Alphabet Inc. (NASDAQ:GOOGL)‘s stock had its “buy” rating reissued by equities researchers at Bank of America Corp. in a note issued to investors on Tuesday. They currently have a $960.00 price target on the stock. Bank of America Corp.’s price target points to a potential upside of 19.82% from the company’s previous close.
GOOGL has been the subject of several other reports. Royal Bank Of Canada reiterated an “outperform” rating and set a $1,000.00 price target on shares of Alphabet in a report on Tuesday, June 28th. Deutsche Bank AG reissued a “buy” rating on shares of Alphabet in a research note on Sunday, July 10th. Robert W. Baird reissued a “buy” rating on shares of Alphabet in a research note on Sunday, July 17th. Credit Suisse Group AG reissued a “buy” rating and issued a $920.00 price objective on shares of Alphabet in a research note on Sunday, July 17th. Finally, B. Riley reissued a “buy” rating and issued a $950.00 price objective on shares of Alphabet in a research note on Friday, July 29th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, forty-seven have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $926.06.
Alphabet (NASDAQ:GOOGL) opened at 801.23 on Tuesday. Alphabet has a 1-year low of $654.49 and a 1-year high of $819.06. The firm has a market cap of $550.66 billion, a P/E ratio of 31.04 and a beta of 1.00. The stock’s 50 day moving average is $799.87 and its 200-day moving average is $759.18.
Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Thursday, July 28th. The company reported $8.42 EPS for the quarter, topping the Zacks’ consensus estimate of $8.04 by $0.38. Alphabet had a return on equity of 14.74% and a net margin of 22.00%. Analysts forecast that Alphabet will post $34.26 EPS for the current year.
Several institutional investors have recently made changes to their positions in GOOGL. Bank of Montreal Can purchased a new position in shares of Alphabet during the second quarter worth $761,801,000. Emerald Acquisition Ltd. bought a new position in Alphabet during the second quarter worth approximately $400,022,000. Boston Partners raised its position in Alphabet by 150.0% in the second quarter. Boston Partners now owns 810,490 shares of the company’s stock worth $570,204,000 after buying an additional 486,266 shares during the period. Vanguard Group Inc. raised its position in Alphabet by 2.1% in the second quarter. Vanguard Group Inc. now owns 18,198,649 shares of the company’s stock worth $12,803,295,000 after buying an additional 375,941 shares during the period. Finally, Canada Pension Plan Investment Board raised its position in Alphabet by 59.7% in the second quarter. Canada Pension Plan Investment Board now owns 874,328 shares of the company’s stock worth $615,116,000 after buying an additional 326,759 shares during the period. Institutional investors own 34.12% of the company’s stock.
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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