Alphabet Inc. (GOOGL) Receives “Outperform” Rating from FBR & Co
FBR & Co reiterated their outperform rating on shares of Alphabet Inc. (NASDAQ:GOOGL) in a research report released on Tuesday. FBR & Co 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.
GOOGL has been the subject of a number of other research reports. BMO Capital Markets restated an outperform rating and set a $1,005.00 target price on shares of Alphabet in a report on Monday, March 27th. Wedbush restated an underperform rating and set a $725.00 target price (up previously from $700.00) on shares of Alphabet in a report on Saturday, April 29th. J P Morgan Chase & Co upped their target price on Alphabet from $1,075.00 to $1,115.00 and gave the stock an overweight rating in a report on Saturday, July 22nd. Aegis restated a buy rating and set a $1,011.00 target price on shares of Alphabet in a report on Sunday, April 2nd. Finally, Canaccord Genuity lowered Alphabet from a buy rating to a hold rating and upped their target price for the stock from $967.93 to $1,000.00 in a report on Thursday, June 15th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, forty-three have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of Buy and an average price target of $1,042.37.
Alphabet (GOOGL) traded up 0.61% on Tuesday, reaching $958.33. The company had a trading volume of 1,813,794 shares. Alphabet has a 52 week low of $743.59 and a 52 week high of $1,008.61. The company has a market capitalization of $664.01 billion, a P/E ratio of 34.73 and a beta of 1.00. The stock’s 50-day moving average is $964.19 and its 200-day moving average is $901.58.
Alphabet (NASDAQ:GOOGL) last posted its earnings results on Monday, July 24th. The information services provider reported $5.01 earnings per share for the quarter, missing analysts’ consensus estimates of $8.25 by $3.24. The company had revenue of $20.92 billion for the quarter, compared to analysts’ expectations of $20.83 billion. Alphabet had a return on equity of 13.66% and a net margin of 19.49%. During the same quarter in the prior year, the company earned $8.42 EPS. Equities research analysts forecast that Alphabet will post $30.63 EPS for the current fiscal year.
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A number of hedge funds have recently added to or reduced their stakes in GOOGL. State of Alaska Department of Revenue acquired a new stake in Alphabet during the second quarter worth approximately $102,000. Franklin Parlapiano Turner & Welch LLC acquired a new stake in Alphabet during the first quarter worth approximately $108,000. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC increased its stake in Alphabet by 71,762.1% in the fourth quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC now owns 115,698 shares of the information services provider’s stock worth $116,000 after buying an additional 115,537 shares during the last quarter. Delta Asset Management LLC TN increased its stake in Alphabet by 1.5% in the first quarter. Delta Asset Management LLC TN now owns 136 shares of the information services provider’s stock worth $116,000 after buying an additional 2 shares during the last quarter. Finally, Parkside Financial Bank & Trust increased its stake in Alphabet by 39.6% in the second quarter. Parkside Financial Bank & Trust now owns 127 shares of the information services provider’s stock worth $118,000 after buying an additional 36 shares during the last quarter. Institutional investors own 34.36% of the company’s stock.
Alphabet Company Profile
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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