Alphabet’s (NASDAQ:GOOGL) Market Perform Rating Reiterated at BMO Capital Markets
BMO Capital Markets reiterated their market perform rating on shares of Alphabet Inc. (NASDAQ:GOOGL) in a research report report published on Thursday morning. They currently have a $970.00 target price on the information services provider’s stock.
A number of other research analysts have also weighed in on GOOGL. Vetr upgraded Alphabet from a hold rating to a buy rating and set a $1,052.36 target price on the stock in a report on Monday, June 5th. Zacks Investment Research lowered Alphabet from a buy rating to a hold rating in a report on Monday, July 24th. Citigroup Inc. raised their target price on Alphabet from $1,135.00 to $1,180.00 and gave the company a buy rating in a report on Tuesday, July 25th. They noted that the move was a valuation call. UBS AG restated a buy rating and issued a $1,080.00 target price (up previously from $1,050.00) on shares of Alphabet in a report on Tuesday, July 25th. Finally, Barclays PLC restated an overweight rating and issued a $1,060.00 target price (down previously from $1,065.00) on shares of Alphabet in a report on Tuesday, July 25th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, forty-two have given a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of Buy and an average target price of $1,043.51.
Alphabet (GOOGL) traded down 1.40% during midday trading on Thursday, reaching $944.89. The company’s stock had a trading volume of 1,962,313 shares. Alphabet has a 52-week low of $743.59 and a 52-week high of $1,008.61. The firm has a market cap of $654.69 billion, a P/E ratio of 34.24 and a beta of 1.00. The firm has a 50 day moving average of $964.19 and a 200 day moving average of $901.58.
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. The firm had revenue of $20.92 billion during the quarter, compared to the consensus estimate 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 previous year, the company posted $8.42 EPS. Analysts anticipate that Alphabet will post $30.63 earnings per share for the current fiscal year.
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A number of large investors have recently modified their holdings of GOOGL. State Street Corp raised its stake in Alphabet by 1.2% in the first quarter. State Street Corp now owns 11,946,348 shares of the information services provider’s stock worth $10,128,119,000 after buying an additional 142,214 shares during the period. Norges Bank bought a new stake in Alphabet during the fourth quarter worth $2,411,505,000. Franklin Resources Inc. raised its stake in Alphabet by 1.0% in the fourth quarter. Franklin Resources Inc. now owns 1,575,345 shares of the information services provider’s stock worth $1,248,643,000 after buying an additional 16,006 shares during the period. Bank of Montreal Can raised its stake in Alphabet by 0.8% in the second quarter. Bank of Montreal Can now owns 1,094,698 shares of the information services provider’s stock worth $1,017,719,000 after buying an additional 8,375 shares during the period. Finally, Fisher Asset Management LLC raised its stake in Alphabet by 2.6% in the first quarter. Fisher Asset Management LLC now owns 1,071,363 shares of the information services provider’s stock worth $908,302,000 after buying an additional 27,598 shares during the period. 34.37% of the stock is 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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