Robert W. Baird Reiterates Outperform Rating for Alphabet Inc. (GOOGL)
Alphabet Inc. (NASDAQ:GOOGL)‘s stock had its “outperform” rating reissued by Robert W. Baird in a report issued on Saturday. They currently have a $1,100.00 price objective on the information services provider’s stock. Robert W. Baird’s price objective indicates a potential upside of 16.62% from the stock’s current price.
Several other research firms have also commented on GOOGL. UBS AG reiterated a “buy” rating and issued a $1,080.00 price objective on shares of Alphabet in a research report on Friday, September 8th. Zacks Investment Research lowered shares of Alphabet from a “hold” rating to a “sell” rating in a research report on Monday, July 17th. Credit Suisse Group reiterated an “outperform” rating on shares of Alphabet in a research report on Friday, June 30th. SunTrust Banks, Inc. started coverage on shares of Alphabet in a research report on Tuesday, August 15th. They issued a “buy” rating and a $1,100.00 price objective on the stock. Finally, Piper Jaffray Companies reiterated an “overweight” rating and issued a $1,050.00 price objective on shares of Alphabet in a research report on Wednesday, August 9th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, forty-one have issued a buy rating and two have issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $1,054.01.
Alphabet (NASDAQ:GOOGL) traded down 0.45% during trading on Friday, reaching $943.26. 1,074,806 shares of the company’s stock traded hands. The firm’s 50 day moving average price is $939.49 and its 200-day moving average price is $928.76. The stock has a market cap of $653.57 billion, a P/E ratio of 34.18 and a beta of 0.98. Alphabet has a one year low of $743.59 and a one year high of $1,008.61. Alphabet also was the target of unusually large options trading activity on Wednesday. Stock traders bought 20,437 call options on the stock. This represents an increase of 108% compared to the typical daily volume of 9,814 call options.
Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Monday, July 24th. The information services provider reported $5.01 EPS for the quarter, missing the consensus estimate of $8.25 by ($3.24). Alphabet had a return on equity of 13.66% and a net margin of 19.49%. The business had revenue of $20.92 billion during the quarter, compared to analysts’ expectations of $20.83 billion. During the same quarter in the prior year, the firm earned $8.42 earnings per share. On average, equities analysts anticipate that Alphabet will post $30.59 earnings per share for the current fiscal year.
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A number of institutional investors have recently modified their holdings of the stock. Bank of New York Mellon Corp boosted its stake in shares of Alphabet by 0.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 4,096,211 shares of the information services provider’s stock worth $2,881,806,000 after buying an additional 14,001 shares during the last quarter. Credit Agricole S A increased its holdings in shares of Alphabet by 3.7% in the first quarter. Credit Agricole S A now owns 375,148 shares of the information services provider’s stock worth $286,204,000 after purchasing an additional 13,399 shares during the period. AXA increased its holdings in shares of Alphabet by 12.1% in the first quarter. AXA now owns 452,331 shares of the information services provider’s stock worth $345,083,000 after purchasing an additional 48,771 shares during the period. CIBC World Markets Inc. increased its holdings in shares of Alphabet by 33.9% in the third quarter. CIBC World Markets Inc. now owns 43,753 shares of the information services provider’s stock worth $35,180,000 after purchasing an additional 11,065 shares during the period. Finally, Oppenheimer & Co. Inc. increased its holdings in shares of Alphabet by 6.0% in the fourth quarter. Oppenheimer & Co. Inc. now owns 20,252 shares of the information services provider’s stock worth $15,756,000 after purchasing an additional 1,141 shares during the period. 33.85% of the stock is owned by institutional investors and hedge funds.
Alphabet Company Profile
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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