Alphabet Inc. (GOOGL) Price Target Raised to $1,025.00 at Royal Bank Of Canada
Alphabet Inc. (NASDAQ:GOOGL) had its price target upped by Royal Bank Of Canada from $1,000.00 to $1,025.00 in a research note released on Friday morning. The brokerage currently has an outperform rating on the stock.
Several other analysts have also issued reports on GOOGL. Cantor Fitzgerald restated a buy rating on shares of Alphabet in a research note on Saturday, June 4th. Mizuho restated a buy rating and issued a $1,020.00 price objective (up previously from $1,010.00) on shares of Alphabet in a research note on Sunday, July 31st. Bank of America Corp. restated a buy rating and issued a $960.00 price objective on shares of Alphabet in a research note on Monday, September 26th. Robert W. Baird restated a buy rating on shares of Alphabet in a research note on Thursday, June 2nd. Finally, Macquarie restated an outperform rating on shares of Alphabet in a research note on Tuesday, July 19th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, forty-seven have issued a buy rating and one has assigned a strong buy rating to the company. Alphabet has an average rating of Buy and an average target price of $924.78.
Alphabet (NASDAQ:GOOGL) traded down 0.74% on Friday, hitting $798.13. The stock had a trading volume of 498,270 shares. The firm has a market cap of $548.53 billion, a P/E ratio of 30.92 and a beta of 1.00. The firm’s 50-day moving average price is $800.15 and its 200-day moving average price is $758.17. Alphabet has a 1-year low of $654.49 and a 1-year high of $819.06.
Alphabet (NASDAQ:GOOGL) last released its earnings results on Thursday, July 28th. The company reported $8.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.04 by $0.38. Alphabet had a return on equity of 14.74% and a net margin of 22.00%. On average, equities research analysts predict that Alphabet will post $34.26 earnings per share for the current year.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Bank of Montreal Can purchased a new position in Alphabet during the second quarter valued at approximately $761,801,000. Emerald Acquisition Ltd. bought a new stake in Alphabet during the second quarter valued at $400,022,000. Boston Partners increased its stake in Alphabet by 150.0% in the second quarter. Boston Partners now owns 810,490 shares of the company’s stock valued at $570,204,000 after buying an additional 486,266 shares in the last quarter. Vanguard Group Inc. increased its stake in Alphabet by 2.1% in the second quarter. Vanguard Group Inc. now owns 18,198,649 shares of the company’s stock valued at $12,803,295,000 after buying an additional 375,941 shares in the last quarter. Finally, Canada Pension Plan Investment Board increased its stake in Alphabet by 59.7% in the second quarter. Canada Pension Plan Investment Board now owns 874,328 shares of the company’s stock valued at $615,116,000 after buying an additional 326,759 shares in the last quarter. Hedge funds and other institutional investors own 34.12% of the company’s stock.
Alphabet Inc is a holding company. The Company holds interests in Google Inc (Google). The Company’s segments include Google and Other Bets. Google segment includes Internet products, such as Search, Ads, Commerce, Maps, YouTube, Apps, Cloud, Android, Chrome, Google Play, and hardware products, including Chromecast, Chromebooks and Nexus, which are sold by the Company.
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