Mizuho reaffirmed their buy rating on shares of Alphabet Inc. (NASDAQ:GOOGL) in a research note issued to investors on Monday. Mizuho currently has a $1,220.00 price target on the information services provider’s stock.
GOOGL has been the subject of several other reports. Wedbush reiterated an underperform rating and issued a $725.00 price target (up from $700.00) on shares of Alphabet in a report on Saturday, April 29th. J P Morgan Chase & Co increased their price target on Alphabet from $1,075.00 to $1,115.00 and gave the company an overweight rating in a report on Saturday, July 22nd. Vetr upgraded Alphabet from a hold rating to a buy rating and set a $1,020.52 price target for the company in a report on Tuesday, July 25th. Canaccord Genuity downgraded Alphabet from a buy rating to a hold rating and increased their price target for the company from $967.93 to $1,000.00 in a report on Thursday, June 15th. Finally, FBR & Co reiterated an outperform rating and issued a $1,050.00 price target (up from $1,032.00) on shares of Alphabet in a report on Tuesday, July 25th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, forty-two have given a buy rating and one has assigned a strong buy rating to the company’s stock. Alphabet presently has an average rating of Buy and an average price target of $1,047.77.
Alphabet (GOOGL) traded up 0.36% during midday trading on Monday, reaching $949.17. The company’s stock had a trading volume of 1,042,223 shares. The stock has a market capitalization of $657.66 billion, a PE ratio of 34.40 and a beta of 0.99. Alphabet has a 52 week low of $743.59 and a 52 week high of $1,008.61. The firm’s 50-day moving average price is $963.05 and its 200-day moving average price is $904.34.
Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Monday, July 24th. The information services provider reported $5.01 EPS for the quarter, missing analysts’ consensus estimates of $8.25 by $3.24. The firm had revenue of $20.92 billion for the quarter, compared to analyst estimates of $20.83 billion. Alphabet had a return on equity of 13.66% and a net margin of 19.49%. During the same quarter in the previous year, the company earned $8.42 earnings per share. On average, analysts anticipate that Alphabet will post $30.60 earnings per share for the current year.
Several hedge funds have recently modified their holdings of the stock. GSA Capital Partners LLP raised its stake in shares of Alphabet by 29.5% in the fourth quarter. GSA Capital Partners LLP now owns 2,091 shares of the information services provider’s stock valued at $1,657,000 after buying an additional 476 shares during the period. Franklin Resources Inc. raised its stake in shares of Alphabet by 1.0% in the fourth quarter. Franklin Resources Inc. now owns 1,575,345 shares of the information services provider’s stock valued at $1,248,643,000 after buying an additional 16,006 shares during the period. Levin Capital Strategies L.P. raised its stake in shares of Alphabet by 0.3% in the fourth quarter. Levin Capital Strategies L.P. now owns 9,115 shares of the information services provider’s stock valued at $7,223,000 after buying an additional 25 shares during the period. Intellectus Partners LLC acquired a new stake in shares of Alphabet during the fourth quarter valued at $2,762,000. Finally, Moloney Securities Asset Management LLC acquired a new stake in shares of Alphabet during the fourth quarter valued at $2,351,000. Institutional investors and hedge funds own 34.31% of the company’s stock.
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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