Barclays Cuts Alphabet (GOOGL) Price Target to $1,250.00

Alphabet (NASDAQ:GOOGL) had its target price reduced by analysts at Barclays to $1,250.00 in a research note issued to investors on Tuesday, The Fly reports. The firm presently has an “overweight” rating on the information services provider’s stock. Barclays’ target price points to a potential upside of 16.41% from the company’s current price.

Several other analysts have also recently issued reports on the company. Zacks Investment Research raised Alphabet from a “hold” rating to a “buy” rating and set a $1,199.00 target price on the stock in a research report on Tuesday, December 26th. SunTrust Banks dropped their target price on Alphabet from $1,250.00 to $1,180.00 in a research report on Monday, January 15th. Monness Crespi & Hardt reaffirmed a “buy” rating and set a $1,250.00 target price (up previously from $1,120.00) on shares of Alphabet in a research report on Monday, January 29th. Cowen increased their target price on Alphabet from $1,150.00 to $1,230.00 and gave the company an “outperform” rating in a research report on Thursday, January 4th. Finally, B. Riley increased their target price on Alphabet from $1,200.00 to $1,375.00 and gave the company a “buy” rating in a research report on Tuesday, January 30th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating, thirty-seven have issued a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $1,179.54.

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Shares of NASDAQ GOOGL opened at $1,073.81 on Tuesday. The company has a current ratio of 5.14, a quick ratio of 5.11 and a debt-to-equity ratio of 0.03. The firm has a market cap of $748,503.63, a price-to-earnings ratio of 33.50, a P/E/G ratio of 1.15 and a beta of 1.05. Alphabet has a 12-month low of $866.11 and a 12-month high of $1,198.00.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Monday, April 23rd. The information services provider reported $13.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $9.30 by $4.03. Alphabet had a return on equity of 14.94% and a net margin of 11.42%. During the same quarter in the previous year, the firm posted $7.73 EPS. equities research analysts expect that Alphabet will post 41.16 EPS for the current year.

Alphabet declared that its board has authorized a share buyback plan on Thursday, February 1st that authorizes the company to buyback $8.59 billion in shares. This buyback authorization authorizes the information services provider to buy shares of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board believes its stock is undervalued.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. ADAMCAPITAL Gestao de Recursos Ltda. purchased a new position in shares of Alphabet during the 4th quarter valued at about $134,031,000. Cambridge Investment Research Advisors Inc. raised its stake in shares of Alphabet by 6.5% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 25,394 shares of the information services provider’s stock valued at $26,750,000 after buying an additional 1,549 shares during the last quarter. Ackerman Capital Advisors LLC purchased a new position in shares of Alphabet during the 4th quarter valued at about $526,000. OTA Financial Group L.P. purchased a new position in shares of Alphabet during the 4th quarter valued at about $16,580,000. Finally, Wagner Wealth Management LLC purchased a new position in shares of Alphabet during the 4th quarter valued at about $435,000. Institutional investors and hedge funds own 34.41% of the company’s stock.

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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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