Alphabet Inc (NASDAQ:GOOGL) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Monday.

According to Zacks, “Alphabet is one of the leading providers of target-based advertisements on the web. Over the last one year, the stock has outperformed the Zacks Internet-Services industry. Alphabet has shown good execution to date, more or less maintaining its dominant share in a competitive, fast-growing search market. Its focus on innovation, strategic acquisitions and Android OS should continue to generate strong cash flows. Its diversification strategy is also positive, but requires significant investment and involves uncertain payback periods, particularly since these efforts are at the cutting edge of technology. “

Other research analysts have also issued research reports about the stock. UBS AG reissued a “buy” rating and issued a $980.00 price objective on shares of Alphabet in a research note on Monday, March 27th. B. Riley reiterated a “buy” rating and issued a $1,032.00 price target on shares of Alphabet in a research note on Wednesday, May 3rd. Pivotal Research reiterated a “hold” rating and issued a $980.00 price target (down previously from $990.00) on shares of Alphabet in a research note on Monday. Argus reiterated a “buy” rating and issued a $968.72 price target (down previously from $1,085.00) on shares of Alphabet in a research note on Friday. Finally, Societe Generale set a $1,210.00 price objective on shares of Alphabet and gave the stock a “buy” rating in a report on Friday, July 7th. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and forty-one have given a buy rating to the company’s stock. Alphabet has an average rating of “Buy” and a consensus price target of $1,016.39.

Shares of Alphabet (GOOGL) traded up 0.158% during midday trading on Monday, hitting $978.451. 767,703 shares of the company traded hands. The stock has a market capitalization of $676.84 billion, a P/E ratio of 33.064 and a beta of 1.00. Alphabet has a 52 week low of $734.64 and a 52 week high of $1,008.61. The company has a 50-day moving average price of $972.78 and a 200-day moving average price of $880.30.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Thursday, April 27th. The information services provider reported $7.73 EPS for the quarter, beating the consensus estimate of $7.24 by $0.49. The business had revenue of $20.12 billion for the quarter, compared to the consensus estimate of $19.65 billion. Alphabet had a net margin of 21.92% and a return on equity of 15.33%. During the same period in the prior year, the firm earned $7.50 EPS. Analysts anticipate that Alphabet will post $34.01 earnings per share for the current fiscal year.

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Hedge funds have recently bought and sold shares of the company. State of Alaska Department of Revenue bought a new position in Alphabet during the second quarter worth about $102,000. Franklin Parlapiano Turner & Welch LLC bought a new position in Alphabet during the first quarter worth about $108,000. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC increased its position in Alphabet by 71,762.1% in the fourth quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC now owns 115,698 shares of the information services provider’s stock worth $116,000 after buying an additional 115,537 shares during the last quarter. Delta Asset Management LLC TN increased its position in Alphabet by 1.5% in the first quarter. Delta Asset Management LLC TN now owns 136 shares of the information services provider’s stock worth $116,000 after buying an additional 2 shares during the last quarter. Finally, Farmers National Bank increased its position in Alphabet by 2.7% in the first quarter. Farmers National Bank now owns 150 shares of the information services provider’s stock worth $127,000 after buying an additional 4 shares during the last quarter. Institutional investors own 34.33% of the company’s stock.

About Alphabet

Alphabet Inc is a holding company. The Company’s businesses include Google Inc (Google) and its Internet products, such as Access, Calico, CapitalG, GV, Nest, Verily, Waymo and X. The Company’s segments include Google and Other Bets. The Google segment includes its Internet products, such as Search, Ads, Commerce, Maps, YouTube, Google Cloud, Android, Chrome and Google Play, as well as its hardware initiatives.

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Analyst Recommendations for Alphabet (NASDAQ:GOOGL)

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