Credit Suisse Group AG Reaffirms “Outperform” Rating for Alphabet Inc. (GOOGL)
Alphabet Inc. (NASDAQ:GOOGL)‘s stock had its “outperform” rating reissued by equities researchers at Credit Suisse Group AG in a research report issued to clients and investors on Monday. They currently have a $1,070.00 price objective on the stock, up from their prior price objective of $940.00. Credit Suisse Group AG’s target price suggests a potential upside of 32.62% from the company’s current price.
GOOGL has been the topic of a number of other reports. Robert W. Baird reiterated a “buy” rating on shares of Alphabet in a research note on Sunday, July 17th. Bank of America Corp. reiterated a “buy” rating and issued a $925.00 target price on shares of Alphabet in a research note on Sunday, July 17th. Deutsche Bank AG restated a “buy” rating on shares of Alphabet in a research report on Sunday, July 10th. B. Riley restated a “buy” rating and issued a $950.00 price target on shares of Alphabet in a research report on Friday, July 29th. Finally, Needham & Company LLC restated a “buy” rating and issued a $900.00 price target (up from $825.00) on shares of Alphabet in a research report on Sunday, July 31st. One equities research 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 stock. The stock currently has a consensus rating of “Buy” and an average price target of $929.27.
Shares of Alphabet (NASDAQ:GOOGL) traded up 0.28% during midday trading on Monday, hitting $806.84. 1,056,217 shares of the stock were exchanged. The stock’s 50 day moving average is $801.64 and its 200 day moving average is $761.61. The firm has a market cap of $554.52 billion, a P/E ratio of 31.26 and a beta of 1.00. Alphabet has a 12-month low of $670.70 and a 12-month high of $819.86.
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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 for the quarter, beating 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%. On average, equities research analysts forecast that Alphabet will post $34.11 earnings per share for the current fiscal year.
A number of large investors have recently made changes to their positions in the company. Credit Agricole S A increased its stake in 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 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. Oppenheimer & Co. Inc. increased its stake in Alphabet by 6.0% in the fourth quarter. Oppenheimer & Co. Inc. now owns 20,252 shares of the company’s stock worth $15,756,000 after buying an additional 1,141 shares during the last quarter. First Citizens Bank & Trust Co. increased its stake in Alphabet by 22.2% in the fourth quarter. First Citizens Bank & Trust Co. now owns 22,297 shares of the company’s stock worth $17,348,000 after buying an additional 4,049 shares during the last quarter. Finally, Aviva PLC increased its stake in 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. Hedge funds and other institutional investors own 34.15% 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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