Alphabet Inc (GOOGL) Lowered to “Hold” at Pivotal Research
Alphabet Inc (NASDAQ:GOOGL) was downgraded by analysts at Pivotal Research from a “buy” rating to a “hold” rating in a research note issued on Monday, The Fly reports.
GOOGL has been the subject of a number of other research reports. Robert W. Baird reissued an “outperform” rating and set a $960.00 price target on shares of Alphabet in a research report on Sunday, March 5th. Wedbush restated an “underperform” rating and set a $700.00 price objective on shares of Alphabet in a research note on Wednesday, February 15th. Morgan Stanley raised their price objective on Alphabet from $950.00 to $1,000.00 and gave the stock an “overweight” rating in a research note on Friday, January 27th. Zacks Investment Research upgraded Alphabet from a “hold” rating to a “buy” rating and set a $923.00 price objective on the stock in a research note on Monday, January 23rd. Finally, Royal Bank of Canada restated an “outperform” rating and set a $1,025.00 price objective on shares of Alphabet in a research note on Tuesday, January 24th. One analyst has rated the stock with a sell rating, six have issued a hold rating, thirty-nine have given 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 target price of $963.99.
Alphabet (NASDAQ:GOOGL) opened at 872.37 on Monday. The stock’s 50 day moving average is $844.45 and its 200-day moving average is $814.97. The firm has a market capitalization of $603.17 billion, a PE ratio of 31.29 and a beta of 0.98. Alphabet has a 1-year low of $672.66 and a 1-year high of $874.42.
Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Thursday, January 26th. The company reported $9.36 earnings per share for the quarter, missing analysts’ consensus estimates of $9.64 by $0.28. Alphabet had a return on equity of 14.85% and a net margin of 21.58%. During the same quarter last year, the company posted $8.67 EPS. Equities research analysts forecast that Alphabet will post $33.41 EPS for the current year.
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A number of institutional investors have recently modified their holdings of the company. Cedar Wealth Management LLC boosted its position in shares of Alphabet by 5.8% in the third quarter. Cedar Wealth Management LLC now owns 128 shares of the company’s stock worth $103,000 after buying an additional 7 shares in the last quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC boosted its position in shares of Alphabet by 71,762.1% in the fourth quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC now owns 115,698 shares of the company’s stock worth $116,000 after buying an additional 115,537 shares in the last quarter. First Command Bank bought a new position in shares of Alphabet during the fourth quarter worth $123,000. Farmers & Merchants Trust Co of Chambersburg PA bought a new position in shares of Alphabet during the fourth quarter worth $127,000. Finally, Tarbox Group Inc. boosted its position in shares of Alphabet by 1.9% in the third quarter. Tarbox Group Inc. now owns 163 shares of the company’s stock worth $131,000 after buying an additional 3 shares in the last quarter. 34.98% of the stock is currently owned by hedge funds and other institutional investors.
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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