Alphabet Inc (NASDAQ:GOOGL)‘s stock had its “outperform” rating reiterated by investment analysts at Royal Bank of Canada in a report issued on Saturday. They presently have a $1,025.00 price objective on the information services provider’s stock. Royal Bank of Canada’s price target would suggest a potential upside of 19.33% from the stock’s previous close.
A number of other research analysts have also recently commented on the company. Susquehanna Bancshares Inc reissued a “positive” rating and issued a $1,000.00 target price on shares of Alphabet in a research note on Sunday, March 19th. Robert W. Baird reissued an “outperform” rating and issued a $930.00 target price on shares of Alphabet in a research note on Sunday, December 4th. Goldman Sachs Group Inc reissued a “buy” rating and issued a $970.00 target price on shares of Alphabet in a research note on Thursday, December 29th. Bank of America Corp reaffirmed a “buy” rating and set a $1,025.00 price objective on shares of Alphabet in a research note on Thursday, March 23rd. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $1,040.00 price objective on shares of Alphabet in a research note on Monday, March 13th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, forty have given a buy rating and one has assigned a strong buy rating to the company. Alphabet currently has an average rating of “Buy” and a consensus price target of $964.41.
Alphabet (NASDAQ:GOOGL) traded down 0.13% during midday trading on Friday, reaching $858.95. The company had a trading volume of 1,172,469 shares. The company has a market cap of $593.90 billion, a PE ratio of 30.81 and a beta of 0.98. Alphabet has a 52-week low of $672.66 and a 52-week high of $874.42. The company’s 50-day moving average is $851.85 and its 200 day moving average is $822.85.
Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Thursday, January 26th. The information services provider reported $9.36 earnings per share for the quarter, topping the consensus estimate of $7.65 by $1.71. The firm had revenue of $21.22 billion for the quarter, compared to analysts’ expectations of $20.58 billion. Alphabet had a net margin of 21.58% and a return on equity of 14.85%. During the same quarter in the prior year, the firm posted $8.67 earnings per share. On average, equities research analysts forecast that Alphabet will post $33.33 EPS for the current year.
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Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Cedar Wealth Management LLC boosted its position in Alphabet by 5.8% in the third quarter. Cedar Wealth Management LLC now owns 128 shares of the information services provider’s stock worth $103,000 after buying an additional 7 shares during the period. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC boosted its position in Alphabet by 71,762.1% in the fourth quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC now owns 115,698 shares of the information services provider’s stock worth $116,000 after buying an additional 115,537 shares during the period. First Command Bank purchased a new position in Alphabet during the fourth quarter worth $123,000. Farmers & Merchants Trust Co of Chambersburg PA purchased a new position in Alphabet during the fourth quarter worth $127,000. Finally, Tarbox Group Inc. boosted its position in Alphabet by 1.9% in the third quarter. Tarbox Group Inc. now owns 163 shares of the information services provider’s stock worth $131,000 after buying an additional 3 shares during the period. Institutional investors own 34.98% of the company’s stock.
Alphabet Inc is a holding company. The Company’s businesses include Google Inc (Google) and its Internet products, such as Access, Calico, CapitalG, GV, Nest, Verily, Waymo and X. The Company’s segments include Google and Other Bets. The Google segment includes its Internet products, such as Search, Ads, Commerce, Maps, YouTube, Google Cloud, Android, Chrome and Google Play, as well as its hardware initiatives.
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