Alphabet (NASDAQ:GOOGL) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Tuesday. The brokerage presently has a $1,266.00 price objective on the information services provider’s stock. Zacks Investment Research‘s price objective suggests a potential upside of 11.98% from the company’s current price.

According to Zacks, “Alphabet's stock has outperformed the industry it belongs to on a 12-month basis. Alphabet's strong advertising revenues and improving paid click growth remain the growth drivers. Its focus on innovation, AI, cloud, home automation space, strategic acquisitions and Android OS should continue to generate strong cash flows. Alphabet has shown good execution to date, more or less maintaining its dominant share in a competitive, fast-growing search market. 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.  However, increasing litigation issues could continue to impact the company’s profits.”

A number of other equities analysts have also recently commented on GOOGL. CIBC reaffirmed an “outperform” rating and issued a $1,180.00 target price (up from $1,050.00) on shares of Alphabet in a report on Friday, October 27th. Pivotal Research reaffirmed a “hold” rating and issued a $970.00 target price on shares of Alphabet in a report on Friday, October 13th. Citigroup reaffirmed a “buy” rating and issued a $1,180.00 target price on shares of Alphabet in a report on Tuesday, October 24th. They noted that the move was a valuation call. Vetr cut Alphabet from a “buy” rating to a “hold” rating and set a $1,007.29 target price on the stock. in a report on Friday, October 6th. Finally, Credit Suisse Group reaffirmed an “outperform” rating on shares of Alphabet in a report on Wednesday, October 11th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, forty-one have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $1,098.90.

Shares of Alphabet (NASDAQ:GOOGL) traded down $0.06 during trading hours on Tuesday, hitting $1,130.60. The stock had a trading volume of 1,291,675 shares, compared to its average volume of 1,490,000. Alphabet has a 12-month low of $812.05 and a 12-month high of $1,148.88. The company has a market cap of $782,060.00, a price-to-earnings ratio of 37.66, a P/E/G ratio of 1.48 and a beta of 0.90. The company has a debt-to-equity ratio of 0.03, a current ratio of 5.77 and a quick ratio of 5.73.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Thursday, October 26th. The information services provider reported $9.57 earnings per share for the quarter, topping the consensus estimate of $8.43 by $1.14. The company had revenue of $22.27 billion for the quarter, compared to the consensus estimate of $21.94 billion. Alphabet had a return on equity of 14.26% and a net margin of 20.09%. During the same quarter in the prior year, the business posted $9.06 EPS. analysts forecast that Alphabet will post 32.34 earnings per share for the current fiscal year.

Large investors have recently bought and sold shares of the business. State of Alaska Department of Revenue acquired a new position in shares of Alphabet during the 2nd quarter worth about $102,000. Parkside Financial Bank & Trust raised its position 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 purchasing an additional 36 shares during the last quarter. Stelac Advisory Services LLC acquired a new position in shares of Alphabet during the 3rd quarter worth about $126,000. Odey Holdings AG raised its position 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 purchasing an additional 20 shares during the last quarter. Finally, Wealthcare Advisory Partners LLC acquired a new position in shares of Alphabet during the 3rd quarter worth about $137,000. 33.57% of the stock is currently owned by institutional investors.

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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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