Alphabet (GOOGL) Hits New 52-Week High at $1,128.78

Alphabet Inc (NASDAQ:GOOGL) reached a new 52-week high during mid-day trading on Friday . The company traded as high as $1,128.78 and last traded at $1,129.11, with a volume of 983918 shares trading hands. The stock had previously closed at $1,112.05.

GOOGL has been the subject of a number of recent analyst reports. Zacks Investment Research upgraded Alphabet from a “hold” rating to a “buy” rating and set a $1,248.00 price objective for the company in a research note on Tuesday. SunTrust Banks restated a “buy” rating and set a $1,250.00 price objective on shares of Alphabet in a research note on Friday. Stifel Nicolaus restated a “buy” rating and set a $1,150.00 price objective (up previously from $1,075.00) on shares of Alphabet in a research note on Tuesday, October 24th. Cantor Fitzgerald restated a “buy” rating and set a $1,100.00 price objective on shares of Alphabet in a research note on Tuesday, October 24th. Finally, Vetr upgraded Alphabet from a “sell” rating to a “hold” rating and set a $1,027.27 price objective for the company in a research note on Monday, November 6th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, forty-one have given a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $1,100.06.

The company has a debt-to-equity ratio of 0.03, a quick ratio of 5.73 and a current ratio of 5.77. The company has a market cap of $781,180.00, a PE ratio of 37.62, a P/E/G ratio of 1.45 and a beta of 0.90.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Thursday, October 26th. The information services provider reported $9.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.43 by $1.14. Alphabet had a return on equity of 14.26% and a net margin of 20.09%. The company had revenue of $22.27 billion for the quarter, compared to analysts’ expectations of $21.94 billion. During the same period last year, the firm earned $9.06 EPS. equities research analysts forecast that Alphabet Inc will post 32.34 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Koch Industries Inc. boosted its position in Alphabet by 181,219.4% during 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 boosted its position in Alphabet by 65,026.4% during 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. boosted its position in Alphabet by 3.3% during 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. boosted its position in Alphabet by 3.1% during 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 boosted its position in Alphabet by 2.1% during 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. Institutional investors and hedge funds own 33.55% of the company’s stock.

ILLEGAL ACTIVITY NOTICE: “Alphabet (GOOGL) Hits New 52-Week High at $1,128.78” was first posted by Markets Daily and is the property of of Markets Daily. If you are accessing this piece on another publication, it was copied illegally and republished in violation of international copyright laws. The correct version of this piece can be viewed at https://www.themarketsdaily.com/2018/01/12/alphabet-googl-hits-new-52-week-high-at-1128-78.html.

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.

Receive News & Ratings for Alphabet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alphabet and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply