Alphabet (GOOGL) Now Covered by Guggenheim
Equities research analysts at Guggenheim initiated coverage on shares of Alphabet (NASDAQ:GOOGL) in a note issued to investors on Thursday, Marketbeat.com reports. The brokerage set a “buy” rating and a $1,330.00 price target on the information services provider’s stock. Guggenheim’s price objective indicates a potential upside of 24.45% from the stock’s current price.
A number of other research firms have also recently weighed in on GOOGL. Wedbush initiated coverage on Alphabet in a report on Wednesday, October 17th. They set an “outperform” rating and a $1,350.00 price target for the company. Morgan Stanley reaffirmed an “overweight” rating and set a $1,515.00 price target (up from $1,325.00) on shares of Alphabet in a report on Wednesday, August 29th. Nomura reaffirmed a “buy” rating and set a $1,400.00 price target on shares of Alphabet in a report on Tuesday. Pivotal Research dropped their price target on Alphabet from $1,080.00 to $1,010.00 and set a “hold” rating for the company in a report on Friday, October 12th. Finally, MKM Partners dropped their price target on Alphabet from $1,465.00 to $1,365.00 and set a “buy” rating for the company in a report on Monday, November 26th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and thirty have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $1,322.05.
Shares of GOOGL traded up $6.19 during mid-day trading on Thursday, reaching $1,068.66. The company had a trading volume of 76,035 shares, compared to its average volume of 1,829,524. Alphabet has a twelve month low of $984.00 and a twelve month high of $1,291.44. The company has a current ratio of 4.14, a quick ratio of 4.10 and a debt-to-equity ratio of 0.02. The stock has a market cap of $739.35 billion, a PE ratio of 33.37, a PEG ratio of 1.31 and a beta of 1.06.
Several large investors have recently bought and sold shares of the company. New England Research & Management Inc. raised its stake in shares of Alphabet by 87.3% in the 2nd quarter. New England Research & Management Inc. now owns 751 shares of the information services provider’s stock valued at $848,000 after purchasing an additional 350 shares during the period. Pegasus Partners Ltd. raised its stake in shares of Alphabet by 18.5% in the 2nd quarter. Pegasus Partners Ltd. now owns 468 shares of the information services provider’s stock valued at $528,000 after purchasing an additional 73 shares during the period. Swarthmore Group Inc. raised its stake in shares of Alphabet by 6.3% in the 2nd quarter. Swarthmore Group Inc. now owns 8,050 shares of the information services provider’s stock valued at $9,090,000 after purchasing an additional 475 shares during the period. Windward Capital Management Co. CA raised its stake in shares of Alphabet by 0.4% in the 2nd quarter. Windward Capital Management Co. CA now owns 19,540 shares of the information services provider’s stock valued at $22,065,000 after purchasing an additional 71 shares during the period. Finally, Hilltop Holdings Inc. raised its stake in shares of Alphabet by 117.5% in the 1st quarter. Hilltop Holdings Inc. now owns 1,855 shares of the information services provider’s stock valued at $1,924,000 after purchasing an additional 1,002 shares during the period. Institutional investors and hedge funds own 30.54% of the company’s stock.
Alphabet Inc, through its subsidiaries, provides online advertising services in the United States and internationally. The company offers performance and brand advertising services. It operates through Google and Other Bets segments. The Google segment includes principal Internet products, such as Ads, Android, Chrome, Commerce, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure and newer efforts, including Virtual Reality.
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