Alphabet Inc Class A (GOOGL) Price Target Cut to $1,010.00 by Analysts at Pivotal Research

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Alphabet Inc Class A (NASDAQ:GOOGL) had its target price lowered by Pivotal Research from $1,080.00 to $1,010.00 in a research note issued to investors on Friday. Pivotal Research currently has a hold rating on the information services provider’s stock.

Several other equities analysts have also recently weighed in on GOOGL. Morgan Stanley restated an overweight rating and set a $1,250.00 price target (up previously from $1,200.00) on shares of Alphabet Inc Class A in a report on Thursday, June 28th. Zacks Investment Research cut Alphabet Inc Class A from a hold rating to a sell rating in a report on Monday, July 2nd. ValuEngine raised Alphabet Inc Class A from a hold rating to a buy rating in a research note on Monday, July 2nd. Nomura began coverage on Alphabet Inc Class A in a research note on Tuesday, July 10th. They issued a buy rating and a $1,400.00 price objective for the company. Finally, Barclays raised their price objective on Alphabet Inc Class A from $1,250.00 to $1,350.00 and gave the company an overweight rating in a research note on Friday, July 13th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and thirty-one have given a buy rating to the company’s stock. Alphabet Inc Class A presently has an average rating of Buy and an average target price of $1,315.01.

Shares of NASDAQ:GOOGL traded up $29.80 during trading on Friday, hitting $1,120.54. 2,465,102 shares of the company’s stock were exchanged, compared to its average volume of 2,002,711. The company has a current ratio of 4.15, a quick ratio of 4.13 and a debt-to-equity ratio of 0.02. Alphabet Inc Class A has a 52-week low of $977.08 and a 52-week high of $1,291.44. The stock has a market capitalization of $840.06 billion, a P/E ratio of 34.96, a P/E/G ratio of 1.53 and a beta of 1.11.

Alphabet Inc Class A (NASDAQ:GOOGL) last released its earnings results on Monday, July 23rd. The information services provider reported $11.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $9.51 by $2.24. The firm had revenue of $26.24 billion during the quarter, compared to analysts’ expectations of $25.64 billion. Alphabet Inc Class A had a return on equity of 18.24% and a net margin of 13.16%. During the same quarter last year, the business posted $5.01 earnings per share. On average, research analysts predict that Alphabet Inc Class A will post 42.53 earnings per share for the current fiscal year.

Several hedge funds have recently modified their holdings of GOOGL. BlackRock Inc. increased its holdings in shares of Alphabet Inc Class A by 0.7% in the 2nd quarter. BlackRock Inc. now owns 18,861,236 shares of the information services provider’s stock valued at $21,297,919,000 after acquiring an additional 128,040 shares during the period. Summit Trail Advisors LLC increased its holdings in shares of Alphabet Inc Class A by 134,676.9% in the 1st quarter. Summit Trail Advisors LLC now owns 17,938,806 shares of the information services provider’s stock valued at $17,939,000 after acquiring an additional 17,925,496 shares during the period. FMR LLC increased its holdings in shares of Alphabet Inc Class A by 0.3% in the 2nd quarter. FMR LLC now owns 15,576,039 shares of the information services provider’s stock valued at $17,588,307,000 after acquiring an additional 44,375 shares during the period. Northern Trust Corp increased its holdings in shares of Alphabet Inc Class A by 0.8% in the 2nd quarter. Northern Trust Corp now owns 3,677,525 shares of the information services provider’s stock valued at $4,152,625,000 after acquiring an additional 28,375 shares during the period. Finally, Bank of New York Mellon Corp increased its holdings in shares of Alphabet Inc Class A by 0.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 3,249,834 shares of the information services provider’s stock valued at $3,669,682,000 after acquiring an additional 24,188 shares during the period. 33.53% of the stock is owned by hedge funds and other institutional investors.

About Alphabet Inc Class A

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 Inc Class A (NASDAQ:GOOGL)

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