Alphabet (GOOGL) PT Raised to $1,360.00

Alphabet (NASDAQ:GOOGL) had its target price increased by investment analysts at Aegis from $1,350.00 to $1,360.00 in a report issued on Thursday, Marketbeat reports. The firm presently has a “buy” rating on the information services provider’s stock. Aegis’ price target would suggest a potential upside of 27.15% from the company’s current price.

Several other equities analysts have also commented on the company. William Blair reaffirmed an “outperform” rating on shares of Alphabet in a report on Thursday, February 1st. KeyCorp reaffirmed an “overweight” rating and set a $1,230.00 target price (down from $1,280.00) on shares of Alphabet in a report on Tuesday, April 24th. Canaccord Genuity reaffirmed a “hold” rating on shares of Alphabet in a report on Tuesday, April 24th. Stifel Nicolaus lowered Alphabet from a “buy” rating to a “hold” rating and set a $1,150.00 target price for the company. in a report on Friday, February 2nd. Finally, Vetr raised Alphabet from a “buy” rating to a “strong-buy” rating and set a $1,156.80 target price for the company in a report on Tuesday, April 10th. Five research analysts have rated the stock with a hold rating, thirty-eight have given a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $1,201.44.

Shares of Alphabet opened at $1,069.64 on Thursday, according to Marketbeat. Alphabet has a 52-week low of $915.31 and a 52-week high of $1,198.00. The company has a market cap of $751.42 billion, a price-to-earnings ratio of 33.37, a PEG ratio of 1.54 and a beta of 1.05. The company has a debt-to-equity ratio of 0.02, a quick ratio of 4.85 and a current ratio of 4.87.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Monday, April 23rd. The information services provider reported $9.93 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $9.21 by $0.72. Alphabet had a return on equity of 15.58% and a net margin of 14.19%. The firm had revenue of $24.86 billion for the quarter, compared to analysts’ expectations of $24.20 billion. During the same quarter in the prior year, the firm posted $7.73 earnings per share. equities research analysts predict that Alphabet will post 40.75 EPS for the current fiscal year.

Alphabet announced that its Board of Directors has approved a share repurchase 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 reacquire shares of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board believes its shares are undervalued.

Large investors have recently made changes to their positions in the company. Well Done LLC acquired a new stake in shares of Alphabet during the 1st quarter valued at $107,000. Vestpro Financial Partners Inc. dba CPF Texas purchased a new stake in shares of Alphabet in the fourth quarter valued at $108,000. Westchester Capital Management Inc. lifted its holdings in shares of Alphabet by 1,262.5% in the first quarter. Westchester Capital Management Inc. now owns 109 shares of the information services provider’s stock valued at $113,000 after purchasing an additional 101 shares in the last quarter. Stuart Chaussee & Associates Inc. purchased a new stake in shares of Alphabet in the fourth quarter valued at $123,000. Finally, KHP Capital LLC purchased a new stake in shares of Alphabet in the first quarter valued at $124,000. Institutional investors own 34.38% of the company’s stock.

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.

Analyst Recommendations for Alphabet (NASDAQ:GOOGL)

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