Alphabet (NASDAQ:GOOGL) had its target price boosted by equities research analysts at Oppenheimer from $1,180.00 to $1,340.00 in a research report issued to clients and investors on Friday. The brokerage currently has a “hold” rating on the information services provider’s stock. Oppenheimer’s target price would suggest a potential upside of 19.22% from the company’s previous close.
Other analysts have also recently issued reports about the company. Zacks Investment Research cut Alphabet from a “buy” rating to a “hold” rating in a research note on Wednesday, January 17th. Wells Fargo & Co reissued a “buy” rating and issued a $1,275.00 target price on shares of Alphabet in a report on Friday. Barclays increased their target price on Alphabet to $1,330.00 and gave the company an “overweight” rating in a report on Friday. Stifel Nicolaus lowered Alphabet from a “buy” rating to a “hold” rating and set a $1,150.00 target price on the stock. in a report on Friday. Finally, Citigroup increased their target price on Alphabet to $1,350.00 and gave the company a “buy” rating in a report on Friday. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, thirty-nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. Alphabet currently has an average rating of “Buy” and an average target price of $1,137.95.
Shares of Alphabet (NASDAQ GOOGL) traded down $57.59 during midday trading on Friday, hitting $1,124.00. The stock had a trading volume of 4,159,564 shares, compared to its average volume of 1,760,934. The firm has a market capitalization of $773,850.00, a PE ratio of 37.38, a P/E/G ratio of 1.54 and a beta of 0.95. 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 twelve month low of $814.29 and a twelve month high of $1,198.00.
Alphabet announced that its board has initiated a share buyback plan on Thursday, February 1st that authorizes the company to buyback $8.59 billion in shares. This buyback authorization authorizes the information services provider to repurchase shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its shares are undervalued.
Several hedge funds have recently bought and sold shares of GOOGL. Vanguard Group Inc. grew its stake in Alphabet by 3.3% in the 2nd quarter. Vanguard Group Inc. now owns 20,570,476 shares of the information services provider’s stock worth $19,123,960,000 after acquiring an additional 662,279 shares during the period. BlackRock Inc. grew its stake in Alphabet by 3.1% in the 2nd quarter. BlackRock Inc. now owns 18,633,934 shares of the information services provider’s stock worth $17,323,595,000 after acquiring an additional 567,337 shares during the period. FMR LLC grew its stake in Alphabet by 2.1% in the 2nd quarter. FMR LLC now owns 17,647,327 shares of the information services provider’s stock worth $16,406,366,000 after acquiring an additional 367,634 shares during the period. Capital Research Global Investors grew its stake in Alphabet by 2.4% in the 2nd quarter. Capital Research Global Investors now owns 4,308,195 shares of the information services provider’s stock worth $4,005,243,000 after acquiring an additional 102,133 shares during the period. Finally, Capital World Investors grew its stake in Alphabet by 7.8% in the 2nd quarter. Capital World Investors now owns 3,879,982 shares of the information services provider’s stock worth $3,607,142,000 after acquiring an additional 280,710 shares during the period. Institutional investors own 33.63% 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.
