Zacks Investment Research upgraded shares of Alphabet Inc. (NASDAQ:GOOGL) from a hold rating to a buy rating in a research note released on Wednesday morning. They currently have $907.00 target price on the stock.
According to Zacks, “Alphabet is one of the leading providers of target-based advertisements on the web. The company has shown good execution to date, more or less maintaining its dominant share in a competitive, fast-growing search market. Its focus on innovation, strategic acquisitions and Android OS should continue to generate strong cash flows. Its diversification strategy is also positive, but requires significant investment and involves uncertain payback periods, particularly since these efforts are at the cutting edge of technology. We also see growing competition and legal hassles that could intensify with Brexit. “
Other research analysts have also recently issued research reports about the stock. Deutsche Bank AG restated a buy rating on shares of Alphabet in a report on Sunday, July 10th. Royal Bank Of Canada restated an outperform rating and issued a $1,000.00 target price on shares of Alphabet in a report on Tuesday, June 28th. Robert W. Baird restated a buy rating on shares of Alphabet in a report on Sunday, July 17th. Credit Suisse Group AG restated a buy rating and issued a $920.00 target price on shares of Alphabet in a report on Sunday, July 17th. Finally, Bank of America Corp. restated a buy rating and issued a $925.00 target price on shares of Alphabet in a report on Sunday, July 17th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, forty-seven have issued a buy rating and one has issued a strong buy rating to the company. Alphabet presently has an average rating of Buy and a consensus price target of $926.50.
Alphabet (NASDAQ:GOOGL) opened at 806.36 on Wednesday. The firm has a market cap of $554.19 billion, a P/E ratio of 31.24 and a beta of 1.00. The company’s 50 day moving average is $801.64 and its 200-day moving average is $761.61. Alphabet has a 52-week low of $670.70 and a 52-week high of $819.86.
Alphabet (NASDAQ:GOOGL) last issued its earnings results on Thursday, July 28th. The company reported $8.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.04 by $0.38. Alphabet had a net margin of 22.00% and a return on equity of 14.74%. On average, equities analysts predict that Alphabet will post $34.11 EPS for the current fiscal year.
A number of institutional investors have recently made changes to their positions in the stock. Credit Agricole S A increased its position in shares of Alphabet by 3.7% in the first quarter. Credit Agricole S A now owns 375,148 shares of the company’s stock valued at $286,204,000 after buying an additional 13,399 shares during the period. AXA increased its position in shares of Alphabet by 12.1% in the first quarter. AXA now owns 452,331 shares of the company’s stock valued at $345,083,000 after buying an additional 48,771 shares during the period. Aviva PLC increased its position in shares of Alphabet by 2.1% in the first quarter. Aviva PLC now owns 178,763 shares of the company’s stock valued at $136,378,000 after buying an additional 3,711 shares during the period. Marathon Asset Management LLP increased its position in shares of Alphabet by 1.9% in the second quarter. Marathon Asset Management LLP now owns 52,006 shares of the company’s stock valued at $36,583,000 after buying an additional 992 shares during the period. Finally, Chevy Chase Trust Holdings Inc. increased its position in shares of Alphabet by 1.8% in the second quarter. Chevy Chase Trust Holdings Inc. now owns 295,125 shares of the company’s stock valued at $207,629,000 after buying an additional 5,263 shares during the period. 34.15% of the stock is currently owned by 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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