Alphabet (GOOGL) Sets New 52-Week High at $1,094.99

Shares of Alphabet Inc (NASDAQ:GOOGL) reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $1,094.99 and last traded at $1,093.61, with a volume of 874831 shares trading hands. The stock had previously closed at $1,053.40.

A number of equities analysts have recently weighed in on the company. Stifel Nicolaus increased their target price on Alphabet from $1,075.00 to $1,150.00 and gave the stock a “buy” rating in a research note on Monday, October 30th. Cowen increased their target price on Alphabet from $1,150.00 to $1,230.00 and gave the stock an “outperform” rating in a research note on Thursday. Bank of America reiterated a “buy” rating and set a $1,100.00 target price on shares of Alphabet in a research note on Tuesday, September 26th. Piper Jaffray Companies reiterated a “buy” rating and set a $1,150.00 target price on shares of Alphabet in a research note on Thursday, October 19th. Finally, Citigroup reiterated a “buy” rating on shares of Alphabet in a research note on Monday, October 30th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, forty have issued a buy rating and one has given a strong buy rating to the company’s stock. Alphabet presently has a consensus rating of “Buy” and a consensus price target of $1,096.47.

The stock has a market capitalization of $758,160.00, a P/E ratio of 36.50, a PEG ratio of 1.40 and a beta of 0.90. The company has a current ratio of 5.77, a quick ratio of 5.73 and a debt-to-equity ratio of 0.03.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Thursday, October 26th. The information services provider reported $9.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.43 by $1.14. The business had revenue of $22.27 billion during the quarter, compared to the consensus estimate of $21.94 billion. Alphabet had a return on equity of 14.26% and a net margin of 20.09%. During the same quarter in the previous year, the business earned $9.06 EPS. equities research analysts anticipate that Alphabet Inc will post 32.34 earnings per share for the current year.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Novare Capital Management LLC raised its holdings in Alphabet by 0.9% during the 2nd quarter. Novare Capital Management LLC now owns 8,590 shares of the information services provider’s stock valued at $7,986,000 after acquiring an additional 80 shares during the period. Camelot Portfolios LLC bought a new stake in Alphabet during the 2nd quarter valued at $211,000. Country Trust Bank bought a new stake in Alphabet during the 2nd quarter valued at $44,071,000. Anchor Capital Advisors LLC raised its holdings in Alphabet by 3.0% during the 2nd quarter. Anchor Capital Advisors LLC now owns 378 shares of the information services provider’s stock valued at $351,000 after acquiring an additional 11 shares during the period. Finally, Alley Co LLC raised its holdings in Alphabet by 7.5% during the 1st quarter. Alley Co LLC now owns 3,094 shares of the information services provider’s stock valued at $2,623,000 after acquiring an additional 216 shares during the period. Hedge funds and other institutional investors own 33.55% of the company’s stock.

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About Alphabet

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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