SunTrust Banks Trims Alphabet (GOOGL) Target Price to $1,180.00
Alphabet (NASDAQ:GOOGL) had its target price decreased by SunTrust Banks from $1,250.00 to $1,180.00 in a report issued on Monday morning. SunTrust Banks also issued estimates for Alphabet’s FY2022 earnings at $86.37 EPS.
GOOGL has been the subject of a number of other reports. Stifel Nicolaus raised their price target on Alphabet from $1,075.00 to $1,150.00 and gave the stock a buy rating in a report on Monday, October 30th. Cowen lifted their price objective on Alphabet from $1,150.00 to $1,230.00 and gave the company an outperform rating in a research note on Thursday, January 4th. Bank of America reissued a buy rating and set a $1,100.00 price objective on shares of Alphabet in a research note on Tuesday, September 26th. Piper Jaffray Companies reissued a buy rating and set a $1,150.00 price objective on shares of Alphabet in a research note on Thursday, October 19th. Finally, Citigroup reissued a buy rating on shares of Alphabet in a research note on Monday, October 30th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, forty-one have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of Buy and a consensus price target of $1,098.90.
Alphabet (NASDAQ GOOGL) traded up $0.05 during trading on Monday, hitting $1,130.70. The stock had a trading volume of 1,800,000 shares, compared to its average volume of 1,490,000. Alphabet has a 52-week low of $812.05 and a 52-week high of $1,148.88. The company has a quick ratio of 5.73, a current ratio of 5.77 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $782,680.00, a price-to-earnings ratio of 37.66, a P/E/G ratio of 1.48 and a beta of 0.90.
Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Thursday, October 26th. The information services provider reported $9.57 EPS for the quarter, topping the Zacks’ 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 firm had revenue of $22.27 billion during the quarter, compared to analyst estimates of $21.94 billion. During the same period last year, the company earned $9.06 earnings per share. research analysts forecast that Alphabet will post 32.34 earnings per share for the current year.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in Alphabet by 3.3% during the 2nd 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 period. BlackRock Inc. increased its holdings in Alphabet by 3.1% during the 2nd 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 period. FMR LLC increased its holdings in Alphabet by 2.1% during the 2nd 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 period. Capital Research Global Investors increased its holdings in Alphabet by 2.4% during the 2nd quarter. Capital Research Global Investors now owns 4,308,195 shares of the information services provider’s stock valued at $4,005,243,000 after purchasing an additional 102,133 shares during the period. Finally, Capital World Investors increased its holdings in Alphabet by 7.8% during the 2nd quarter. Capital World Investors now owns 3,879,982 shares of the information services provider’s stock valued at $3,607,142,000 after purchasing an additional 280,710 shares during the period. Hedge funds and other institutional investors own 33.57% of the company’s stock.
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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.
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