Pacific Crest Lifted Alphabet Inc. (GOOGL) Target Price to $1,040.00

Pacific Crest Lifted Alphabet Inc. (GOOGL) Target Price to $1,040.00

Alphabet Inc. (NASDAQ:GOOGL) had its price objective boosted by Pacific Crest from $1,030.00 to $1,040.00 in a research note issued to investors on Friday morning. Pacific Crest currently has an overweight rating on the stock.

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

Alphabet (NASDAQ:GOOGL) traded down 0.46% on Friday, reaching $816.40. 710,514 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 50 day moving average of $822.15 and a 200-day moving average of $801.71. The stock has a market cap of $564.37 billion, a price-to-earnings ratio of 28.98 and a beta of 0.89.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Thursday, January 26th. The company reported $9.36 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate 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 in the previous year, the business posted $8.67 earnings per share. Equities research analysts forecast that Alphabet will post $34.09 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Bank of New York Mellon Corp boosted its position in shares of Alphabet by 0.3% in the second quarter. Bank of New York Mellon Corp now owns 4,096,211 shares of the company’s stock valued at $2,881,806,000 after buying an additional 14,001 shares in the last quarter. CIBC World Markets Inc. boosted its position in shares of Alphabet by 33.9% in the third quarter. CIBC World Markets Inc. now owns 43,753 shares of the company’s stock valued at $35,180,000 after buying an additional 11,065 shares in the last quarter. Nwam LLC boosted its position in shares of Alphabet by 6.5% in the third quarter. Nwam LLC now owns 1,710 shares of the company’s stock valued at $1,375,000 after buying an additional 104 shares in the last quarter. Nationwide Fund Advisors boosted its position in shares of Alphabet by 1.4% in the third quarter. Nationwide Fund Advisors now owns 293,906 shares of the company’s stock valued at $236,318,000 after buying an additional 3,966 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. boosted its position in shares of Alphabet by 4.5% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 31,552 shares of the company’s stock valued at $22,198,000 after buying an additional 1,348 shares in the last quarter. 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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