Alphabet (NASDAQ:GOOGL) had its price objective cut by Credit Suisse Group from $1,450.00 to $1,400.00 in a report issued on Tuesday morning, The Fly reports. They currently have an outperform rating on the information services provider’s stock.
Other equities research analysts have also issued research reports about the company. Nomura dropped their target price on Alphabet from $1,350.00 to $1,310.00 and set a buy rating on the stock in a research report on Tuesday. Citigroup decreased their price target on Alphabet from $1,350.00 to $1,325.00 and set a buy rating for the company in a report on Tuesday. BMO Capital Markets decreased their price target on Alphabet to $1,100.00 and set a market perform rating for the company in a report on Tuesday. They noted that the move was a valuation call. Royal Bank of Canada decreased their price target on Alphabet to $1,300.00 and set an outperform rating for the company in a report on Tuesday. Finally, Barclays reissued an overweight rating on shares of Alphabet in a report on Tuesday. Two equities research analysts have rated the stock with a hold rating and thirty-one have issued a buy rating to the stock. Alphabet currently has a consensus rating of Buy and an average price target of $1,320.71.
Shares of GOOGL stock traded down $11.77 during trading hours on Tuesday, reaching $1,140.10. 29,272 shares of the company’s stock were exchanged, compared to its average volume of 1,603,400. Alphabet has a 1 year low of $977.66 and a 1 year high of $1,291.44. The firm has a market capitalization of $794.29 billion, a price-to-earnings ratio of 24.00, a PEG ratio of 1.34 and a beta of 1.05. The company has a debt-to-equity ratio of 0.02, a quick ratio of 4.10 and a current ratio of 4.14.
Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Monday, February 4th. The information services provider reported $12.77 earnings per share for the quarter, topping the Zacks’ consensus estimate of $11.08 by $1.69. The business had revenue of $31.84 billion for the quarter, compared to analyst estimates of $31.28 billion. Alphabet had a return on equity of 20.34% and a net margin of 22.47%. During the same quarter in the previous year, the firm earned $9.70 earnings per share. As a group, equities analysts forecast that Alphabet will post 47.17 earnings per share for the current year.
A number of institutional investors have recently added to or reduced their stakes in the stock. Oregon Public Employees Retirement Fund grew its stake in shares of Alphabet by 103,543.8% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 54,899,064 shares of the information services provider’s stock valued at $53,000 after purchasing an additional 54,846,095 shares during the last quarter. Vestor Capital LLC purchased a new position in shares of Alphabet in the 3rd quarter valued at approximately $62,000. Lavaca Capital LLC purchased a new position in shares of Alphabet in the 4th quarter valued at approximately $97,000. Sound Income Strategies LLC grew its stake in shares of Alphabet by 71.4% in the 4th quarter. Sound Income Strategies LLC now owns 96 shares of the information services provider’s stock valued at $100,000 after purchasing an additional 40 shares during the last quarter. Finally, Quantamental Technologies LLC purchased a new position in shares of Alphabet in the 4th quarter valued at approximately $103,000. 33.41% of the stock is currently owned by hedge funds and other institutional investors.
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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