Aegis Reaffirms “Buy” Rating for Alphabet Inc. (GOOGL)

Aegis restated their buy rating on shares of Alphabet Inc. (NASDAQ:GOOGL) in a research report sent to investors on Monday, May 22nd.

A number of other equities analysts have also weighed in on the company. Pacific Crest reiterated an overweight rating and set a $1,040.00 target price on shares of Alphabet in a research note on Sunday, April 23rd. Susquehanna Bancshares Inc reiterated a positive rating and set a $1,000.00 target price on shares of Alphabet in a research note on Sunday, March 19th. BMO Capital Markets reiterated an outperform rating and set a $1,005.00 target price on shares of Alphabet in a research note on Monday, March 27th. Barclays PLC started coverage on Alphabet in a research report on Tuesday, March 28th. They set an overweight rating and a $1,065.00 price target on the stock. Finally, Bank of America Corporation reissued a buy rating and set a $1,025.00 price target on shares of Alphabet in a research report on Thursday, March 23rd. One investment analyst has rated the stock with a sell rating, six have given a hold rating and forty have given a buy rating to the company. The company currently has a consensus rating of Buy and an average price target of $1,011.53.

Alphabet (NASDAQ GOOGL) traded down 0.16% during mid-day trading on Monday, reaching $958.62. 2,559,207 shares of the company were exchanged. The company has a market cap of $663.12 billion, a P/E ratio of 32.39 and a beta of 0.96. The stock’s 50-day moving average is $967.45 and its 200-day moving average is $868.27. Alphabet has a 12 month low of $672.66 and a 12 month high of $1,008.61.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Thursday, April 27th. The information services provider reported $7.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.24 by $0.49. The firm had revenue of $20.12 billion for the quarter, compared to analyst estimates of $19.65 billion. Alphabet had a return on equity of 15.16% and a net margin of 21.84%. During the same quarter in the prior year, the company earned $7.50 earnings per share. Equities analysts expect that Alphabet will post $33.98 earnings per share for the current year.

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Several large investors have recently bought and sold shares of the company. Blankinship & Foster LLC boosted its stake in Alphabet by 2.9% in the first quarter. Blankinship & Foster LLC now owns 535 shares of the information services provider’s stock worth $454,000 after buying an additional 15 shares during the period. Clearbridge Investments LLC boosted its stake in Alphabet by 7.7% in the first quarter. Clearbridge Investments LLC now owns 581,966 shares of the information services provider’s stock worth $493,391,000 after buying an additional 41,394 shares during the period. TrueNorth Inc. acquired a new stake in shares of Alphabet during the first quarter worth about $1,022,000. Laurel Wealth Advisors Inc. boosted its stake in shares of Alphabet by 19.0% in the first quarter. Laurel Wealth Advisors Inc. now owns 1,266 shares of the information services provider’s stock worth $1,073,000 after buying an additional 202 shares during the last quarter. Finally, Perigon Wealth Management LLC boosted its stake in shares of Alphabet by 3.3% in the first quarter. Perigon Wealth Management LLC now owns 3,954 shares of the information services provider’s stock worth $3,352,000 after buying an additional 126 shares during the last quarter. 34.72% of the stock is currently owned by institutional investors.

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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