Alphabet (NASDAQ:GOOGL)‘s stock had its “outperform” rating reissued by investment analysts at Credit Suisse Group in a research note issued on Friday.
A number of other research analysts also recently commented on GOOGL. Zacks Investment Research raised Alphabet from a “hold” rating to a “buy” rating and set a $1,199.00 price target for the company in a report on Tuesday, December 26th. Vetr raised Alphabet from a “hold” rating to a “buy” rating and set a $1,120.76 price target for the company in a report on Tuesday, December 26th. Robert W. Baird reissued a “buy” rating and issued a $1,150.00 price target on shares of Alphabet in a report on Tuesday, January 2nd. Cowen increased their price target on Alphabet from $1,150.00 to $1,230.00 and gave the company an “outperform” rating in a report on Thursday, January 4th. Finally, SunTrust Banks reissued a “buy” rating and issued a $1,250.00 price target on shares of Alphabet in a report on Friday, January 12th. Two analysts have rated the stock with a sell rating, five have issued a hold rating, thirty-eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. Alphabet currently has an average rating of “Buy” and an average target price of $1,172.65.
Shares of NASDAQ GOOGL opened at $1,077.32 on Friday. Alphabet has a 1-year low of $857.73 and a 1-year high of $1,198.00. The company has a quick ratio of 5.11, a current ratio of 5.14 and a debt-to-equity ratio of 0.03. The stock has a market capitalization of $756,931.31, a PE ratio of 33.61, a P/E/G ratio of 1.16 and a beta of 1.05.
Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Thursday, February 1st. The information services provider reported $9.70 EPS for the quarter, missing analysts’ consensus estimates of $10.12 by ($0.42). The business had revenue of $25.87 billion during the quarter, compared to analysts’ expectations of $25.65 billion. Alphabet had a net margin of 11.42% and a return on equity of 14.94%. research analysts anticipate that Alphabet will post 41.18 EPS for the current fiscal year.
Alphabet announced that its board has approved a stock repurchase plan on Thursday, February 1st that allows the company to repurchase $8.59 billion in outstanding shares. This repurchase authorization allows the information services provider to repurchase shares of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.
A number of institutional investors and hedge funds have recently bought and sold shares of GOOGL. Vanguard Group Inc. boosted its stake in Alphabet by 3.3% during the 2nd 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. boosted its stake in Alphabet by 3.1% during the 2nd 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. FMR LLC boosted its stake in Alphabet by 2.1% during the 2nd quarter. FMR LLC now owns 17,647,327 shares of the information services provider’s stock valued at $16,406,366,000 after purchasing an additional 367,634 shares in the last quarter. Capital Research Global Investors boosted its stake in Alphabet by 2.4% during the 2nd quarter. Capital Research Global Investors now owns 4,308,195 shares of the information services provider’s stock valued at $4,005,243,000 after purchasing an additional 102,133 shares in the last quarter. Finally, Capital World Investors boosted its stake in Alphabet by 7.8% during the 2nd quarter. Capital World Investors now owns 3,879,982 shares of the information services provider’s stock valued at $3,607,142,000 after purchasing an additional 280,710 shares in the last quarter. Hedge funds and other institutional investors own 34.38% 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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