Alphabet Inc. (GOOGL) Stock Rating Reaffirmed by Cantor Fitzgerald
Alphabet Inc. (NASDAQ:GOOGL)‘s stock had its “buy” rating reaffirmed by analysts at Cantor Fitzgerald in a research report issued to clients and investors on Wednesday. They presently have a $1,000.00 target price on the stock. Cantor Fitzgerald’s price objective suggests a potential upside of 24.89% from the company’s current price.
A number of other research firms have also recently commented on GOOGL. Wedbush cut Alphabet from a “neutral” rating to an “underperform” rating and boosted their price target for the stock from $7.20 to $800.00 in a report on Tuesday, September 27th. Morgan Stanley reaffirmed a “buy” rating and set a $880.00 price objective on shares of Alphabet in a report on Thursday, September 29th. RBC Capital Markets reaffirmed an “outperform” rating and set a $1,025.00 price objective (up from $1,000.00) on shares of Alphabet in a report on Friday, September 30th. Jefferies Group reaffirmed a “buy” rating and set a $1,000.00 price objective on shares of Alphabet in a report on Monday, October 3rd. Finally, JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $950.00 price objective on shares of Alphabet in a report on Friday, September 9th. One analyst has rated the stock with a sell rating, one has given a hold rating, forty-seven have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $926.06.
Shares of Alphabet (NASDAQ:GOOGL) traded down 0.30% on Wednesday, hitting $800.71. 1,163,899 shares of the stock traded hands. The firm has a market cap of $550.31 billion, a PE ratio of 31.02 and a beta of 1.00. Alphabet has a 52-week low of $667.24 and a 52-week high of $819.06. The firm has a 50 day moving average price of $799.75 and a 200 day moving average price of $759.77.
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Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Thursday, July 28th. The company reported $8.42 EPS for the quarter, topping the Zacks’ 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 analysts forecast that Alphabet will post $34.11 EPS for the current year.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bank of Montreal Can acquired a new position in Alphabet during the second quarter valued at about $761,801,000. Emerald Acquisition Ltd. acquired a new position in Alphabet during the second quarter valued at about $400,022,000. Boston Partners boosted its position in Alphabet by 150.0% in the second quarter. Boston Partners now owns 810,490 shares of the company’s stock valued at $570,204,000 after buying an additional 486,266 shares in the last quarter. Vanguard Group Inc. boosted its position in Alphabet by 2.1% in the second quarter. Vanguard Group Inc. now owns 18,198,649 shares of the company’s stock valued at $12,803,295,000 after buying an additional 375,941 shares in the last quarter. Finally, Canada Pension Plan Investment Board boosted its position in Alphabet by 59.7% in the second quarter. Canada Pension Plan Investment Board now owns 874,328 shares of the company’s stock valued at $615,116,000 after buying an additional 326,759 shares in the last quarter. 34.12% of the stock is owned by hedge funds and other institutional investors.
Alphabet Company Profile
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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