Alphabet Inc (NASDAQ:GOOGL) Receives $1,324.41 Consensus PT from Analysts

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Shares of Alphabet Inc (NASDAQ:GOOGL) have been given a consensus recommendation of “Buy” by the thirty-six analysts that are presently covering the stock, Marketbeat Ratings reports. Eight analysts have rated the stock with a hold rating and twenty-eight have given a buy rating to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $1,322.01.

GOOGL has been the topic of several research reports. Needham & Company LLC initiated coverage on shares of Alphabet in a research report on Monday, March 4th. They set a “buy” rating and a $1,153.42 price target on the stock. Morgan Stanley reduced their price target on shares of Alphabet from $1,500.00 to $1,425.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 30th. They noted that the move was a valuation call. ValuEngine raised shares of Alphabet from a “hold” rating to a “buy” rating in a research report on Wednesday, March 20th. DZ Bank reissued a “hold” rating and set a $1,197.00 price target on shares of Alphabet in a research report on Wednesday, May 1st. Finally, Argus reissued a “buy” rating and set a $1,450.00 price target on shares of Alphabet in a research report on Wednesday, May 1st.

Several institutional investors and hedge funds have recently made changes to their positions in the company. FMR LLC lifted its holdings in Alphabet by 5.5% in the third quarter. FMR LLC now owns 16,434,628 shares of the information services provider’s stock valued at $19,837,909,000 after acquiring an additional 858,589 shares during the period. Bank of New York Mellon Corp lifted its holdings in Alphabet by 118,334.5% in the third quarter. Bank of New York Mellon Corp now owns 3,287,743 shares of the information services provider’s stock valued at $3,968,570,000 after acquiring an additional 3,284,967 shares during the period. Jennison Associates LLC lifted its holdings in Alphabet by 10.4% in the third quarter. Jennison Associates LLC now owns 1,922,845 shares of the information services provider’s stock valued at $2,321,028,000 after acquiring an additional 181,916 shares during the period. Rehmann Capital Advisory Group lifted its holdings in Alphabet by 118,282.1% in the third quarter. Rehmann Capital Advisory Group now owns 1,814,798 shares of the information services provider’s stock valued at $2,137,263,000 after acquiring an additional 1,813,265 shares during the period. Finally, TIAA CREF Investment Management LLC lifted its holdings in Alphabet by 6.0% in the third quarter. TIAA CREF Investment Management LLC now owns 1,671,001 shares of the information services provider’s stock valued at $2,017,032,000 after acquiring an additional 95,096 shares during the period. Institutional investors and hedge funds own 33.45% of the company’s stock.

NASDAQ GOOGL traded down $2.95 during trading hours on Friday, reaching $1,084.63. The company had a trading volume of 558,999 shares, compared to its average volume of 1,738,109. The firm has a 50-day moving average price of $1,120.25. Alphabet has a 1-year low of $977.66 and a 1-year high of $1,296.97. The company has a debt-to-equity ratio of 0.02, a current ratio of 3.96 and a quick ratio of 3.93. The company has a market capitalization of $775.26 billion, a PE ratio of 22.83, a P/E/G ratio of 1.32 and a beta of 1.04.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Monday, April 29th. The information services provider reported $11.90 EPS for the quarter, beating the Zacks’ consensus estimate of $10.56 by $1.34. Alphabet had a net margin of 19.71% and a return on equity of 20.06%. The company had revenue of $29.48 billion for the quarter, compared to analysts’ expectations of $29.99 billion. During the same quarter in the prior year, the company posted $13.33 earnings per share. As a group, research analysts forecast that Alphabet will post 48.44 EPS for the current fiscal year.

Alphabet Company Profile

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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Analyst Recommendations for Alphabet (NASDAQ:GOOGL)

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