Alphabet Inc (GOOGL) Given “Overweight” Rating at Morgan Stanley
Alphabet Inc (NASDAQ:GOOGL)‘s stock had its “overweight” rating reaffirmed by Morgan Stanley in a note issued to investors on Saturday. They currently have a $1,000.00 target price on the information services provider’s stock. Morgan Stanley’s target price would suggest a potential upside of 16.42% from the company’s previous close.
Several other analysts have also recently issued reports on GOOGL. Canaccord Genuity cut their price objective on Alphabet from $950.00 to $925.00 and set a “buy” rating on the stock in a research note on Thursday, December 1st. Cantor Fitzgerald restated a “buy” rating and set a $1,040.00 price objective on shares of Alphabet in a research note on Sunday, December 4th. Robert W. Baird restated an “outperform” rating and set a $930.00 price objective on shares of Alphabet in a research note on Sunday, December 4th. Vetr cut Alphabet from a “strong-buy” rating to a “buy” rating and set a $873.83 price objective on the stock. in a research note on Wednesday, December 7th. Finally, Cleveland Research started coverage on Alphabet in a research note on Friday, December 16th. They set a “neutral” rating on the stock. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, forty have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $964.41.
Shares of Alphabet (NASDAQ:GOOGL) traded down 0.13% on Friday, hitting $858.95. The stock had a trading volume of 1,172,389 shares. The company has a market cap of $593.90 billion, a price-to-earnings ratio of 30.81 and a beta of 0.98. The firm’s 50-day moving average is $851.85 and its 200-day moving average is $822.85. Alphabet has a one year low of $672.66 and a one year high of $874.42.
Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Thursday, January 26th. The information services provider reported $9.36 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $7.65 by $1.71. Alphabet had a return on equity of 14.85% and a net margin of 21.58%. The business had revenue of $21.22 billion for the quarter, compared to analysts’ expectations of $20.58 billion. During the same quarter in the previous year, the firm posted $8.67 earnings per share. On average, analysts expect that Alphabet will post $33.33 EPS for the current fiscal year.
Institutional investors have recently bought and sold shares of the company. Cedar Wealth Management LLC increased its position in Alphabet by 5.8% in the third quarter. Cedar Wealth Management LLC now owns 128 shares of the information services provider’s stock worth $103,000 after buying an additional 7 shares during the period. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC increased its position in Alphabet by 71,762.1% in the fourth quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC now owns 115,698 shares of the information services provider’s stock worth $116,000 after buying an additional 115,537 shares during the period. First Command Bank bought a new position in Alphabet during the fourth quarter worth $123,000. Farmers & Merchants Trust Co of Chambersburg PA bought a new position in Alphabet during the fourth quarter worth $127,000. Finally, Tarbox Group Inc. increased its position in Alphabet by 1.9% in the third quarter. Tarbox Group Inc. now owns 163 shares of the information services provider’s stock worth $131,000 after buying an additional 3 shares during the period. 34.98% of the stock is currently owned by institutional investors and hedge funds.
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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