Alphabet (NASDAQ:GOOGL) had its target price upped by analysts at Barclays from $1,260.00 to $1,330.00 in a note issued to investors on Friday. The firm currently has an “overweight” rating on the information services provider’s stock. Barclays’ price objective points to a potential upside of 18.83% from the stock’s previous close.
Several other equities research analysts also recently weighed in on the company. Zacks Investment Research raised Alphabet from a “hold” rating to a “buy” rating and set a $1,330.00 target price for the company in a research report on Monday, January 29th. Deutsche Bank reaffirmed a “buy” rating and issued a $1,400.00 target price on shares of Alphabet in a research report on Monday, January 29th. Morgan Stanley reaffirmed an “overweight” rating and issued a $1,215.00 target price (up previously from $1,210.00) on shares of Alphabet in a research report on Friday, January 26th. Monness Crespi & Hardt reaffirmed a “buy” rating and issued a $1,250.00 target price (up previously from $1,120.00) on shares of Alphabet in a research report on Monday, January 29th. Finally, Vetr raised Alphabet from a “hold” rating to a “buy” rating and set a $1,243.88 target price for the company in a research report on Monday, January 29th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, thirty-nine have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $1,144.31.
Alphabet (NASDAQ:GOOGL) traded down $62.39 during mid-day trading on Friday, reaching $1,119.20. The company’s stock had a trading volume of 5,826,990 shares, compared to its average volume of 1,520,000. Alphabet has a 1 year low of $814.29 and a 1 year high of $1,198.00. The company has a debt-to-equity ratio of 0.03, a quick ratio of 5.73 and a current ratio of 5.77. The stock has a market capitalization of $734,150.00, a P/E ratio of 62.35, a PEG ratio of 1.54 and a beta of 0.95.
Alphabet declared that its Board of Directors has initiated a share repurchase program on Thursday, February 1st that allows the company to repurchase $8.59 billion in shares. This repurchase authorization allows the information services provider to repurchase shares of its stock through open market purchases. Shares repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.
A number of hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. grew its holdings 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 buying an additional 662,279 shares in the last quarter. BlackRock Inc. boosted its stake in Alphabet by 3.1% during the 2nd quarter. BlackRock Inc. now owns 18,633,934 shares of the information services provider’s stock valued at $17,323,595,000 after purchasing an additional 567,337 shares in the last quarter. FMR LLC boosted its stake in Alphabet by 2.1% during the 2nd quarter. FMR LLC now owns 17,647,327 shares of the information services provider’s stock valued at $16,406,366,000 after purchasing an additional 367,634 shares in the last quarter. Capital Research Global Investors boosted its stake in Alphabet by 2.4% during the 2nd 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 purchasing an additional 102,133 shares in the last quarter. Finally, Capital World Investors boosted its stake in Alphabet by 7.8% during the 2nd quarter. Capital World Investors now owns 3,879,982 shares of the information services provider’s stock valued at $3,607,142,000 after purchasing an additional 280,710 shares in the last quarter. 33.63% of the stock is owned by institutional investors and hedge funds.
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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.
