Alphabet (NASDAQ:GOOGL) had its price objective increased by stock analysts at Argus to $1,300.00 in a research note issued to investors on Monday. Argus’ price objective suggests a potential upside of 22.37% from the company’s previous close.
A number of other equities research analysts have also commented on the stock. Cantor Fitzgerald restated a “buy” rating and set a $1,100.00 price objective on shares of Alphabet in a report on Tuesday, October 24th. Zacks Investment Research upgraded shares of Alphabet from a “hold” rating to a “buy” rating and set a $1,199.00 price objective on the stock in a report on Tuesday, December 26th. SunTrust Banks dropped their price objective on shares of Alphabet from $1,250.00 to $1,180.00 in a report on Monday, January 15th. Cowen raised their price objective on shares of Alphabet from $1,150.00 to $1,230.00 and gave the stock an “outperform” rating in a report on Thursday, January 4th. Finally, Vetr upgraded shares of Alphabet from a “hold” rating to a “buy” rating and set a $1,055.90 price objective on the stock in a report on Monday, December 4th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, thirty-nine have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $1,157.75.
Shares of Alphabet (NASDAQ GOOGL) traded down $56.81 during trading hours on Monday, hitting $1,062.39. 4,162,909 shares of the company were exchanged, compared to its average volume of 1,680,000. Alphabet has a fifty-two week low of $814.29 and a fifty-two week high of $1,198.00. The company has a current ratio of 5.14, a quick ratio of 5.11 and a debt-to-equity ratio of 0.03. The firm has a market capitalization of $735,730.00, a price-to-earnings ratio of 59.19, a price-to-earnings-growth ratio of 1.45 and a beta of 0.95.
Alphabet declared that its Board of Directors has approved a share repurchase plan on Thursday, February 1st that permits the company to repurchase $8.59 billion in shares. This repurchase authorization permits the information services provider to buy shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of Alphabet by 3.3% in the 2nd quarter. Vanguard Group Inc. now owns 20,570,476 shares of the information services provider’s stock valued at $19,123,960,000 after buying an additional 662,279 shares in the last quarter. BlackRock Inc. raised its position in shares of Alphabet by 3.1% in 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 buying an additional 567,337 shares in the last quarter. FMR LLC raised its position in shares of Alphabet by 2.1% in 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 buying an additional 367,634 shares in the last quarter. State Street Corp raised its position in shares of Alphabet by 1.2% in the 1st quarter. State Street Corp now owns 11,946,348 shares of the information services provider’s stock valued at $10,128,119,000 after buying an additional 142,214 shares in the last quarter. Finally, BlackRock Institutional Trust Company N.A. raised its position in shares of Alphabet by 0.6% in the 1st quarter. BlackRock Institutional Trust Company N.A. now owns 7,618,239 shares of the information services provider’s stock valued at $5,811,955,000 after buying an additional 44,888 shares in the last quarter. 33.61% of the stock is owned by institutional investors.
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.
