Evercore ISI Begins Coverage on Alphabet (GOOGL)
Analysts at Evercore ISI began coverage on shares of Alphabet (NASDAQ:GOOGL) in a research note issued on Tuesday, The Fly reports. The brokerage set an “outperform” rating on the information services provider’s stock.
Several other equities research analysts also recently issued reports on the stock. UBS reissued an “overweight” rating on shares of Alphabet in a research report on Thursday, August 24th. Stifel Nicolaus increased their price objective on shares of Alphabet from $1,075.00 to $1,150.00 and gave the stock a “buy” rating in a research report on Monday, October 30th. Bank of America reissued a “buy” rating and set a $1,100.00 price objective on shares of Alphabet in a research report on Tuesday, September 26th. Robert W. Baird reissued an “outperform” rating and set a $1,100.00 price objective on shares of Alphabet in a research report on Saturday, August 26th. Finally, Piper Jaffray Companies reissued a “buy” rating and set a $1,150.00 price objective on shares of Alphabet in a research report on Thursday, October 19th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, forty have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $1,089.17.
Alphabet (GOOGL) traded up $7.73 on Tuesday, reaching $1,019.60. 1,949,430 shares of the company’s stock traded hands, compared to its average volume of 1,631,161. The company has a current ratio of 5.77, a quick ratio of 5.73 and a debt-to-equity ratio of 0.03. The firm has a market capitalization of $705,450.00, a price-to-earnings ratio of 34.32, a PEG ratio of 1.72 and a beta of 0.90. Alphabet has a 12 month low of $773.32 and a 12 month high of $1,080.00.
Hedge funds have recently made changes to their positions in the business. State of Alaska Department of Revenue acquired a new stake in shares of Alphabet during the 2nd quarter worth about $102,000. Franklin Parlapiano Turner & Welch LLC acquired a new stake in shares of Alphabet during the 1st quarter worth about $108,000. Parkside Financial Bank & Trust lifted its stake in shares of Alphabet by 39.6% during the 2nd quarter. Parkside Financial Bank & Trust now owns 127 shares of the information services provider’s stock worth $118,000 after buying an additional 36 shares during the last quarter. Odey Holdings AG lifted its stake in shares of Alphabet by 18.2% during the 2nd quarter. Odey Holdings AG now owns 130 shares of the information services provider’s stock worth $121,000 after buying an additional 20 shares during the last quarter. Finally, Stelac Advisory Services LLC acquired a new stake in shares of Alphabet during the 3rd quarter worth about $126,000. Hedge funds and other institutional investors own 33.62% of the company’s stock.
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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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