Alphabet Inc (GOOGL) Given Consensus Recommendation of “Buy” by Brokerages
Shares of Alphabet Inc (NASDAQ:GOOGL) have received a consensus recommendation of “Buy” from the forty-seven ratings firms that are currently covering the company. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, forty have given a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $973.73.
GOOGL has been the subject of several recent research reports. Vetr raised shares of Alphabet from a “buy” rating to a “strong-buy” rating and set a $880.83 target price for the company in a report on Thursday, November 24th. Canaccord Genuity cut their target price on shares of Alphabet from $950.00 to $925.00 and set a “buy” rating for the company in a report on Thursday, December 1st. Cantor Fitzgerald reaffirmed a “buy” rating and set a $1,040.00 target price on shares of Alphabet in a report on Sunday, December 4th. Robert W. Baird reaffirmed an “outperform” rating and set a $930.00 target price on shares of Alphabet in a report on Sunday, December 4th. Finally, Cleveland Research initiated coverage on shares of Alphabet in a report on Friday, December 16th. They set a “neutral” rating for the company.
Hedge funds have recently modified their holdings of the stock. Norges Bank bought a new stake in shares of Alphabet during the fourth quarter valued at about $2,411,505,000. Glenview Capital Management LLC acquired a new stake in shares of Alphabet during the fourth quarter worth about $605,119,000. Asset Management One Co. Ltd. raised its stake in shares of Alphabet by 1,116.6% in the fourth quarter. Asset Management One Co. Ltd. now owns 554,276 shares of the company’s stock worth $439,667,000 after buying an additional 508,715 shares during the period. Russell Investments Group Ltd. acquired a new stake in shares of Alphabet during the fourth quarter worth about $348,302,000. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new stake in shares of Alphabet during the fourth quarter worth about $341,958,000. Hedge funds and other institutional investors own 34.98% of the company’s stock.
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Shares of Alphabet (NASDAQ:GOOGL) opened at 867.91 on Tuesday. The firm has a 50 day moving average price of $844.45 and a 200 day moving average price of $814.97. Alphabet has a 1-year low of $672.66 and a 1-year high of $874.42. The firm has a market cap of $600.09 billion, a P/E ratio of 31.13 and a beta of 0.98.
Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Thursday, January 26th. The company reported $9.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $9.64 by $0.28. Alphabet had a return on equity of 14.85% and a net margin of 21.58%. During the same quarter in the previous year, the business earned $8.67 EPS. Analysts anticipate that Alphabet will post $33.41 EPS for the current year.
Alphabet Company Profile
Alphabet Inc is a holding company. The Company’s businesses include Google Inc (Google) and its Internet products, such as Access, Calico, CapitalG, GV, Nest, Verily, Waymo and X. The Company’s segments include Google and Other Bets. The Google segment includes its Internet products, such as Search, Ads, Commerce, Maps, YouTube, Google Cloud, Android, Chrome and Google Play, as well as its hardware initiatives.
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