Alphabet Inc (GOOGL) Receives $1,340.30 Consensus Target Price from Brokerages

Alphabet Inc (NASDAQ:GOOGL) has received an average recommendation of “Buy” from the thirty-six research firms that are covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, four have assigned a hold rating and thirty have assigned a buy rating to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $1,339.82.

GOOGL has been the topic of several recent analyst reports. Bank of America reduced their price target on Alphabet from $1,390.00 to $1,350.00 and set a “buy” rating on the stock in a report on Friday, October 26th. Goldman Sachs Group reduced their price target on Alphabet from $1,500.00 to $1,300.00 and set a “buy” rating on the stock in a report on Friday, October 26th. Morgan Stanley reiterated an “overweight” rating and issued a $1,500.00 price target (down from $1,515.00) on shares of Alphabet in a report on Wednesday. Macquarie reiterated a “buy” rating and issued a $1,250.00 price target on shares of Alphabet in a report on Monday, August 27th. Finally, Pivotal Research reduced their price target on Alphabet from $1,080.00 to $1,010.00 and set a “hold” rating on the stock in a report on Friday, October 12th.

Shares of NASDAQ GOOGL traded up $16.47 during midday trading on Thursday, hitting $1,071.05. The company’s stock had a trading volume of 1,767,399 shares, compared to its average volume of 2,034,524. The company has a debt-to-equity ratio of 0.02, a quick ratio of 4.10 and a current ratio of 4.14. Alphabet has a 12-month low of $984.00 and a 12-month high of $1,291.44. The company has a market cap of $730.23 billion, a price-to-earnings ratio of 33.42, a PEG ratio of 1.28 and a beta of 1.06.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Thursday, October 25th. The information services provider reported $13.06 earnings per share for the quarter, topping the consensus estimate of $10.54 by $2.52. Alphabet had a return on equity of 19.40% and a net margin of 14.45%. The firm had revenue of $27.16 billion for the quarter, compared to the consensus estimate of $27.32 billion. Sell-side analysts predict that Alphabet will post 45.24 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Alpine Global Management LLC acquired a new stake in shares of Alphabet in the 3rd quarter worth $241,000. Equitable Trust Co. boosted its position in shares of Alphabet by 2.2% in the 3rd quarter. Equitable Trust Co. now owns 16,533 shares of the information services provider’s stock worth $19,957,000 after purchasing an additional 350 shares in the last quarter. Bridges Investment Management Inc. boosted its position in shares of Alphabet by 20.3% in the 3rd quarter. Bridges Investment Management Inc. now owns 27,400 shares of the information services provider’s stock worth $33,075,000 after purchasing an additional 4,620 shares in the last quarter. Osher Van de Voorde Investment Management acquired a new stake in shares of Alphabet in the 3rd quarter worth $339,000. Finally, Koshinski Asset Management Inc. boosted its position in shares of Alphabet by 51.1% in the 3rd quarter. Koshinski Asset Management Inc. now owns 2,072 shares of the information services provider’s stock worth $2,501,000 after purchasing an additional 701 shares in the last quarter. 33.42% of the stock is currently owned by institutional investors and hedge funds.

About Alphabet

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.

Featured Story: Call Option

Analyst Recommendations for Alphabet (NASDAQ:GOOGL)

Receive News & Ratings for Alphabet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alphabet and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply