Alphabet (NASDAQ:GOOGL) Upgraded at BidaskClub

BidaskClub upgraded shares of Alphabet (NASDAQ:GOOGL) from a hold rating to a buy rating in a research report report published on Saturday morning, BidAskClub reports.

GOOGL has been the topic of a number of other reports. DZ Bank reiterated a hold rating and set a $1,197.00 price objective on shares of Alphabet in a research note on Wednesday, May 1st. Deutsche Bank increased their price objective on shares of Alphabet from $1,300.00 to $1,400.00 and gave the company a buy rating in a research note on Wednesday, May 15th. Nomura increased their target price on shares of Spotify from $188.00 to $190.00 and gave the stock a buy rating in a report on Tuesday, April 30th. Zacks Investment Research raised shares of Flagstar Bancorp from a hold rating to a buy rating and set a $38.00 target price on the stock in a report on Monday, July 8th. Finally, Stifel Nicolaus increased their target price on shares of Western Digital from $48.00 to $55.00 and gave the stock a buy rating in a report on Tuesday, April 30th. Eight equities research analysts have rated the stock with a hold rating and twenty-nine have given a buy rating to the stock. The company currently has an average rating of Buy and a consensus price target of $1,320.35.

Shares of GOOGL stock opened at $1,150.51 on Friday. The stock has a market capitalization of $798.73 billion, a P/E ratio of 24.22, a PEG ratio of 1.35 and a beta of 0.96. The company has a fifty day moving average price of $1,103.61. The company has a quick ratio of 3.93, a current ratio of 3.96 and a debt-to-equity ratio of 0.02. Alphabet has a twelve month low of $977.66 and a twelve month high of $1,296.97.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data on Monday, April 29th. The information services provider reported $11.90 EPS for the quarter, beating the Zacks’ consensus estimate of $10.56 by $1.34. Alphabet had a net margin of 19.71% and a return on equity of 20.06%. The firm had revenue of $29.48 billion for the quarter, compared to the consensus estimate of $29.99 billion. During the same period in the prior year, the firm posted $13.33 EPS. As a group, research analysts forecast that Alphabet will post 48.44 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently made changes to their positions in the business. Rehmann Capital Advisory Group boosted its holdings in shares of Alphabet by 118,282.1% during the third quarter. Rehmann Capital Advisory Group now owns 1,814,798 shares of the information services provider’s stock worth $2,137,263,000 after purchasing an additional 1,813,265 shares during the period. Packer & Co Ltd acquired a new stake in shares of Alphabet during the fourth quarter worth approximately $21,605,000. Royal London Asset Management Ltd. acquired a new stake in shares of Alphabet during the fourth quarter worth approximately $237,900,000. Marshall Wace North America L.P. boosted its holdings in shares of Alphabet by 379.8% during the third quarter. Marshall Wace North America L.P. now owns 223,435 shares of the information services provider’s stock worth $269,704,000 after purchasing an additional 176,870 shares during the period. Finally, AMF Pensionsforsakring AB boosted its holdings in shares of Alphabet by 172.7% during the fourth quarter. AMF Pensionsforsakring AB now owns 209,505 shares of the information services provider’s stock worth $218,924,000 after purchasing an additional 132,686 shares during the period. Institutional investors own 33.60% of the company’s stock.

About Alphabet

Alphabet Inc, through its subsidiaries, provides online advertising services in the United States and internationally. The company offers performance and brand advertising services. It operates through Google and Other Bets segments. The Google segment includes principal Internet products, such as Ads, Android, Chrome, Commerce, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure and newer efforts, including Virtual Reality.

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