Alphabet Inc. (GOOGL) Receives Buy Rating from Deutsche Bank AG
Alphabet Inc. (NASDAQ:GOOGL)‘s stock had its “buy” rating reaffirmed by research analysts at Deutsche Bank AG in a note issued to investors on Wednesday. They currently have a $1,050.00 price target on the stock. Deutsche Bank AG’s target price would suggest a potential upside of 29.35% from the company’s current price.
GOOGL has been the subject of several other reports. Morgan Stanley restated a “buy” rating and issued a $880.00 price target on shares of Alphabet in a research note on Thursday, September 29th. Cantor Fitzgerald reaffirmed a “buy” rating and set a $1,000.00 price objective on shares of Alphabet in a report on Wednesday, October 5th. 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. Vetr raised Alphabet from a “hold” rating to a “buy” rating and set a $838.19 price objective on the stock in a report on Monday, August 22nd. Finally, Bank of America Corp. reaffirmed a “buy” rating and set a $960.00 price objective on shares of Alphabet in a report on Wednesday, August 31st. One research 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 given a strong buy rating to the stock. Alphabet currently has a consensus rating of “Buy” and an average price target of $926.50.
Shares of Alphabet (NASDAQ:GOOGL) traded up 0.27% on Wednesday, hitting $811.77. 905,703 shares of the stock traded hands. The firm has a 50 day moving average price of $800.52 and a 200 day moving average price of $760.57. Alphabet has a 52-week low of $670.70 and a 52-week high of $819.86. The firm has a market cap of $557.91 billion, a PE ratio of 31.45 and a beta of 1.00.
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Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Thursday, July 28th. The company reported $8.42 earnings per share for the quarter, topping the Thomson Reuters’ 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.
A number of large investors have recently bought and sold shares of GOOGL. Bank of Montreal Can purchased a new stake in Alphabet during the second quarter valued at about $761,801,000. Emerald Acquisition Ltd. purchased a new stake in Alphabet during the second quarter valued at about $400,022,000. Boston Partners increased its stake 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. increased its stake 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 increased its stake 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. 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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