Alphabet (NASDAQ:GOOGL) had its price target lifted by equities research analysts at Cowen from $1,150.00 to $1,230.00 in a research note issued to investors on Thursday. The firm presently has an “outperform” rating on the information services provider’s stock. Cowen’s price target suggests a potential upside of 10.78% from the company’s previous close.
Other equities research analysts have also recently issued research reports about the stock. Stifel Nicolaus restated a “buy” rating and set a $1,150.00 target price (up previously from $1,075.00) on shares of Alphabet in a research note on Tuesday, October 24th. Cantor Fitzgerald restated a “buy” rating and set a $1,100.00 target price on shares of Alphabet in a research note on Tuesday, October 24th. Vetr upgraded shares of Alphabet from a “sell” rating to a “hold” rating and set a $1,027.27 target price on the stock in a research note on Monday, November 6th. B. Riley reaffirmed a “buy” rating and set a $1,050.00 price objective on shares of Alphabet in a report on Monday, September 25th. Finally, Barclays reaffirmed a “buy” rating and set a $1,260.00 price objective on shares of Alphabet in a report on Friday, October 27th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, forty have assigned a buy rating and one has given a strong buy rating to the company. Alphabet currently has an average rating of “Buy” and a consensus price target of $1,096.47.
Shares of Alphabet (NASDAQ GOOGL) traded up $14.53 during trading hours on Thursday, hitting $1,110.29. 1,509,000 shares of the stock traded hands, compared to its average volume of 1,540,000. Alphabet has a 52-week low of $811.50 and a 52-week high of $1,113.58. The company has a quick ratio of 5.73, a current ratio of 5.77 and a debt-to-equity ratio of 0.03. The company has a market cap of $768,620.00, a PE ratio of 36.99, a PEG ratio of 1.45 and a beta of 0.90.
Institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. raised its holdings in shares of Alphabet by 3.3% in the second quarter. Vanguard Group Inc. now owns 20,570,476 shares of the information services provider’s stock valued at $19,123,960,000 after acquiring an additional 662,279 shares in the last quarter. BlackRock Inc. raised its holdings in shares of Alphabet by 3.1% in the second quarter. BlackRock Inc. now owns 18,633,934 shares of the information services provider’s stock valued at $17,323,595,000 after acquiring an additional 567,337 shares in the last quarter. FMR LLC raised its holdings in shares of Alphabet by 2.1% in the second quarter. FMR LLC now owns 17,647,327 shares of the information services provider’s stock valued at $16,406,366,000 after acquiring an additional 367,634 shares in the last quarter. State Street Corp raised its holdings in shares of Alphabet by 1.2% in the first quarter. State Street Corp now owns 11,946,348 shares of the information services provider’s stock valued at $10,128,119,000 after acquiring an additional 142,214 shares in the last quarter. Finally, Capital Research Global Investors raised its holdings in shares of Alphabet by 2.4% in the second quarter. Capital Research Global Investors now owns 4,308,195 shares of the information services provider’s stock valued at $4,005,243,000 after acquiring an additional 102,133 shares in the last quarter. Institutional investors own 33.55% of the company’s stock.
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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.
