Alphabet Inc. (GOOGL) Rating Reiterated by Jefferies Group LLC

Alphabet Inc. (NASDAQ:GOOGL)‘s stock had its “buy” rating restated by equities researchers at Jefferies Group LLC in a note issued to investors on Tuesday. They presently have a $1,200.00 price objective on the information services provider’s stock. Jefferies Group LLC’s price objective would indicate a potential upside of 19.33% from the stock’s current price. Jefferies Group also issued estimates for Alphabet’s Q3 2017 earnings at $8.40 EPS, Q4 2017 earnings at $9.97 EPS, FY2017 earnings at $31.12 EPS and FY2018 earnings at $42.02 EPS. The analysts noted that the move was a valuation call.

A number of other research analysts have also recently issued reports on the company. Vetr upgraded Alphabet from a “buy” rating to a “strong-buy” rating and set a $1,069.98 target price on the stock in a research report on Tuesday, June 27th. Societe Generale set a $1,210.00 target price on Alphabet and gave the company a “buy” rating in a research report on Friday, July 7th. They noted that the move was a valuation call. SunTrust Banks, Inc. reiterated a “buy” rating and issued a $1,100.00 target price on shares of Alphabet in a research report on Saturday, September 23rd. Wells Fargo & Company reiterated an “outperform” rating and issued a $1,150.00 target price on shares of Alphabet in a research report on Saturday, July 22nd. Finally, Zacks Investment Research cut Alphabet from a “hold” rating to a “sell” rating in a research report on Monday, July 17th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, thirty-nine have assigned a buy rating and one has issued a strong buy rating to the company. Alphabet has a consensus rating of “Buy” and an average price target of $1,058.31.

Shares of Alphabet (GOOGL) opened at 1005.65 on Tuesday. The company has a market cap of $696.79 billion, a price-to-earnings ratio of 36.45 and a beta of 0.96. Alphabet has a 12-month low of $743.59 and a 12-month high of $1,008.61. The stock has a 50 day moving average of $953.18 and a 200 day moving average of $940.96.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Monday, July 24th. The information services provider reported $5.01 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $8.25 by ($3.24). Alphabet had a net margin of 19.49% and a return on equity of 13.66%. The business had revenue of $20.92 billion during the quarter, compared to the consensus estimate of $20.83 billion. During the same quarter in the prior year, the firm earned $8.42 EPS. On average, equities analysts expect that Alphabet will post $30.59 earnings per share for the current fiscal year.

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Several large investors have recently added to or reduced their stakes in the business. McQueen Ball & Associates Inc. raised its holdings in shares of Alphabet by 18.2% in the 3rd quarter. McQueen Ball & Associates Inc. now owns 591 shares of the information services provider’s stock valued at $575,000 after acquiring an additional 91 shares in the last quarter. Neville Rodie & Shaw Inc. raised its holdings in shares of Alphabet by 1.4% in the 3rd quarter. Neville Rodie & Shaw Inc. now owns 14,407 shares of the information services provider’s stock valued at $14,028,000 after acquiring an additional 200 shares in the last quarter. Curbstone Financial Management Corp raised its holdings in shares of Alphabet by 100.0% in the 3rd quarter. Curbstone Financial Management Corp now owns 790 shares of the information services provider’s stock valued at $769,000 after acquiring an additional 395 shares in the last quarter. Bath Savings Trust Co raised its holdings in shares of Alphabet by 9.2% in the 3rd quarter. Bath Savings Trust Co now owns 7,529 shares of the information services provider’s stock valued at $7,332,000 after acquiring an additional 635 shares in the last quarter. Finally, Bridges Investment Management Inc. raised its holdings in shares of Alphabet by 1.4% in the 3rd quarter. Bridges Investment Management Inc. now owns 10,342 shares of the information services provider’s stock valued at $10,070,000 after acquiring an additional 139 shares in the last quarter. 33.85% of the stock is currently owned by hedge funds and other 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.

Analyst Recommendations for Alphabet (NASDAQ:GOOGL)

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