Alphabet Inc. (NASDAQ:GOOGL) had its price target raised by Royal Bank Of Canada from $1,050.00 to $1,125.00 in a research report report published on Friday, MarketBeat Ratings reports. The brokerage currently has an outperform rating on the information services provider’s stock.

A number of other research analysts have also recently issued reports on GOOGL. Credit Suisse Group reissued an outperform rating on shares of Alphabet in a report on Friday, June 30th. Vetr raised Alphabet from a buy rating to a strong-buy rating and set a $1,053.55 price objective for the company in a report on Monday, July 3rd. Robert W. Baird reissued an outperform rating on shares of Alphabet in a report on Monday, July 3rd. Aegis reissued a buy rating and set a $1,090.00 price objective on shares of Alphabet in a report on Monday, July 3rd. Finally, Jefferies Group LLC reissued a buy rating and set a $1,200.00 price objective on shares of Alphabet in a report on Tuesday, July 4th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, forty have given a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus target price of $1,083.05.

Shares of Alphabet (GOOGL) traded down 0.05% during mid-day trading on Friday, hitting $1033.13. 2,248,198 shares of the company’s stock were exchanged. Alphabet has a 52 week low of $743.59 and a 52 week high of $1,063.62. The company has a market capitalization of $715.83 billion, a price-to-earnings ratio of 37.44 and a beta of 0.96. The firm has a 50 day moving average price of $973.54 and a 200-day moving average price of $953.74.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Thursday, October 26th. The information services provider reported $9.57 earnings per share for the quarter, topping the Zacks’ consensus estimate of $8.43 by $1.14. Alphabet had a net margin of 20.09% and a return on equity of 14.26%. The firm had revenue of $22.27 billion for the quarter, compared to the consensus estimate of $21.94 billion. During the same quarter in the previous year, the company earned $9.06 earnings per share. On average, equities analysts anticipate that Alphabet will post $31.99 EPS for the current year.

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Several institutional investors have recently made changes to their positions in GOOGL. State of Alaska Department of Revenue bought a new stake in shares of Alphabet during the 2nd quarter worth approximately $102,000. Franklin Parlapiano Turner & Welch LLC bought a new stake in shares of Alphabet during the 1st quarter worth approximately $108,000. Delta Asset Management LLC TN raised its stake in shares of Alphabet by 1.5% during the 1st quarter. Delta Asset Management LLC TN now owns 136 shares of the information services provider’s stock worth $116,000 after purchasing an additional 2 shares in the last quarter. Parkside Financial Bank & Trust raised its stake in shares of Alphabet by 39.6% during the 2nd quarter. Parkside Financial Bank & Trust now owns 127 shares of the information services provider’s stock worth $118,000 after purchasing an additional 36 shares in the last quarter. Finally, Odey Holdings AG raised its stake in shares of Alphabet by 18.2% during the 2nd quarter. Odey Holdings AG now owns 130 shares of the information services provider’s stock worth $121,000 after purchasing an additional 20 shares in the last quarter. Institutional investors own 33.87% of the company’s stock.

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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