Alphabet Inc. (GOOGL) Target Price Boosted to $970.00

Alphabet Inc. (GOOGL) Target Price Boosted to $970.00

Alphabet Inc. (NASDAQ:GOOGL) had its price objective increased by Pivotal Research from $960.00 to $970.00 in a report issued on Friday. The firm currently has a buy rating on the stock.

Other research analysts have also recently issued research reports about the stock. Zacks Investment Research cut shares of Alphabet from a buy rating to a hold rating in a report on Thursday, October 27th. MKM Partners set a $935.00 price objective on shares of Alphabet and gave the company a buy rating in a report on Monday, November 14th. RBC Capital Markets restated an outperform rating and issued a $1,025.00 price objective (up previously from $1,000.00) on shares of Alphabet in a report on Friday, September 30th. Monness Crespi & Hardt restated a buy rating and issued a $900.00 price objective on shares of Alphabet in a report on Saturday, October 29th. Finally, Robert W. Baird restated an outperform rating and issued a $930.00 price objective on shares of Alphabet in a report on Sunday, December 4th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, forty-three have given a buy rating and three have issued a strong buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus price target of $963.79.

Shares of Alphabet (NASDAQ:GOOGL) traded down 0.207% on Friday, reaching $818.495. 399,174 shares of the company’s stock were exchanged. Alphabet has a one year low of $672.66 and a one year high of $867.00. The firm has a market capitalization of $565.82 billion, a P/E ratio of 29.049 and a beta of 0.89. The firm has a 50 day moving average of $822.15 and a 200 day moving average of $801.71.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Thursday, January 26th. The company reported $9.36 earnings per share for the quarter, missing analysts’ consensus estimates of $9.64 by $0.28. Alphabet had a net margin of 21.58% and a return on equity of 14.85%. During the same quarter last year, the firm earned $8.67 EPS. On average, equities research analysts predict that Alphabet will post $34.09 EPS for the current year.

Several hedge funds have recently added to or reduced their stakes in the company. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC increased its stake in Alphabet by 97.3% in the second quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC now owns 146 shares of the company’s stock worth $102,000 after buying an additional 72 shares during the last quarter. Cedar Wealth Management LLC boosted its position in shares of Alphabet by 5.8% in the third quarter. Cedar Wealth Management LLC now owns 128 shares of the company’s stock valued at $103,000 after buying an additional 7 shares during the period. Archford Capital Strategies LLC boosted its position in shares of Alphabet by 29.8% in the second quarter. Archford Capital Strategies LLC now owns 148 shares of the company’s stock valued at $104,000 after buying an additional 34 shares during the period. Roble Belko & Company Inc boosted its position in shares of Alphabet by 294.9% in the second quarter. Roble Belko & Company Inc now owns 154 shares of the company’s stock valued at $108,000 after buying an additional 115 shares during the period. Finally, MCF Advisors LLC boosted its position in shares of Alphabet by 1.9% in the second quarter. MCF Advisors LLC now owns 159 shares of the company’s stock valued at $112,000 after buying an additional 3 shares during the period. 35.11% of the stock is owned by institutional investors and hedge funds.

About Alphabet

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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