Alphabet’s (GOOGL) “Buy” Rating Reiterated at Canaccord Genuity
A number of other equities research analysts also recently weighed in on GOOGL. Jefferies Group restated a buy rating and issued a $1,000.00 target price on shares of Alphabet in a research report on Monday, October 3rd. RBC Capital Markets restated an outperform rating and issued a $1,025.00 target price (up from $1,000.00) on shares of Alphabet in a research report on Friday, September 30th. Royal Bank Of Canada upped their target price on Alphabet from $1,000.00 to $1,025.00 and gave the stock an outperform rating in a research report on Friday, September 30th. Morgan Stanley restated a buy rating and issued a $880.00 target price on shares of Alphabet in a research report on Thursday, September 29th. Finally, Wedbush downgraded Alphabet from a neutral rating to an underperform rating and upped their target price for the stock from $7.20 to $800.00 in a research report on Tuesday, September 27th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, forty-seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of Buy and an average price target of $926.27.
Shares of Alphabet (NASDAQ:GOOGL) opened at 800.71 on Tuesday. The firm has a market capitalization of $550.31 billion, a PE ratio of 31.02 and a beta of 1.00. The firm’s 50-day moving average price is $799.75 and its 200-day moving average price is $759.77. Alphabet has a 52-week low of $667.24 and a 52-week high of $819.06.
Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Thursday, July 28th. The company reported $8.42 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $8.04 by $0.38. Alphabet had a return on equity of 14.74% and a net margin of 22.00%. On average, equities analysts predict that Alphabet will post $34.11 earnings per share for the current fiscal year.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Advisory Services Network LLC raised its position in Alphabet by 1.8% in the third quarter. Advisory Services Network LLC now owns 2,230 shares of the company’s stock valued at $1,793,000 after buying an additional 40 shares during the period. Trust Co. of Oklahoma raised its stake in Alphabet by 0.8% in the third quarter. Trust Co. of Oklahoma now owns 2,603 shares of the company’s stock valued at $2,093,000 after buying an additional 21 shares during the last quarter. Catawba Capital Management VA purchased a new stake in Alphabet during the third quarter valued at $215,000. Pure Financial Advisors Inc. purchased a new stake in Alphabet during the third quarter valued at $231,000. Finally, Bremer Trust National Association raised its stake in Alphabet by 90.9% in the third quarter. Bremer Trust National Association now owns 3,167 shares of the company’s stock valued at $2,546,000 after buying an additional 1,508 shares during the last quarter. 34.12% of the stock is owned by hedge funds and other institutional investors.
Alphabet Company Profile
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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