00 price objective on shares of Alphabet in a report on Sunday, April 23rd. BMO Capital Markets reissued an “outperform” rating and set a $1,005.00 price objective on shares of Alphabet in a report on Monday, March 27th. Barclays PLC initiated coverage on Alphabet in a research note on Tuesday, March 28th. They issued an “overweight” rating and a $1,065.00 target price on the stock. Finally, Societe Generale set a $1,210.00 target price on Alphabet and gave the stock a “buy” rating in a research note on Friday, July 7th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, forty-two have given a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $1,049.20.

Alphabet (NASDAQ GOOGL) traded up 0.70% during midday trading on Tuesday, hitting $930.09. The stock had a trading volume of 1,616,708 shares. Alphabet has a 1-year low of $743.59 and a 1-year high of $1,008.61. The stock has a market capitalization of $644.44 billion, a PE ratio of 33.71 and a beta of 0.99. The stock’s 50-day moving average is $956.22 and its 200-day moving average is $908.99.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Monday, July 24th. The information services provider reported $5.01 EPS for the quarter, missing analysts’ consensus estimates of $8.25 by $3.24. The firm had revenue of $20.92 billion for the quarter, compared to analysts’ expectations of $20.83 billion. Alphabet had a net margin of 19.49% and a return on equity of 13.66%. During the same period in the prior year, the company earned $8.42 EPS. On average, equities research analysts anticipate that Alphabet will post $30.59 EPS for the current fiscal year.

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Several hedge funds have recently bought and sold shares of GOOGL. State of Alaska Department of Revenue acquired a new stake in Alphabet during the second quarter worth approximately $102,000. Franklin Parlapiano Turner & Welch LLC acquired a new stake in Alphabet during the first quarter worth approximately $108,000. Parkside Financial Bank & Trust raised its stake in Alphabet by 39.6% in the second quarter. Parkside Financial Bank & Trust now owns 127 shares of the information services provider’s stock worth $118,000 after buying an additional 36 shares during the last quarter. Delta Asset Management LLC TN raised 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 last quarter. Finally, Lloyds Banking Group plc purchased a new stake in shares of Alphabet during the second quarter valued at approximately $133,000. 34.31% of the stock is owned by institutional investors and hedge funds.

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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