B. Riley reiterated their buy rating on shares of Alphabet Inc. (NASDAQ:GOOGL) in a report released on Tuesday. The firm currently has a $1,050.00 price target on the information services provider’s stock, up from their previous price target of $1,032.00.

Other analysts also recently issued research reports about the stock. UBS AG reaffirmed a buy rating and issued a $980.00 price target on shares of Alphabet in a report on Monday, March 27th. Zacks Investment Research downgraded shares of Alphabet from a buy rating to a hold rating in a report on Monday, April 17th. Goldman Sachs Group, Inc. (The) reduced their price target on shares of Alphabet from $1,100.00 to $970.00 and set a buy rating on the stock in a report on Friday, April 28th. Vetr raised shares of Alphabet from a buy rating to a strong-buy rating and set a $1,053.55 price target on the stock in a report on Monday, July 3rd. Finally, Jefferies Group LLC reaffirmed a buy rating and issued a $1,200.00 price target on shares of Alphabet in a report on Tuesday, July 4th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, forty-three have given a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of Buy and an average price target of $1,042.37.

Alphabet (GOOGL) traded up 0.61% during mid-day trading on Tuesday, reaching $958.33. 1,813,794 shares of the company’s stock were exchanged. The stock has a market capitalization of $664.01 billion, a PE ratio of 34.73 and a beta of 1.00. The firm’s 50-day moving average is $964.19 and its 200 day moving average is $901.58. Alphabet has a 1-year low of $743.59 and a 1-year high of $1,008.61.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Monday, July 24th. The information services provider reported $5.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $8.25 by $3.24. Alphabet had a net margin of 19.49% and a return on equity of 13.66%. The business had revenue of $20.92 billion during the quarter, compared to analysts’ expectations of $20.83 billion. During the same period last year, the company earned $8.42 EPS. Analysts forecast that Alphabet will post $30.63 earnings per share for the current fiscal year.

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Several hedge funds and other institutional investors have recently bought and sold shares of the company. Norges Bank acquired a new position in Alphabet during the fourth quarter worth about $2,411,505,000. Glenview Capital Management LLC acquired a new position in Alphabet during the fourth quarter worth about $605,119,000. Harbour Capital Advisors LLC increased its position in Alphabet by 65,026.4% in the second quarter. Harbour Capital Advisors LLC now owns 743,744 shares of the information services provider’s stock worth $800,000 after buying an additional 742,602 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new position in Alphabet during the fourth quarter worth about $341,958,000. Finally, Dodge & Cox acquired a new position in Alphabet during the fourth quarter worth about $260,940,000. Institutional investors own 34.36% of the company’s stock.

About Alphabet

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.

Analyst Recommendations for Alphabet (NASDAQ:GOOGL)

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