BMO Capital Markets Reiterates Market Perform Rating for Alphabet Inc. (GOOGL)
BMO Capital Markets reiterated their market perform rating on shares of Alphabet Inc. (NASDAQ:GOOGL) in a research note published on Friday. They currently have a $970.00 price target on the information services provider’s stock.
Other equities analysts also recently issued reports about the company. Jefferies Group LLC reiterated a buy rating and set a $1,200.00 target price on shares of Alphabet in a research report on Tuesday, July 4th. Aegis reiterated a buy rating and set a $1,090.00 target price on shares of Alphabet in a research report on Monday, July 3rd. Societe Generale set a $1,210.00 target price on Alphabet and gave the company a buy rating in a research report on Friday, July 7th. They noted that the move was a valuation call. Vetr downgraded Alphabet from a strong-buy rating to a buy rating and set a $1,030.26 target price on the stock. in a research report on Wednesday, July 5th. Finally, Argus reiterated a buy rating and set a $968.72 target price (down from $1,085.00) on shares of Alphabet in a research report on Friday, July 14th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, thirty-nine have given a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of Buy and an average target price of $1,087.02.
Shares of Alphabet (GOOGL) opened at 1033.13 on Friday. Alphabet has a 1-year low of $743.59 and a 1-year high of $1,063.62. The company’s 50 day moving average price is $976.09 and its 200-day moving average price is $956.78. The company has a market capitalization of $715.83 billion, a price-to-earnings ratio of 37.44 and a beta of 0.96.
Alphabet (NASDAQ:GOOGL) last released its earnings results on Thursday, October 26th. The information services provider reported $9.57 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $8.43 by $1.14. The company had revenue of $22.27 billion for the quarter, compared to the consensus estimate of $21.94 billion. Alphabet had a return on equity of 14.26% and a net margin of 20.09%. During the same period in the previous year, the business earned $9.06 earnings per share. On average, equities analysts forecast that Alphabet will post $31.99 earnings per share for the current year.
Institutional investors have recently bought and sold shares of the business. State of Alaska Department of Revenue purchased a new stake in Alphabet during the second quarter worth $102,000. Franklin Parlapiano Turner & Welch LLC purchased a new stake in Alphabet during the first quarter worth $108,000. Parkside Financial Bank & Trust lifted its holdings in Alphabet by 39.6% during the second quarter. Parkside Financial Bank & Trust now owns 127 shares of the information services provider’s stock worth $118,000 after buying an additional 36 shares during the period. Odey Holdings AG lifted its holdings in Alphabet by 18.2% during the second quarter. Odey Holdings AG now owns 130 shares of the information services provider’s stock worth $121,000 after buying an additional 20 shares during the period. Finally, Delta Asset Management LLC TN increased its position in shares of Alphabet by 1.5% during the first 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. Institutional investors own 33.87% of the company’s stock.
Alphabet Company Profile
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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