Credit Suisse Group Reiterates Outperform Rating for Alphabet Inc. (GOOGL)

Alphabet Inc. (NASDAQ:GOOGL)‘s stock had its “outperform” rating reaffirmed by research analysts at Credit Suisse Group in a report released on Wednesday, Marketbeat reports.

Other equities research analysts have also issued research reports about the company. B. Riley reaffirmed a “buy” rating and issued a $1,050.00 price target on shares of Alphabet in a research report on Sunday, July 30th. MKM Partners reaffirmed a “buy” rating and issued a $1,210.00 price target (up previously from $1,170.00) on shares of Alphabet in a research report on Thursday, August 10th. Cowen and Company reaffirmed an “outperform” rating and issued a $1,075.00 price target on shares of Alphabet in a research report on Thursday, August 10th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $1,200.00 price target on shares of Alphabet in a research report on Tuesday, July 4th. Finally, Vetr raised Alphabet from a “buy” rating to a “strong-buy” rating and set a $1,053.55 price target on the stock in a research report on Monday, July 3rd. One research analyst has rated the stock with a sell rating, eight have given a hold rating, thirty-nine have given a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $1,058.98.

Shares of Alphabet (NASDAQ:GOOGL) opened at 1007.87 on Wednesday. Alphabet has a 12-month low of $743.59 and a 12-month high of $1,014.76. The company has a market capitalization of $698.33 billion, a P/E ratio of 36.53 and a beta of 0.96. The company has a 50 day moving average price of $957.01 and a 200 day moving average price of $942.63.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Monday, July 24th. The information services provider reported $5.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $8.25 by ($3.24). The company had revenue of $20.92 billion during the quarter, compared to analyst estimates of $20.83 billion. Alphabet had a net margin of 19.49% and a return on equity of 13.66%. During the same period in the prior year, the business earned $8.42 EPS. Equities analysts anticipate that Alphabet will post $30.62 EPS for the current year.

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A number of institutional investors have recently added to or reduced their stakes in GOOGL. Koch Industries Inc. increased its stake in Alphabet by 181,219.4% in the second quarter. Koch Industries Inc. now owns 1,086,103 shares of the information services provider’s stock valued at $1,085,000 after purchasing an additional 1,085,504 shares during the last quarter. Harbour Capital Advisors LLC increased its stake in Alphabet by 65,026.4% in the second quarter. Harbour Capital Advisors LLC now owns 743,744 shares of the information services provider’s stock valued at $800,000 after purchasing an additional 742,602 shares during the last quarter. Vanguard Group Inc. increased its stake in Alphabet by 3.3% in the second quarter. Vanguard Group Inc. now owns 20,570,476 shares of the information services provider’s stock valued at $19,123,960,000 after purchasing an additional 662,279 shares during the last quarter. BlackRock Inc. increased its stake in Alphabet by 3.1% in the second 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 during the last quarter. Finally, FMR LLC increased its stake in Alphabet by 2.1% in the second 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 during the last quarter. Hedge funds and other institutional investors own 33.85% of the company’s stock.

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.

Analyst Recommendations for Alphabet (NASDAQ:GOOGL)

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