Alphabet Inc (GOOGL) Rating Reiterated by Royal Bank of Canada
Alphabet Inc (NASDAQ:GOOGL)‘s stock had its “outperform” rating reissued by equities research analysts at Royal Bank of Canada in a note issued to investors on Saturday. They currently have a $1,025.00 price target on the information services provider’s stock. Royal Bank of Canada’s price target points to a potential upside of 19.33% from the stock’s current price.
Other equities analysts also recently issued reports about the stock. B. Riley restated a “buy” rating and issued a $990.00 price target on shares of Alphabet in a research note on Wednesday, February 1st. Canaccord Genuity decreased their price target on shares of Alphabet from $950.00 to $925.00 and set a “buy” rating on the stock in a research note on Thursday, December 1st. Aegis started coverage on shares of Alphabet in a research note on Wednesday, December 21st. They issued a “buy” rating and a $980.00 price target on the stock. Robert W. Baird restated an “outperform” rating on shares of Alphabet in a research note on Wednesday, December 21st. Finally, William Blair restated an “outperform” rating on shares of Alphabet in a research note on Friday, March 3rd. One analyst has rated the stock with a sell rating, seven have issued a hold rating, forty have given a buy rating and one has given a strong buy rating to the 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% during mid-day trading on Friday, reaching $858.95. 1,172,389 shares of the company were exchanged. The company has a market capitalization 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 12 month low of $672.66 and a 12 month high of $874.42.
Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Thursday, January 26th. The information services provider reported $9.36 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $7.65 by $1.71. The company had revenue of $21.22 billion for the quarter, compared to analyst estimates of $20.58 billion. Alphabet had a net margin of 21.58% and a return on equity of 14.85%. During the same period in the prior year, the firm earned $8.67 earnings per share. On average, equities analysts forecast that Alphabet will post $33.33 earnings per share for the current fiscal year.
Hedge funds have recently made changes to their positions in the company. Cedar Wealth Management LLC increased its stake in shares of Alphabet by 5.8% in the third quarter. Cedar Wealth Management LLC now owns 128 shares of the information services provider’s stock valued at $103,000 after buying an additional 7 shares during the period. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC increased its stake 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 valued at $116,000 after buying an additional 115,537 shares during the last quarter. First Command Bank acquired a new stake in Alphabet during the fourth quarter valued at about $123,000. Farmers & Merchants Trust Co of Chambersburg PA acquired a new stake in Alphabet during the fourth quarter valued at about $127,000. Finally, Tarbox Group Inc. increased its stake in Alphabet by 1.9% in the third quarter. Tarbox Group Inc. now owns 163 shares of the information services provider’s stock valued at $131,000 after buying an additional 3 shares during the last quarter. 34.98% of the stock is owned by institutional investors.
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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