Alphabet (NASDAQ:GOOGL) PT Raised to $1,725.00

Alphabet (NASDAQ:GOOGL) had its price objective hoisted by equities research analysts at Pivotal Research from $1,575.00 to $1,725.00 in a research report issued to clients and investors on Friday, The Fly reports. The brokerage currently has a “buy” rating on the information services provider’s stock. Pivotal Research’s price target would indicate a potential upside of 15.93% from the company’s current price.

GOOGL has been the topic of a number of other reports. JPMorgan Chase & Co. lifted their price objective on shares of Alphabet from $1,340.00 to $1,505.00 and gave the company an “overweight” rating in a research note on Wednesday, April 29th. BMO Capital Markets lifted their price objective on shares of Alphabet from $1,550.00 to $1,750.00 and gave the company an “outperform” rating in a research note on Wednesday. JMP Securities lifted their price objective on shares of Alphabet from $1,350.00 to $1,500.00 and gave the company an “outperform” rating in a research note on Wednesday, April 29th. Oppenheimer restated a “buy” rating and set a $1,445.00 price objective on shares of Alphabet in a research note on Wednesday, April 29th. Finally, MKM Partners boosted their price target on shares of Alphabet from $1,500.00 to $1,700.00 in a research report on Monday, July 27th. Four analysts have rated the stock with a hold rating and forty have given a buy rating to the company’s stock. Alphabet presently has a consensus rating of “Buy” and a consensus price target of $1,657.51.

Shares of GOOGL traded down $50.42 during midday trading on Friday, hitting $1,487.95. 4,576,382 shares of the stock traded hands, compared to its average volume of 1,580,507. Alphabet has a 1-year low of $1,008.87 and a 1-year high of $1,587.05. The firm has a market capitalization of $1,015.70 billion, a PE ratio of 32.72, a price-to-earnings-growth ratio of 2.27 and a beta of 1.06. The company has a debt-to-equity ratio of 0.08, a quick ratio of 3.64 and a current ratio of 3.66. The business’s 50 day moving average price is $1,473.93 and its two-hundred day moving average price is $1,375.65.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Thursday, July 30th. The information services provider reported $10.13 earnings per share for the quarter, beating analysts’ consensus estimates of $8.43 by $1.70. Alphabet had a net margin of 18.99% and a return on equity of 15.77%. The business had revenue of $31.60 billion for the quarter, compared to analysts’ expectations of $30.58 billion. As a group, equities research analysts forecast that Alphabet will post 42.07 EPS for the current fiscal year.

A number of large investors have recently added to or reduced their stakes in GOOGL. Spence Asset Management grew its stake in shares of Alphabet by 45.5% in the 1st quarter. Spence Asset Management now owns 32 shares of the information services provider’s stock valued at $37,000 after buying an additional 10 shares in the last quarter. OmniStar Financial Group Inc. bought a new stake in shares of Alphabet in the 1st quarter valued at approximately $44,000. Cedar Mountain Advisors LLC grew its stake in shares of Alphabet by 26.9% in the 2nd quarter. Cedar Mountain Advisors LLC now owns 33 shares of the information services provider’s stock valued at $47,000 after buying an additional 7 shares in the last quarter. Center for Financial Planning Inc. grew its stake in shares of Alphabet by 35.5% in the 1st quarter. Center for Financial Planning Inc. now owns 42 shares of the information services provider’s stock valued at $49,000 after buying an additional 11 shares in the last quarter. Finally, Danda Trouve Investment Management Inc. grew its stake in shares of Alphabet by 42.9% in the 1st quarter. Danda Trouve Investment Management Inc. now owns 50 shares of the information services provider’s stock valued at $58,000 after buying an additional 15 shares in the last quarter. 34.14% of the stock is currently owned by institutional investors.

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.

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