Alphabet (NASDAQ:GOOGL) had its target price upped by stock analysts at MKM Partners from $1,210.00 to $1,355.00 in a report released on Wednesday. The firm currently has a “buy” rating on the information services provider’s stock. MKM Partners’ target price indicates a potential upside of 22.78% from the company’s current price.
Several other research analysts also recently weighed in on GOOGL. Zacks Investment Research downgraded shares of Alphabet from a “buy” rating to a “hold” rating in a research report on Wednesday, January 17th. William Blair restated an “outperform” rating on shares of Alphabet in a research report on Thursday, February 1st. Vetr upgraded shares of Alphabet from a “buy” rating to a “strong-buy” rating and set a $1,243.88 price target for the company in a research report on Monday, February 5th. Stifel Nicolaus downgraded shares of Alphabet from a “buy” rating to a “hold” rating and set a $1,150.00 price target for the company. in a research report on Friday, February 2nd. Finally, Cantor Fitzgerald restated a “buy” rating and set a $1,100.00 price target on shares of Alphabet in a research report on Tuesday, October 24th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, thirty-nine have issued a buy rating and one has given a strong buy rating to the stock. Alphabet presently has an average rating of “Buy” and a consensus target price of $1,160.31.
Shares of Alphabet (NASDAQ GOOGL) traded up $8.09 during mid-day trading on Wednesday, hitting $1,103.59. The stock had a trading volume of 1,687,600 shares, compared to its average volume of 2,096,942. The firm has a market capitalization of $766,670.00, a P/E ratio of 34.38, a PEG ratio of 1.13 and a beta of 0.95. The company has a debt-to-equity ratio of 0.03, a quick ratio of 5.11 and a current ratio of 5.14. Alphabet has a 1-year low of $824.30 and a 1-year high of $1,198.00.
Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Thursday, February 1st. The information services provider reported $9.70 earnings per share for the quarter, missing analysts’ consensus estimates of $10.12 by ($0.42). Alphabet had a net margin of 11.42% and a return on equity of 14.94%. The company had revenue of $25.87 billion for the quarter, compared to analysts’ expectations of $25.65 billion. sell-side analysts forecast that Alphabet will post 42.52 earnings per share for the current year.
Alphabet declared that its board has authorized 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 buy shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its stock is undervalued.
Large investors have recently bought and sold shares of the stock. Magellan Asset Management Ltd increased its stake in Alphabet by 700.9% in the fourth quarter. Magellan Asset Management Ltd now owns 2,126,562 shares of the information services provider’s stock valued at $2,225,234,000 after purchasing an additional 1,861,056 shares during the period. Koch Industries Inc. lifted its holdings in shares of Alphabet by 181,219.4% in the second quarter. Koch Industries Inc. now owns 1,086,103 shares of the information services provider’s stock valued at $1,085,000 after purchasing an additional 1,085,504 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Alphabet by 3.3% in the second quarter. Vanguard Group Inc. now owns 20,570,476 shares of the information services provider’s stock valued at $19,123,960,000 after purchasing an additional 662,279 shares in the last quarter. BlackRock Inc. lifted its holdings in shares of Alphabet by 3.1% in the second quarter. BlackRock Inc. now owns 18,633,934 shares of the information services provider’s stock valued at $17,323,595,000 after purchasing an additional 567,337 shares in the last quarter. Finally, California Public Employees Retirement System lifted its holdings in shares of Alphabet by 54.9% in the fourth quarter. California Public Employees Retirement System now owns 1,055,580 shares of the information services provider’s stock valued at $1,111,948,000 after purchasing an additional 374,121 shares in the last quarter. 33.29% of the stock is owned by hedge funds and other institutional investors.
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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.
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