KeyCorp Raises Alphabet (NASDAQ:GOOGL) Price Target to $1,769.00

Alphabet (NASDAQ:GOOGL) had its price target increased by KeyCorp from $1,546.00 to $1,769.00 in a research report report published on Friday, BenzingaRatingsTable reports. KeyCorp currently has an overweight rating on the information services provider’s stock.

Several other research firms have also commented on GOOGL. Loop Capital raised their price objective on shares of Alphabet to $1,450.00 and gave the company a hold rating in a research note on Monday, November 11th. They noted that the move was a valuation call. Citigroup reissued a buy rating and issued a $1,500.00 price objective (up previously from $1,450.00) on shares of Alphabet in a research note on Tuesday, December 3rd. Monness Crespi & Hardt set a $1,360.00 price objective on shares of Alphabet and gave the company a buy rating in a research note on Monday, October 21st. BMO Capital Markets set a $1,245.00 price objective on shares of Alphabet and gave the company a hold rating in a research note on Friday, October 25th. Finally, UBS Group raised their price objective on shares of Alphabet from $1,460.00 to $1,675.00 and gave the company a buy rating in a research note on Friday, January 17th. Six analysts have rated the stock with a hold rating and forty have assigned a buy rating to the company. Alphabet has an average rating of Buy and an average price target of $1,470.49.

GOOGL stock traded down $39.39 during mid-day trading on Friday, hitting $1,426.78. 523,376 shares of the company were exchanged, compared to its average volume of 1,392,473. The company has a quick ratio of 3.75, a current ratio of 3.78 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $1,011.20 billion, a P/E ratio of 30.62, a PEG ratio of 1.60 and a beta of 1.01. The business has a fifty day simple moving average of $1,387.05 and a 200-day simple moving average of $1,264.90. Alphabet has a 12-month low of $1,027.03 and a 12-month high of $1,500.58.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Monday, October 28th. The information services provider reported $10.12 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $12.42 by ($2.30). Alphabet had a return on equity of 18.34% and a net margin of 21.04%. The company had revenue of $33.01 billion for the quarter, compared to analysts’ expectations of $32.84 billion. During the same period last year, the business earned $13.06 EPS. Research analysts predict that Alphabet will post 49.03 EPS for the current year.

Hedge funds have recently added to or reduced their stakes in the business. Analyst IMS Investment Management Services Ltd. increased its holdings in shares of Alphabet by 6.6% in the 4th quarter. Analyst IMS Investment Management Services Ltd. now owns 354 shares of the information services provider’s stock valued at $474,000 after acquiring an additional 22 shares during the period. Venturi Wealth Management LLC increased its holdings in shares of Alphabet by 2.0% in the 4th quarter. Venturi Wealth Management LLC now owns 2,346 shares of the information services provider’s stock valued at $3,142,000 after acquiring an additional 47 shares during the period. Arizona State Retirement System grew its position in Alphabet by 0.5% in the 4th quarter. Arizona State Retirement System now owns 59,256 shares of the information services provider’s stock valued at $79,367,000 after buying an additional 319 shares during the last quarter. TFO TDC LLC purchased a new position in Alphabet in the 4th quarter valued at $32,000. Finally, Birch Capital Management LLC purchased a new position in Alphabet in the 4th quarter valued at $236,000. 33.91% of the stock is currently owned by institutional investors.

Alphabet Company Profile

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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