Morgan Stanley Increases Alphabet (NASDAQ:GOOGL) Price Target to $1,560.00

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Alphabet (NASDAQ:GOOGL) had its price target upped by Morgan Stanley from $1,450.00 to $1,560.00 in a research report issued on Tuesday, BenzingaRatingsTable reports. The brokerage presently has an “overweight” rating on the information services provider’s stock. Morgan Stanley’s target price suggests a potential upside of 5.29% from the stock’s previous close.

Several other research firms have also weighed in on GOOGL. Royal Bank of Canada upped their price objective on Alphabet from $1,425.00 to $1,500.00 and gave the company an “outperform” rating in a research note on Tuesday, September 24th. Robert W. Baird reiterated a “buy” rating and issued a $1,400.00 price objective on shares of Alphabet in a research note on Thursday, December 19th. Stifel Nicolaus upgraded Alphabet from a “hold” rating to a “buy” rating and upped their price objective for the company from $1,325.00 to $1,525.00 in a research note on Thursday, December 5th. KeyCorp upped their price objective on Alphabet from $1,516.00 to $1,546.00 and gave the company an “overweight” rating in a research note on Tuesday, October 29th. Finally, Credit Suisse Group reiterated an “outperform” rating and issued a $1,700.00 price objective (up from $1,500.00) on shares of Alphabet in a research note on Wednesday, October 23rd. They noted that the move was a valuation call. Six analysts have rated the stock with a hold rating and forty have issued a buy rating to the stock. Alphabet has a consensus rating of “Buy” and a consensus target price of $1,454.26.

GOOGL traded up $2.11 on Tuesday, hitting $1,481.63. 887,097 shares of the stock traded hands, compared to its average volume of 1,258,686. Alphabet has a 52 week low of $1,027.03 and a 52 week high of $1,480.55. The company has a current ratio of 3.78, a quick ratio of 3.75 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $1,023.64 billion, a PE ratio of 31.79, a P/E/G ratio of 1.62 and a beta of 1.01. The business has a fifty day moving average price of $1,373.30 and a two-hundred day moving average price of $1,257.87.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Monday, October 28th. The information services provider reported $10.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $12.42 by ($2.30). Alphabet had a net margin of 21.04% and a return on equity of 18.34%. The firm had revenue of $33.01 billion for the quarter, compared to the consensus estimate of $32.84 billion. During the same quarter in the prior year, the firm earned $13.06 earnings per share. On average, equities research analysts forecast that Alphabet will post 49.03 EPS for the current fiscal year.

Large investors have recently modified their holdings of the company. Legacy Advisors LLC grew its holdings in shares of Alphabet by 7.4% in the 4th quarter. Legacy Advisors LLC now owns 524 shares of the information services provider’s stock valued at $702,000 after acquiring an additional 36 shares in the last quarter. Wealthfront Advisers LLC grew its position in Alphabet by 5.6% during the fourth quarter. Wealthfront Advisers LLC now owns 13,818 shares of the information services provider’s stock worth $18,508,000 after buying an additional 735 shares in the last quarter. Zhang Financial LLC raised its stake in Alphabet by 5.8% in the fourth quarter. Zhang Financial LLC now owns 328 shares of the information services provider’s stock valued at $439,000 after purchasing an additional 18 shares in the last quarter. CX Institutional lifted its holdings in shares of Alphabet by 42.8% during the 4th quarter. CX Institutional now owns 597 shares of the information services provider’s stock worth $800,000 after acquiring an additional 179 shares during the period. Finally, Jones Financial Companies Lllp boosted its holdings in shares of Alphabet by 0.6% in the 4th quarter. Jones Financial Companies Lllp now owns 13,984 shares of the information services provider’s stock valued at $18,730,000 after purchasing an additional 80 shares in the last quarter. Institutional investors own 33.92% of the company’s stock.

About Alphabet

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.

Further Reading: How Do You Calculate Return on Equity (ROE)?

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