Alphabet Inc. (GOOGL) Earns Buy Rating from Needham & Company LLC
A number of other equities analysts have also recently commented on the stock. JPMorgan Chase & Co. reiterated an overweight rating and issued a $950.00 target price on shares of Alphabet in a research report on Friday, September 9th. Wedbush cut shares of Alphabet from a neutral rating to an underperform rating and lifted their target price for the stock from $7.20 to $800.00 in a research report on Tuesday, September 27th. Susquehanna reiterated a positive rating and issued a $930.00 target price on shares of Alphabet in a research report on Monday, July 18th. Jefferies Group reiterated a buy rating and issued a $925.00 target price on shares of Alphabet in a research report on Monday, July 18th. Finally, Vetr lowered shares of Alphabet from a strong-buy rating to a buy rating and set a $803.74 price target on the stock. in a report on Monday, July 11th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, forty-seven have issued a buy rating and one has assigned a strong buy rating to the stock. Alphabet has a consensus rating of Buy and a consensus price target of $926.27.
Shares of Alphabet (NASDAQ:GOOGL) opened at 809.57 on Friday. The firm has a market cap of $556.40 billion, a price-to-earnings ratio of 31.37 and a beta of 1.00. Alphabet has a 12-month low of $670.70 and a 12-month high of $819.86. The company has a 50 day moving average of $800.52 and a 200-day moving average of $760.57.
Alphabet (NASDAQ:GOOGL) last issued its earnings results on Thursday, July 28th. The company reported $8.42 EPS for the quarter, topping analysts’ consensus estimates of $8.04 by $0.38. Alphabet had a net margin of 22.00% and a return on equity of 14.74%. Analysts predict that Alphabet will post $34.11 EPS for the current year.
Large investors have recently bought and sold shares of the stock. Bank of Montreal Can acquired a new stake in Alphabet during the second quarter valued at approximately $761,801,000. Emerald Acquisition Ltd. acquired a new stake in Alphabet during the second quarter valued at approximately $400,022,000. Boston Partners raised its stake in Alphabet by 150.0% in the second quarter. Boston Partners now owns 810,490 shares of the company’s stock valued at $570,204,000 after buying an additional 486,266 shares in the last quarter. Vanguard Group Inc. raised its stake in Alphabet by 2.1% in the second quarter. Vanguard Group Inc. now owns 18,198,649 shares of the company’s stock valued at $12,803,295,000 after buying an additional 375,941 shares in the last quarter. Finally, Canada Pension Plan Investment Board raised its stake in Alphabet by 59.7% in the second quarter. Canada Pension Plan Investment Board now owns 874,328 shares of the company’s stock valued at $615,116,000 after buying an additional 326,759 shares in the last quarter. Institutional investors and hedge funds own 34.12% of the company’s stock.
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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