Other equities research analysts also recently issued research reports about the company. Cantor Fitzgerald reaffirmed a buy rating on shares of Alphabet in a research report on Saturday, June 4th. Mizuho reaffirmed a buy rating and issued a $1,020.00 price objective (up previously from $1,010.00) on shares of Alphabet in a research report on Sunday, July 31st. Bank of America Corp. reaffirmed a buy rating and issued a $960.00 price objective on shares of Alphabet in a research report on Monday, September 26th. Robert W. Baird reaffirmed a buy rating on shares of Alphabet in a research report on Thursday, June 2nd. Finally, Macquarie reiterated an outperform rating on shares of Alphabet in a report on Tuesday, July 19th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, forty-seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of Buy and an average target price of $924.78.
Shares of Alphabet (NASDAQ:GOOGL) opened at 802.79 on Thursday. Alphabet has a one year low of $654.49 and a one year high of $819.06. The stock has a market cap of $551.74 billion, a P/E ratio of 31.11 and a beta of 1.00. The firm’s 50-day moving average price is $799.87 and its 200 day moving average price is $758.88.
Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Thursday, July 28th. The company reported $8.42 earnings per share for the quarter, topping the consensus estimate 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 expect that Alphabet will post $34.26 EPS for the current fiscal year.
A number of hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. increased its stake in shares of Alphabet by 2.1% in the second quarter. Vanguard Group Inc. now owns 18,198,649 shares of the company’s stock valued at $12,803,295,000 after buying an additional 375,941 shares during the period. State Street Corp increased its stake in shares of Alphabet by 0.4% in the first quarter. State Street Corp now owns 11,181,006 shares of the company’s stock valued at $8,529,984,000 after buying an additional 39,282 shares during the period. BlackRock Institutional Trust Company N.A. increased its position in Alphabet by 1.7% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 7,747,794 shares of the company’s stock worth $5,450,806,000 after buying an additional 129,555 shares during the period. Bank of New York Mellon Corp increased its position in Alphabet by 0.3% in the second quarter. Bank of New York Mellon Corp now owns 4,096,211 shares of the company’s stock worth $2,881,806,000 after buying an additional 14,001 shares during the period. Finally, BlackRock Fund Advisors increased its position in Alphabet by 2.5% in the second quarter. BlackRock Fund Advisors now owns 3,829,095 shares of the company’s stock worth $2,693,883,000 after buying an additional 93,453 shares during the period. 34.12% of the stock is currently owned by institutional investors.
Alphabet Company Profile
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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