Alphabet (NASDAQ:GOOGL) had its price objective hoisted by Wedbush from $1,550.00 to $1,700.00 in a note issued to investors on Friday, Briefing.com Automated Import reports. The brokerage currently has an “outperform” rating on the information services provider’s stock. Wedbush’s price target would suggest a potential upside of 14.25% from the company’s previous close.

Other equities research analysts have also issued reports about the stock. JPMorgan Chase & Co. increased their target price on shares of Alphabet from $1,340.00 to $1,505.00 and gave the stock an “overweight” rating in a report on Wednesday, April 29th. Mizuho lifted their target price on Alphabet from $1,650.00 to $1,750.00 and gave the stock a “buy” rating in a report on Tuesday, July 21st. Nomura Instinet increased their price target on Alphabet from $1,680.00 to $1,700.00 and gave the stock a “buy” rating in a report on Wednesday, April 29th. Societe Generale cut their price objective on Alphabet from $1,555.00 to $1,420.00 and set a “buy” rating on the stock in a report on Wednesday, April 8th. They noted that the move was a valuation call. Finally, Robert W. Baird increased their target price on Alphabet from $1,500.00 to $1,650.00 in a research note on Thursday, June 25th. Four investment analysts have rated the stock with a hold rating and forty have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $1,657.51.

NASDAQ GOOGL opened at $1,487.95 on Friday. Alphabet has a 12 month low of $1,008.87 and a 12 month high of $1,587.05. The stock has a 50-day simple moving average of $1,473.93 and a 200 day simple moving average of $1,375.65. The company has a current ratio of 3.66, a quick ratio of 3.64 and a debt-to-equity ratio of 0.08. The company has a market capitalization of $1,015.70 billion, a PE ratio of 32.72, a P/E/G ratio of 2.27 and a beta of 1.06.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Thursday, July 30th. The information services provider reported $10.13 EPS for the quarter, beating analysts’ consensus estimates of $8.43 by $1.70. Alphabet had a return on equity of 15.77% and a net margin of 18.99%. The company had revenue of $31.60 billion during the quarter, compared to analysts’ expectations of $30.58 billion. As a group, sell-side analysts predict that Alphabet will post 42.07 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently modified their holdings of GOOGL. Wintrust Investments LLC raised its stake in Alphabet by 13.3% in the 1st quarter. Wintrust Investments LLC now owns 978 shares of the information services provider’s stock valued at $1,136,000 after acquiring an additional 115 shares during the period. Optimum Investment Advisors boosted its position in Alphabet by 4.1% during the first quarter. Optimum Investment Advisors now owns 538 shares of the information services provider’s stock worth $625,000 after purchasing an additional 21 shares during the period. Harwood Advisory Group LLC increased its holdings in shares of Alphabet by 32.1% in the first quarter. Harwood Advisory Group LLC now owns 420 shares of the information services provider’s stock valued at $487,000 after purchasing an additional 102 shares during the last quarter. Old North State Trust LLC raised its position in shares of Alphabet by 36.1% in the first quarter. Old North State Trust LLC now owns 132 shares of the information services provider’s stock valued at $153,000 after purchasing an additional 35 shares during the period. Finally, J. L. Bainbridge & Co. Inc. lifted its stake in shares of Alphabet by 2.5% during the 1st quarter. J. L. Bainbridge & Co. Inc. now owns 14,100 shares of the information services provider’s stock worth $16,383,000 after buying an additional 338 shares during the last quarter. Institutional investors own 34.14% of the company’s stock.

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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Analyst Recommendations for Alphabet (NASDAQ:GOOGL)

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