Alphabet Inc. (GOOGL) Receives Consensus Rating of “Buy” from Analysts
Alphabet Inc. (NASDAQ:GOOGL) has received a consensus recommendation of “Buy” from the fifty-one research firms that are presently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, seven have issued a hold recommendation, forty-one have given a buy recommendation and two have issued a strong buy recommendation on the company. The average 12-month target price among analysts that have covered the stock in the last year is $1,057.01.
GOOGL has been the subject of several recent research reports. Zacks Investment Research downgraded shares of Alphabet from a “buy” rating to a “hold” rating in a research note on Monday, July 24th. Citigroup Inc. increased their price objective on Alphabet from $1,135.00 to $1,180.00 and gave the stock a “buy” rating in a research report on Tuesday, July 25th. They noted that the move was a valuation call. UBS AG reiterated a “buy” rating and issued a $1,080.00 target price (up from $1,050.00) on shares of Alphabet in a research note on Tuesday, July 25th. Barclays PLC reissued an “overweight” rating and issued a $1,060.00 target price (down previously from $1,065.00) on shares of Alphabet in a report on Tuesday, July 25th. Finally, Goldman Sachs Group, Inc. (The) restated a “buy” rating and set a $1,100.00 price target on shares of Alphabet in a research note on Tuesday, July 25th.
Several institutional investors have recently added to or reduced their stakes in the company. State of Alaska Department of Revenue purchased a new position in Alphabet during the 2nd quarter valued at about $102,000. Franklin Parlapiano Turner & Welch LLC purchased a new stake in shares of Alphabet in the first quarter worth approximately $108,000. Delta Asset Management LLC TN lifted its position in shares of 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 purchasing an additional 2 shares in the last quarter. Parkside Financial Bank & Trust lifted its position in shares of Alphabet by 39.6% in the second quarter. Parkside Financial Bank & Trust now owns 127 shares of the information services provider’s stock worth $118,000 after purchasing an additional 36 shares in the last quarter. Finally, Odey Holdings AG lifted its position in shares of Alphabet by 18.2% in the second quarter. Odey Holdings AG now owns 130 shares of the information services provider’s stock worth $121,000 after purchasing an additional 20 shares in the last quarter. 33.85% of the stock is currently owned by institutional investors and hedge funds.
Shares of Alphabet (GOOGL) traded down 0.37% during midday trading on Wednesday, reaching $968.52. The company had a trading volume of 512,973 shares. The stock has a market capitalization of $671.07 billion, a PE ratio of 35.10 and a beta of 0.96. The company’s 50 day moving average price is $943.64 and its 200 day moving average price is $935.54. Alphabet has a 52-week low of $743.59 and a 52-week high of $1,008.61.
Alphabet (NASDAQ:GOOGL) last announced its earnings results on Monday, July 24th. The information services provider reported $5.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $8.25 by ($3.24). The firm had revenue of $20.92 billion during the quarter, compared to analyst estimates of $20.83 billion. Alphabet had a net margin of 19.49% and a return on equity of 13.66%. During the same period last year, the company earned $8.42 earnings per share. Equities research analysts expect that Alphabet will post $30.59 earnings per share for the current year.
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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