Alphabet Inc (NASDAQ:GOOGL) has been given a consensus rating of “Buy” by the thirty-three research firms that are presently covering the stock, MarketBeat reports. Five analysts have rated the stock with a hold rating and twenty-eight have given a buy rating to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $1,325.09.
GOOGL has been the subject of several recent research reports. Nomura reduced their target price on shares of Alphabet from $1,310.00 to $1,300.00 and set a “buy” rating for the company in a report on Tuesday, April 30th. Stifel Nicolaus cut shares of Alphabet from a “buy” rating to a “hold” rating and set a $1,287.00 target price for the company. in a report on Tuesday, April 30th. BMO Capital Markets increased their target price on shares of Alphabet from $1,100.00 to $1,200.00 and gave the stock a “market perform” rating in a report on Thursday, April 25th. They noted that the move was a valuation call. JMP Securities restated an “outperform” rating and set a $1,375.00 target price (up previously from $1,300.00) on shares of Alphabet in a report on Tuesday, April 30th. Finally, Argus restated a “buy” rating and set a $1,450.00 target price on shares of Alphabet in a report on Wednesday, May 1st.
A number of hedge funds have recently made changes to their positions in the business. MARSHALL WACE ASIA Ltd increased its position in Alphabet by 2,089.3% during the third quarter. MARSHALL WACE ASIA Ltd now owns 97,141 shares of the information services provider’s stock worth $117,257,000 after acquiring an additional 92,704 shares during the period. CX Institutional increased its position in Alphabet by 93.1% during the fourth quarter. CX Institutional now owns 112 shares of the information services provider’s stock worth $117,000 after acquiring an additional 54 shares during the period. Ontario Teachers Pension Plan Board increased its position in Alphabet by 66.2% during the third quarter. Ontario Teachers Pension Plan Board now owns 76,862 shares of the information services provider’s stock worth $92,779,000 after acquiring an additional 30,611 shares during the period. Dfpg Investments Inc. bought a new position in Alphabet during the fourth quarter worth about $428,000. Finally, Leavell Investment Management Inc. increased its position in Alphabet by 3.8% during the third quarter. Leavell Investment Management Inc. now owns 1,355 shares of the information services provider’s stock worth $1,636,000 after acquiring an additional 50 shares during the period. Hedge funds and other institutional investors own 34.04% of the company’s stock.
Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Monday, April 29th. The information services provider reported $11.90 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $10.56 by $1.34. The company had revenue of $29.48 billion during the quarter, compared to analysts’ expectations of $29.99 billion. Alphabet had a net margin of 19.71% and a return on equity of 20.06%. During the same quarter in the prior year, the company earned $13.33 earnings per share. Equities analysts anticipate that Alphabet will post 48.6 EPS for the current fiscal year.
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.
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