Alphabet’s (NASDAQ:GOOGL) Buy Rating Reiterated at Goldman Sachs Group, Inc. (The)
Goldman Sachs Group, Inc. (The) reissued their buy rating on shares of Alphabet Inc. (NASDAQ:GOOGL) in a research note issued to investors on Tuesday. They currently have a $1,100.00 price target on the information services provider’s stock.
Several other research firms have also commented on GOOGL. Vetr raised shares of Alphabet from a hold rating to a buy rating and set a $1,052.36 price target on the stock in a report on Monday, June 5th. Zacks Investment Research lowered shares of Alphabet from a buy rating to a hold rating in a report on Monday, July 24th. Citigroup Inc. upped their price target on shares of Alphabet from $1,135.00 to $1,180.00 and gave the company a buy rating in a report on Tuesday. They noted that the move was a valuation call. Barclays PLC reaffirmed an overweight rating and issued a $1,060.00 price target (down from $1,065.00) on shares of Alphabet in a report on Tuesday. Finally, Robert W. Baird reaffirmed an outperform rating and issued a $1,100.00 price target on shares of Alphabet in a report on Tuesday. One investment 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 assigned a strong buy rating to the company. Alphabet presently has a consensus rating of Buy and a consensus target price of $1,042.37.
Alphabet (NASDAQ GOOGL) traded up 0.61% during trading 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 firm has a market capitalization of $664.01 billion, a P/E ratio of 34.73 and a beta of 1.00. The stock has a 50 day moving average price of $964.19 and a 200 day moving average price of $901.58.
Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Monday, July 24th. The information services provider reported $5.01 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 in the previous year, the company posted $8.42 earnings per share. Analysts predict that Alphabet will post $30.63 earnings per share for the current year.
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A number of large investors have recently made changes to their positions in the company. State of Alaska Department of Revenue bought a new stake in shares of Alphabet during the second quarter valued at approximately $102,000. Franklin Parlapiano Turner & Welch LLC bought a new stake in shares of Alphabet during the first quarter valued at approximately $108,000. Parkside Financial Bank & Trust raised its stake in shares of Alphabet by 39.6% in the second quarter. Parkside Financial Bank & Trust now owns 127 shares of the information services provider’s stock valued at $118,000 after buying an additional 36 shares in the last quarter. Delta Asset Management LLC TN raised its stake in shares of Alphabet by 1.5% in the first quarter. Delta Asset Management LLC TN now owns 136 shares of the information services provider’s stock valued at $116,000 after buying an additional 2 shares in the last quarter. Finally, Farmers National Bank raised its stake in shares of Alphabet by 2.7% in the first quarter. Farmers National Bank now owns 150 shares of the information services provider’s stock valued at $127,000 after buying an additional 4 shares in the last quarter. Hedge funds and other 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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