Alphabet’s (GOOGL) Outperform Rating Reaffirmed at Raymond James Financial Inc.
Alphabet Inc. (NASDAQ:GOOGL)‘s stock had its “outperform” rating reaffirmed by equities research analysts at Raymond James Financial Inc. in a research report issued to clients and investors on Friday.
Other analysts have also recently issued research reports about the stock. Pacific Crest reaffirmed a “buy” rating on shares of Alphabet in a research note on Wednesday, June 22nd. Evercore ISI reaffirmed a “buy” rating and set a $830.00 target price (down previously from $950.00) on shares of Alphabet in a research note on Thursday, June 23rd. Citigroup Inc. reaffirmed a “buy” rating and set a $900.00 target price on shares of Alphabet in a research note on Friday, June 17th. Vetr cut shares of Alphabet from a “strong-buy” rating to a “buy” rating and set a $815.96 price objective on the stock. in a research note on Wednesday, June 15th. Finally, Goldman Sachs Group Inc. reissued a “buy” rating on shares of Alphabet in a research note on Monday, June 13th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, forty-seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $926.06.
Shares of Alphabet (NASDAQ:GOOGL) traded down 0.30% during mid-day trading on Friday, reaching $800.71. The company had a trading volume of 1,163,899 shares. The firm has a market capitalization of $550.31 billion, a price-to-earnings ratio of 31.02 and a beta of 1.00. Alphabet has a one year low of $667.24 and a one year high of $819.06. The stock has a 50 day moving average of $799.75 and a 200-day moving average of $759.77.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at https://www.americanbankingnews.com/2016/10/07/alphabets-googl-outperform-rating-reaffirmed-at-raymond-james-financial-inc.html
Alphabet (NASDAQ:GOOGL) last posted its earnings results on Thursday, July 28th. The company reported $8.42 earnings per share for the quarter, topping analysts’ consensus estimates of $8.04 by $0.38. Alphabet had a net margin of 22.00% and a return on equity of 14.74%. Equities analysts predict that Alphabet will post $34.11 EPS for the current year.
Institutional investors have recently modified their holdings of the company. Country Trust Bank boosted its position in shares of Alphabet by 14.8% in the first quarter. Country Trust Bank now owns 47,067 shares of the company’s stock worth $35,907,000 after buying an additional 6,070 shares during the last quarter. Sigma Planning Corp boosted its position in shares of Alphabet by 5.7% in the first quarter. Sigma Planning Corp now owns 3,120 shares of the company’s stock worth $2,381,000 after buying an additional 169 shares during the last quarter. Traynor Capital Management Inc. boosted its position in shares of Alphabet by 2.1% in the first quarter. Traynor Capital Management Inc. now owns 6,910 shares of the company’s stock worth $5,271,000 after buying an additional 141 shares during the last quarter. V Wealth Management LLC acquired a new position in shares of Alphabet during the first quarter worth approximately $2,026,000. Finally, Howard Capital Management boosted its position in shares of Alphabet by 1.3% in the first quarter. Howard Capital Management now owns 15,157 shares of the company’s stock worth $11,563,000 after buying an additional 190 shares during the last quarter. Institutional investors own 34.12% of the company’s stock.
Alphabet Inc is a holding company. The Company holds interests in Google Inc (Google). The Company’s segments include Google and Other Bets. Google segment includes Internet products, such as Search, Ads, Commerce, Maps, YouTube, Apps, Cloud, Android, Chrome, Google Play, and hardware products, including Chromecast, Chromebooks and Nexus, which are sold by the Company.
Receive News & Ratings for Alphabet Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alphabet Inc. and related companies with MarketBeat.com's FREE daily email newsletter.