Alphabet’s (GOOGL) “Outperform” Rating Reiterated at Raymond James Financial Inc.
Alphabet Inc. (NASDAQ:GOOGL)‘s stock had its “outperform” rating reissued by stock analysts at Raymond James Financial Inc. in a note issued to investors on Friday.
GOOGL has been the subject of several other reports. Mizuho reissued a “buy” rating and set a $1,020.00 price target (up from $1,010.00) on shares of Alphabet in a research report on Sunday, July 31st. Bank of America Corp. reissued a “buy” rating and set a $960.00 price target on shares of Alphabet in a research report on Monday, September 26th. Macquarie reissued an “outperform” rating on shares of Alphabet in a research report on Tuesday, July 19th. Evercore ISI reissued a “buy” rating and set a $830.00 price target on shares of Alphabet in a research report on Tuesday, July 26th. Finally, JMP Securities increased their price target on Alphabet from $904.00 to $928.00 and gave the company a “market outperform” rating in a research report on Friday, July 29th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, forty-seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average 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, hitting $800.71. The stock had a trading volume of 1,163,899 shares. The stock has a 50 day moving average of $799.75 and a 200-day moving average of $759.77. Alphabet has a 52 week low of $667.24 and a 52 week high of $819.06. The stock has a market capitalization of $550.31 billion, a P/E ratio of 31.02 and a beta of 1.00.
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Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data on Thursday, July 28th. The company reported $8.42 earnings per share for the quarter, topping the consensus estimate of $8.04 by $0.38. Alphabet had a return on equity of 14.74% and a net margin of 22.00%. On average, equities research analysts predict that Alphabet will post $34.11 earnings per share for the current year.
Several hedge funds have recently modified their holdings of the stock. Credit Agricole S A increased its stake in shares of Alphabet by 3.7% in the first quarter. Credit Agricole S A now owns 375,148 shares of the company’s stock worth $286,204,000 after buying an additional 13,399 shares during the last quarter. AXA increased its stake in shares of Alphabet by 12.1% in the first quarter. AXA now owns 452,331 shares of the company’s stock worth $345,083,000 after buying an additional 48,771 shares during the last quarter. Aviva PLC increased its stake in shares of Alphabet by 2.1% in the first quarter. Aviva PLC now owns 178,763 shares of the company’s stock worth $136,378,000 after buying an additional 3,711 shares during the last quarter. Marathon Asset Management LLP increased its stake in shares of Alphabet by 1.9% in the second quarter. Marathon Asset Management LLP now owns 52,006 shares of the company’s stock worth $36,583,000 after buying an additional 992 shares during the last quarter. Finally, Chevy Chase Trust Holdings Inc. increased its stake in shares of Alphabet by 1.8% in the second quarter. Chevy Chase Trust Holdings Inc. now owns 295,125 shares of the company’s stock worth $207,629,000 after buying an additional 5,263 shares during the last quarter. 34.12% of the stock is owned by institutional investors.
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.
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