Alphabet Inc. (GOOGL) Earns Buy Rating from Citigroup Inc.
Alphabet Inc. (NASDAQ:GOOGL)‘s stock had its “buy” rating reaffirmed by equities research analysts at Citigroup Inc. in a report released on Wednesday.
Other research analysts have also issued research reports about the stock. Wedbush lowered shares of Alphabet from a “neutral” rating to an “underperform” rating and increased their price target for the stock from $7.20 to $800.00 in a research report on Tuesday, September 27th. Morgan Stanley reissued a “buy” rating and issued a $880.00 price target on shares of Alphabet in a research report on Thursday, September 29th. Cantor Fitzgerald reissued a “buy” rating on shares of Alphabet in a research report on Sunday, August 14th. RBC Capital Markets reissued an “outperform” rating and issued a $1,025.00 price target (up previously from $1,000.00) on shares of Alphabet in a research report on Friday, September 30th. Finally, Jefferies Group reissued a “buy” rating and issued a $1,000.00 price target on shares of Alphabet in a research report on Monday, October 3rd. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, forty-seven have given a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $926.06.
Alphabet (NASDAQ:GOOGL) traded down 0.30% during mid-day trading on Wednesday, hitting $800.71. The stock had a trading volume of 1,163,899 shares. The stock has a market cap of $550.31 billion, a price-to-earnings ratio of 31.02 and a beta of 1.00. Alphabet has a 12-month low of $667.24 and a 12-month high of $819.06. The company has a 50-day moving average of $799.75 and a 200-day moving average of $759.77.
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Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Thursday, July 28th. The company reported $8.42 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $8.04 by $0.38. Alphabet had a net margin of 22.00% and a return on equity of 14.74%. On average, analysts anticipate that Alphabet will post $34.11 earnings per share for the current fiscal year.
Institutional investors have recently made changes to their positions in the stock. Advisory Services Network LLC boosted its position in shares of Alphabet by 1.8% in the third quarter. Advisory Services Network LLC now owns 2,230 shares of the company’s stock valued at $1,793,000 after buying an additional 40 shares during the period. Trust Co. of Oklahoma boosted its position in shares of Alphabet by 0.8% in the third quarter. Trust Co. of Oklahoma now owns 2,603 shares of the company’s stock valued at $2,093,000 after buying an additional 21 shares during the period. Catawba Capital Management VA acquired a new position in shares of Alphabet during the third quarter valued at about $215,000. Pure Financial Advisors Inc. acquired a new position in shares of Alphabet during the third quarter valued at about $231,000. Finally, Bremer Trust National Association boosted its position in shares of Alphabet by 90.9% in the third quarter. Bremer Trust National Association now owns 3,167 shares of the company’s stock valued at $2,546,000 after buying an additional 1,508 shares during the period. Hedge funds and other 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.
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