Alphabet Inc Class A (GOOGL) Price Target Cut to $1,010.00 by Analysts at Pivotal Research
Alphabet Inc Class A (NASDAQ:GOOGL) had its target price cut by Pivotal Research from $1,080.00 to $1,010.00 in a research report sent to investors on Friday. They currently have a hold rating on the information services provider’s stock.
Several other research firms also recently weighed in on GOOGL. Wells Fargo & Co reiterated an outperform rating and set a $1,400.00 price target (up previously from $1,275.00) on shares of Alphabet Inc Class A in a research note on Tuesday, July 24th. B. Riley boosted their price objective on Alphabet Inc Class A from $1,350.00 to $1,475.00 and gave the company a buy rating in a report on Tuesday, July 24th. Barclays boosted their price objective on Alphabet Inc Class A from $1,250.00 to $1,350.00 and gave the company an overweight rating in a report on Friday, July 13th. Zacks Investment Research raised Alphabet Inc Class A from a sell rating to a hold rating in a report on Tuesday, July 24th. Finally, Credit Suisse Group reissued an outperform rating and issued a $1,375.00 price objective (up previously from $1,330.00) on shares of Alphabet Inc Class A in a report on Tuesday, July 24th. One analyst has rated the stock with a sell rating, four have issued a hold rating and thirty-one have assigned a buy rating to the stock. The stock presently has an average rating of Buy and an average target price of $1,315.01.
Alphabet Inc Class A stock traded up $29.80 during trading hours on Friday, hitting $1,120.54. 2,465,102 shares of the stock traded hands, compared to its average volume of 2,002,711. The company has a debt-to-equity ratio of 0.02, a quick ratio of 4.13 and a current ratio of 4.15. The company has a market cap of $840.06 billion, a PE ratio of 34.96, a PEG ratio of 1.53 and a beta of 1.11. Alphabet Inc Class A has a 1 year low of $977.08 and a 1 year high of $1,291.44.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Well Done LLC purchased a new stake in Alphabet Inc Class A during the 1st quarter worth approximately $107,000. Westchester Capital Management Inc. increased its stake in Alphabet Inc Class A by 1,262.5% during the 1st quarter. Westchester Capital Management Inc. now owns 109 shares of the information services provider’s stock worth $113,000 after buying an additional 101 shares in the last quarter. KHP Capital LLC purchased a new stake in Alphabet Inc Class A during the 1st quarter worth approximately $124,000. Private Ocean LLC increased its stake in Alphabet Inc Class A by 355.6% during the 1st quarter. Private Ocean LLC now owns 123 shares of the information services provider’s stock worth $127,000 after buying an additional 96 shares in the last quarter. Finally, ELM Advisors LLC purchased a new stake in Alphabet Inc Class A during the 3rd quarter worth approximately $128,000. 33.53% of the stock is owned by institutional investors.
About Alphabet Inc Class A
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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