Alphabet Inc. (GOOGL) Receives $1,206.81 Consensus Target Price from Analysts

Alphabet Inc. (NASDAQ:GOOGL) has earned an average rating of “Buy” from the forty-five research firms that are presently covering the firm, Marketbeat.com reports. Five research analysts have rated the stock with a hold rating, thirty-four have assigned a buy rating and one has given a strong buy rating to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $1,207.09.

A number of analysts have weighed in on GOOGL shares. Vetr cut Alphabet from a “buy” rating to a “hold” rating and set a $1,212.65 price target for the company. in a research report on Tuesday, January 23rd. Morgan Stanley reissued an “overweight” rating and set a $1,215.00 price objective (up previously from $1,210.00) on shares of Alphabet in a research report on Friday, January 26th. Monness Crespi & Hardt reissued a “buy” rating and set a $1,250.00 price objective (up previously from $1,120.00) on shares of Alphabet in a research report on Monday, January 29th. Zacks Investment Research raised Alphabet from a “hold” rating to a “buy” rating and set a $1,330.00 price objective for the company in a research report on Monday, January 29th. Finally, Deutsche Bank reissued a “buy” rating and set a $1,400.00 price objective on shares of Alphabet in a research report on Monday, January 29th.

Shares of NASDAQ:GOOGL traded down $11.62 on Thursday, reaching $1,069.64. The company had a trading volume of 1,774,149 shares, compared to its average volume of 2,178,055. Alphabet has a twelve month low of $915.31 and a twelve month high of $1,198.00. The stock has a market capitalization of $743.34 billion, a P/E ratio of 33.37, a P/E/G ratio of 1.53 and a beta of 1.05. The company has a debt-to-equity ratio of 0.02, a current ratio of 4.87 and a quick ratio of 4.85.

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

Alphabet announced that its board has authorized a stock repurchase plan on Thursday, February 1st that authorizes the company to repurchase $8.59 billion in outstanding shares. This repurchase authorization authorizes the information services provider to purchase shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s management believes its stock is undervalued.

Several hedge funds have recently added to or reduced their stakes in the company. Bingham Osborn & Scarborough LLC grew its position in Alphabet by 4.1% during the 4th quarter. Bingham Osborn & Scarborough LLC now owns 1,098 shares of the information services provider’s stock worth $1,157,000 after acquiring an additional 43 shares during the last quarter. Valicenti Advisory Services Inc. grew its position in Alphabet by 0.9% during the 4th quarter. Valicenti Advisory Services Inc. now owns 4,872 shares of the information services provider’s stock worth $5,132,000 after acquiring an additional 45 shares during the last quarter. Duff & Phelps Investment Management Co. grew its position in Alphabet by 1.4% during the 4th quarter. Duff & Phelps Investment Management Co. now owns 3,310 shares of the information services provider’s stock worth $3,487,000 after acquiring an additional 45 shares during the last quarter. Meridian Wealth Management LLC boosted its position in Alphabet by 4.7% in the 4th quarter. Meridian Wealth Management LLC now owns 1,046 shares of the information services provider’s stock valued at $1,039,000 after buying an additional 47 shares during the last quarter. Finally, We Are One Seven LLC boosted its position in Alphabet by 5.1% in the 1st quarter. We Are One Seven LLC now owns 975 shares of the information services provider’s stock valued at $1,011,000 after buying an additional 47 shares during the last quarter. Institutional investors own 34.38% of the company’s stock.

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.

Analyst Recommendations for Alphabet (NASDAQ:GOOGL)

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