Shares of Alphabet Inc (NASDAQ:GOOGL) have been given an average rating of “Buy” by the forty-five research firms that are covering the company, MarketBeat reports. Three equities research analysts have rated the stock with a hold rating and thirty-eight have given a buy rating to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $1,669.26.

Several brokerages have commented on GOOGL. Stifel Nicolaus downgraded shares of Alphabet from a “buy” rating to a “hold” rating and boosted their price objective for the company from $1,550.00 to $1,600.00 in a research report on Friday, July 31st. Barclays upped their price target on shares of Alphabet from $1,600.00 to $1,800.00 and gave the stock an “overweight” rating in a report on Friday, July 31st. Guggenheim upped their price target on shares of Alphabet from $1,580.00 to $1,725.00 and gave the stock a “buy” rating in a report on Friday, July 31st. Royal Bank of Canada upped their price target on shares of Alphabet from $1,500.00 to $1,700.00 and gave the stock an “outperform” rating in a report on Friday, July 31st. Finally, JMP Securities upped their price target on shares of Alphabet from $1,500.00 to $1,700.00 and gave the stock an “outperform” rating in a report on Monday, August 3rd.

Several hedge funds and other institutional investors have recently bought and sold shares of GOOGL. Demars Financial Group LLC raised its position in Alphabet by 38.7% in the 2nd quarter. Demars Financial Group LLC now owns 738 shares of the information services provider’s stock worth $1,047,000 after purchasing an additional 206 shares during the period. FinTrust Capital Advisors LLC increased its position in shares of Alphabet by 66.3% in the second quarter. FinTrust Capital Advisors LLC now owns 1,610 shares of the information services provider’s stock valued at $2,283,000 after acquiring an additional 642 shares during the period. Mitsubishi UFJ Trust & Banking Corp increased its position in shares of Alphabet by 8.4% in the second quarter. Mitsubishi UFJ Trust & Banking Corp now owns 315,928 shares of the information services provider’s stock valued at $448,001,000 after acquiring an additional 24,538 shares during the period. Garde Capital Inc. increased its position in shares of Alphabet by 6.3% in the second quarter. Garde Capital Inc. now owns 2,621 shares of the information services provider’s stock valued at $3,717,000 after acquiring an additional 156 shares during the period. Finally, PNC Financial Services Group Inc. increased its position in shares of Alphabet by 1.7% in the second quarter. PNC Financial Services Group Inc. now owns 483,778 shares of the information services provider’s stock valued at $686,023,000 after acquiring an additional 7,950 shares during the period. 33.78% of the stock is owned by institutional investors.

NASDAQ:GOOGL opened at $1,535.12 on Friday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.40 and a current ratio of 3.41. The stock’s 50-day simple moving average is $1,548.44 and its 200 day simple moving average is $1,393.53. The company has a market cap of $1,044.13 billion, a P/E ratio of 33.76, a P/E/G ratio of 2.08 and a beta of 1.07. Alphabet has a 52-week low of $1,008.87 and a 52-week high of $1,726.10.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Thursday, July 30th. The information services provider reported $10.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $8.43 by $1.70. Alphabet had a return on equity of 15.62% and a net margin of 18.99%. The company had revenue of $31.60 billion during the quarter, compared to analysts’ expectations of $30.58 billion. As a group, equities analysts predict that Alphabet will post 44.74 earnings per share for the current fiscal year.

About Alphabet

Alphabet Inc, through its subsidiaries, provides online advertising services in the United States and internationally. The company offers performance and brand advertising services. It operates through Google and Other Bets segments. The Google segment includes principal Internet products, such as Ads, Android, Chrome, Commerce, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure and newer efforts, including Virtual Reality.

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Analyst Recommendations for Alphabet (NASDAQ:GOOGL)

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