Alphabet Inc. (GOOGL) Shares Gap Up to $791.40
Alphabet Inc. (NASDAQ:GOOGL) gapped up before the market opened on Friday . The stock had previously closed at $790.62, but opened at $791.40. Alphabet shares last traded at $794.56, with a volume of 644,604 shares traded.
A number of equities research analysts recently weighed in on GOOGL shares. Bank of America Corp. restated a “buy” rating and set a $925.00 price objective on shares of Alphabet in a research note on Monday, May 16th. Pivotal Research restated a “buy” rating and set a $1,000.00 price objective (up from $970.00) on shares of Alphabet in a research note on Monday, July 11th. Stifel Nicolaus upped their price objective on Alphabet from $888.00 to $925.00 and gave the stock a “buy” rating in a research note on Friday, July 29th. Vetr cut Alphabet from a “buy” rating to a “hold” rating and set a $782.77 price objective for the company. in a research note on Tuesday, July 19th. Finally, Morgan Stanley increased their price target on Alphabet from $850.00 to $865.00 and gave the company an “overweight” rating in a research note on Wednesday, June 8th. Two investment analysts have rated the stock with a hold rating, forty-seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Alphabet has a consensus rating of “Buy” and a consensus price target of $925.10.
The stock has a market capitalization of $547.67 billion and a price-to-earnings ratio of 30.88. The firm’s 50 day moving average is $787.23 and its 200-day moving average is $747.86.
Alphabet (NASDAQ:GOOGL) last announced its earnings results on Thursday, July 28th. The company reported $8.42 earnings per share for the quarter, beating the consensus estimate of $8.04 by $0.38. On average, analysts anticipate that Alphabet Inc. will post $34.25 earnings per share for the current fiscal year.
Several hedge funds have made changes to their positions in GOOGL. Hamilton Point Investment Advisors LLC increased its position in Alphabet by 1.9% in the fourth quarter. Hamilton Point Investment Advisors LLC now owns 1,389 shares of the company’s stock worth $1,081,000 after buying an additional 26 shares during the period. Genesee Valley Trust Co. increased its position in Alphabet by 1.7% in the fourth quarter. Genesee Valley Trust Co. now owns 2,600 shares of the company’s stock worth $2,023,000 after buying an additional 44 shares during the period. Baxter Bros Inc. increased its position in Alphabet by 153.4% in the fourth quarter. Baxter Bros Inc. now owns 5,281 shares of the company’s stock worth $4,109,000 after buying an additional 3,197 shares during the period. Bailard Inc. purchased a new position in Alphabet during the fourth quarter worth approximately $4,629,000. Finally, Mastrapasqua Asset Management Inc. increased its position in Alphabet by 489.3% in the fourth quarter. Mastrapasqua Asset Management Inc. now owns 6,058 shares of the company’s stock worth $4,692,000 after buying an additional 5,030 shares during the period.
Alphabet Inc is a holding company. The Company holds interests in Google Inc (Google). The Company’s segments include Google and Other Bets. Google segment includes Internet products, such as Search, Ads, Commerce, Maps, YouTube, Apps, Cloud, Android, Chrome, Google Play, and hardware products, including Chromecast, Chromebooks and Nexus, which are sold by the Company.
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