Alphabet (NASDAQ:GOOGL) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Monday. The firm presently has a $1,330.00 price target on the information services provider’s stock. Zacks Investment Research‘s price objective would indicate a potential upside of 12.96% from the stock’s previous close.

According to Zacks, “Alphabet's stock has outperformed the industry it belongs to on a 12-month basis. Alphabet's strong advertising revenues and improving paid click growth remain the growth drivers. Its focus on innovation, AI, cloud, home automation space, strategic acquisitions and Android OS should continue to generate strong cash flows. Alphabet has shown good execution to date, more or less maintaining its dominant share in a competitive, fast-growing search market. Its diversification strategy is also positive, but requires significant investment and involves uncertain payback periods, particularly since these efforts are at the cutting edge of technology.  However, increasing litigation issues could continue to impact the company’s profits.”

A number of other brokerages also recently weighed in on GOOGL. Morgan Stanley reiterated an “overweight” rating on shares of Alphabet in a report on Friday, January 26th. Monness Crespi & Hardt reiterated a “buy” rating and issued a $1,250.00 price target (up from $1,120.00) on shares of Alphabet in a report on Monday. Vetr downgraded Alphabet from a “buy” rating to a “hold” rating and set a $1,212.65 price target for the company. in a report on Tuesday, January 23rd. KeyCorp reiterated an “overweight” rating and issued a $1,280.00 price target (up from $1,150.00) on shares of Alphabet in a report on Friday, January 19th. Finally, SunTrust Banks lowered their price target on Alphabet from $1,250.00 to $1,180.00 in a report on Monday, January 15th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, forty-one have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $1,118.74.

Shares of Alphabet (NASDAQ:GOOGL) opened at $1,177.37 on Monday. The company has a current ratio of 5.77, a quick ratio of 5.73 and a debt-to-equity ratio of 0.03. Alphabet has a twelve month low of $812.05 and a twelve month high of $1,198.00. The stock has a market capitalization of $814,260.00, a P/E ratio of 39.22, a price-to-earnings-growth ratio of 1.55 and a beta of 0.90.

A number of hedge funds have recently made changes to their positions in the business. First Bank & Trust boosted its position in Alphabet by 0.3% during 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 during the period. Fort Pitt Capital Group LLC boosted its position in Alphabet by 0.3% during 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 during the period. Town & Country Bank & Trust CO dba First Bankers Trust CO boosted its position in Alphabet by 0.7% during 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 during the period. Probity Advisors Inc. boosted its position in Alphabet by 1.1% during the 2nd quarter. Probity Advisors Inc. now owns 270 shares of the information services provider’s stock worth $251,000 after acquiring an additional 3 shares during the period. Finally, Glassman Wealth Services boosted its position in Alphabet by 0.8% during the 2nd quarter. Glassman Wealth Services now owns 376 shares of the information services provider’s stock worth $350,000 after acquiring an additional 3 shares during the period. Institutional investors own 33.63% of the company’s stock.

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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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