KeyCorp Reaffirms Overweight Rating for Alphabet (GOOGL)

KeyCorp reissued their overweight rating on shares of Alphabet (NASDAQ:GOOGL) in a research report report published on Friday, January 19th, MarketBeat.com reports. KeyCorp currently has a $1,280.00 price target on the information services provider’s stock, up from their previous price target of $1,150.00.

Several other analysts have also recently commented on GOOGL. Goldman Sachs Group lifted their price target on Alphabet from $1,125.00 to $1,175.00 in a report on Friday, October 27th. SunTrust Banks lowered their price target on Alphabet from $1,250.00 to $1,180.00 in a report on Monday, January 15th. Bank of America restated a buy rating and issued a $1,100.00 price target on shares of Alphabet in a report on Tuesday, September 26th. Stifel Nicolaus restated a buy rating and issued a $1,075.00 price target on shares of Alphabet in a report on Monday, September 25th. Finally, B. Riley restated a buy rating and issued a $1,050.00 price target on shares of Alphabet in a report on Monday, September 25th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, thirty-nine have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of Buy and a consensus price target of $1,157.02.

Alphabet (NASDAQ GOOGL) traded up $18.56 during trading hours on Friday, hitting $1,072.70. The stock had a trading volume of 2,070,000 shares, compared to its average volume of 2,190,000. The firm has a market cap of $744,730.00, a P/E ratio of 59.73, a PEG ratio of 1.09 and a beta of 0.95. The company has a quick ratio of 5.11, a current ratio of 5.14 and a debt-to-equity ratio of 0.03. Alphabet has a fifty-two week low of $824.30 and a fifty-two week high of $1,198.00.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Thursday, February 1st. The information services provider reported $9.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $10.12 by ($0.42). The firm had revenue of $25.87 billion for the quarter, compared to analyst estimates of $25.65 billion. Alphabet had a return on equity of 14.94% and a net margin of 11.42%. equities analysts forecast that Alphabet will post 42.51 EPS for the current year.

Alphabet declared that its Board of Directors has approved a share buyback program on Thursday, February 1st that authorizes the company to buyback $8.59 billion in shares. This buyback authorization authorizes the information services provider to repurchase shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Several large investors have recently added to or reduced their stakes in GOOGL. Pure Financial Advisors Inc. lifted its holdings in shares of Alphabet by 0.4% during the second quarter. Pure Financial Advisors Inc. now owns 278 shares of the information services provider’s stock valued at $258,000 after purchasing an additional 1 shares during the last quarter. First Bank & Trust lifted its stake in Alphabet by 0.3% in the 2nd quarter. First Bank & Trust now owns 764 shares of the information services provider’s stock worth $710,000 after acquiring an additional 2 shares in the last quarter. Fort Pitt Capital Group LLC lifted its stake in Alphabet by 0.3% in the 2nd quarter. Fort Pitt Capital Group LLC now owns 723 shares of the information services provider’s stock worth $672,000 after acquiring an additional 2 shares in the last quarter. RB Capital Management LLC lifted its stake in Alphabet by 0.4% in the 2nd quarter. RB Capital Management LLC now owns 704 shares of the information services provider’s stock worth $654,000 after acquiring an additional 3 shares in the last quarter. Finally, Town & Country Bank & Trust CO dba First Bankers Trust CO lifted its stake in Alphabet by 0.7% in the 2nd quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 422 shares of the information services provider’s stock worth $392,000 after acquiring an additional 3 shares in the last quarter. 33.60% of the stock is owned by institutional investors.

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About Alphabet

Alphabet Inc is a holding company. The Company’s businesses include Google Inc (Google) and its Internet products, such as Access, Calico, CapitalG, GV, Nest, Verily, Waymo and X. The Company’s segments include Google and Other Bets. The Google segment includes its Internet products, such as Search, Ads, Commerce, Maps, YouTube, Google Cloud, Android, Chrome and Google Play, as well as its hardware initiatives.

Analyst Recommendations for Alphabet (NASDAQ:GOOGL)

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