Alphabet’s (GOOGL) “Overweight” Rating Reiterated at KeyCorp

Alphabet (NASDAQ:GOOGL)‘s stock had its “overweight” rating restated by equities research analysts at KeyCorp in a research note issued on Friday. They currently have a $1,280.00 price target on the information services provider’s stock, up from their previous price target of $1,150.00. KeyCorp’s price target indicates a potential upside of 12.68% from the company’s previous close.

A number of other brokerages have also weighed in on GOOGL. Stifel Nicolaus reaffirmed a “buy” rating and issued a $1,075.00 price target on shares of Alphabet in a research note on Monday, September 25th. Jefferies Group reissued a “buy” rating and issued a $1,200.00 price objective on shares of Alphabet in a research report on Tuesday, October 10th. They noted that the move was a valuation call. Mizuho reissued a “buy” rating on shares of Alphabet in a research report on Tuesday, October 17th. Vetr lowered shares of Alphabet from a “buy” rating to a “hold” rating and set a $1,007.29 price objective on the stock. in a research report on Friday, October 6th. Finally, Evercore ISI assumed coverage on shares of Alphabet in a research report on Tuesday, December 5th. They issued an “outperform” rating on the stock. One research analyst has rated the stock with a sell rating, six have issued a hold rating, forty have issued a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $1,101.79.

Shares of Alphabet (NASDAQ:GOOGL) traded down $3.13 during midday trading on Friday, reaching $1,135.97. 1,374,800 shares of the company were exchanged, compared to its average volume of 1,434,842. The firm has a market capitalization of $788,470.00, a PE ratio of 37.84, a P/E/G ratio of 1.49 and a beta of 0.90. The company has a debt-to-equity ratio of 0.03, a quick ratio of 5.73 and a current ratio of 5.77. Alphabet has a 52-week low of $812.05 and a 52-week high of $1,148.88.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Thursday, October 26th. The information services provider reported $9.57 earnings per share for the quarter, beating the Zacks’ consensus estimate of $8.43 by $1.14. Alphabet had a net margin of 20.09% and a return on equity of 14.26%. The firm had revenue of $22.27 billion for the quarter, compared to analyst estimates of $21.94 billion. During the same quarter in the previous year, the firm posted $9.06 earnings per share. analysts forecast that Alphabet will post 32.36 EPS for the current year.

Large investors have recently added to or reduced their stakes in the business. Koch Industries Inc. grew its stake in shares of Alphabet by 181,219.4% in the second quarter. Koch Industries Inc. now owns 1,086,103 shares of the information services provider’s stock valued at $1,085,000 after acquiring an additional 1,085,504 shares in the last quarter. Harbour Capital Advisors LLC lifted its position in Alphabet by 65,026.4% during the second quarter. Harbour Capital Advisors LLC now owns 743,744 shares of the information services provider’s stock worth $800,000 after purchasing an additional 742,602 shares during the period. Vanguard Group Inc. lifted its position in Alphabet by 3.3% during the second quarter. Vanguard Group Inc. now owns 20,570,476 shares of the information services provider’s stock worth $19,123,960,000 after purchasing an additional 662,279 shares during the period. BlackRock Inc. lifted its position in Alphabet by 3.1% during the second quarter. BlackRock Inc. now owns 18,633,934 shares of the information services provider’s stock worth $17,323,595,000 after purchasing an additional 567,337 shares during the period. Finally, FMR LLC lifted its position in Alphabet by 2.1% during the second quarter. FMR LLC now owns 17,647,327 shares of the information services provider’s stock worth $16,406,366,000 after purchasing an additional 367,634 shares during the period. Hedge funds and other institutional investors own 33.57% 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.

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