Alphabet’s (GOOGL) Outperform Rating Reaffirmed at Raymond James Financial Inc.
Alphabet Inc. (NASDAQ:GOOGL)‘s stock had its “outperform” rating reiterated by research analysts at Raymond James Financial Inc. in a research report issued on Friday.
Other analysts have also issued reports about the company. Pacific Crest reissued a “buy” rating on shares of Alphabet in a research note on Wednesday, June 22nd. Evercore ISI reissued a “buy” rating and issued a $830.00 price target (down from $950.00) on shares of Alphabet in a research note on Thursday, June 23rd. Citigroup Inc. restated a “buy” rating and issued a $900.00 price objective on shares of Alphabet in a report on Friday, June 17th. Vetr downgraded Alphabet from a “strong-buy” rating to a “buy” rating and set a $815.96 price objective on the stock. in a report on Wednesday, June 15th. Finally, Goldman Sachs Group Inc. restated a “buy” rating on shares of Alphabet in a report on Monday, June 13th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, forty-seven have given a buy rating and one has given a strong buy rating to the stock. Alphabet has an average rating of “Buy” and an average price target of $926.06.
Shares of Alphabet (NASDAQ:GOOGL) traded down 0.30% during trading on Friday, hitting $800.71. The stock had a trading volume of 1,163,899 shares. Alphabet has a 1-year low of $667.24 and a 1-year high of $819.06. The firm has a 50-day moving average of $799.75 and a 200 day moving average of $759.77. The company has a market capitalization of $550.31 billion, a P/E ratio of 31.02 and a beta of 1.00.
Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Thursday, July 28th. The company reported $8.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $8.04 by $0.38. Alphabet had a return on equity of 14.74% and a net margin of 22.00%. Equities research analysts predict that Alphabet will post $34.11 earnings per share for the current fiscal year.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Raymond James Trust N.A. increased its position in shares of Alphabet by 5.0% in the first quarter. Raymond James Trust N.A. now owns 4,394 shares of the company’s stock worth $3,352,000 after buying an additional 210 shares during the period. Tompkins Financial Corp increased its position in shares of Alphabet by 2.8% in the first quarter. Tompkins Financial Corp now owns 2,203 shares of the company’s stock worth $1,681,000 after buying an additional 59 shares during the period. Cohen Lawrence B increased its position in shares of Alphabet by 0.9% in the first quarter. Cohen Lawrence B now owns 344 shares of the company’s stock worth $262,000 after buying an additional 3 shares during the period. City Holding Co. increased its position in shares of Alphabet by 3.8% in the first quarter. City Holding Co. now owns 383 shares of the company’s stock worth $292,000 after buying an additional 14 shares during the period. Finally, Carroll Financial Associates Inc. increased its position in shares of Alphabet by 2.9% in the first quarter. Carroll Financial Associates Inc. now owns 538 shares of the company’s stock worth $410,000 after buying an additional 15 shares during the period. 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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