Several other analysts have also commented on GOOGL. Wedbush lowered shares of Alphabet from a neutral rating to an underperform rating and increased their price target for the company from $7.20 to $800.00 in a research report on Tuesday, September 27th. Morgan Stanley reiterated a buy rating and issued a $880.00 price target on shares of Alphabet in a research report on Thursday, September 29th. Cantor Fitzgerald reiterated a buy rating on shares of Alphabet in a research report on Sunday, August 14th. RBC Capital Markets reiterated an outperform rating and issued a $1,025.00 price target (up from $1,000.00) on shares of Alphabet in a research report on Friday, September 30th. Finally, Jefferies Group reiterated a buy rating and issued a $1,000.00 price target on shares of Alphabet in a research report on Monday, October 3rd. 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 issued a strong buy rating to the stock. The stock has an average rating of Buy and an average target price of $926.27.
Shares of Alphabet (NASDAQ:GOOGL) opened at 800.71 on Wednesday. Alphabet has a 12 month low of $667.24 and a 12 month high of $819.06. The stock has a market cap of $550.31 billion, a price-to-earnings ratio of 31.02 and a beta of 1.00. The firm has a 50-day moving average price of $799.75 and a 200-day moving average price of $759.77.
Alphabet (NASDAQ:GOOGL) last issued its earnings results on Thursday, July 28th. The company reported $8.42 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $8.04 by $0.38. Alphabet had a net margin of 22.00% and a return on equity of 14.74%. Equities analysts expect that Alphabet will post $34.11 EPS for the current fiscal year.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC increased its position in shares of Alphabet by 97.3% in the second quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC now owns 146 shares of the company’s stock worth $102,000 after buying an additional 72 shares during the last quarter. Archford Capital Strategies LLC increased its stake in Alphabet by 29.8% in the second quarter. Archford Capital Strategies LLC now owns 148 shares of the company’s stock valued at $104,000 after buying an additional 34 shares in the last quarter. Roble Belko & Company Inc increased its stake in Alphabet by 294.9% in the second quarter. Roble Belko & Company Inc now owns 154 shares of the company’s stock valued at $108,000 after buying an additional 115 shares in the last quarter. MCF Advisors LLC increased its stake in Alphabet by 1.9% in the second quarter. MCF Advisors LLC now owns 159 shares of the company’s stock valued at $112,000 after buying an additional 3 shares in the last quarter. Finally, Point72 Asia Hong Kong Ltd acquired a new stake in Alphabet during the second quarter valued at approximately $117,000. 34.12% of the stock is currently owned by hedge funds and other institutional investors.
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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