Alphabet Inc. (NASDAQ:GOOGL – Get Free Report) has earned a consensus recommendation of “Moderate Buy” from the forty-eight research firms that are presently covering the firm, Marketbeat.com reports. Ten equities research analysts have rated the stock with a hold rating, thirty-four have given a buy rating and four have given a strong buy rating to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $247.4048.
A number of analysts recently weighed in on the stock. Wolfe Research raised their price target on shares of Alphabet from $220.00 to $290.00 in a report on Tuesday, September 30th. Phillip Securities lowered Alphabet from a “strong-buy” rating to a “moderate buy” rating in a research report on Monday, September 8th. Citigroup upped their price target on Alphabet from $225.00 to $280.00 and gave the company a “buy” rating in a research note on Monday, September 15th. Royal Bank Of Canada upped their price target on Alphabet from $220.00 to $260.00 and gave the company an “outperform” rating in a research note on Wednesday, September 3rd. Finally, BNP Paribas Exane reissued a “neutral” rating and set a $172.00 price objective on shares of Alphabet in a report on Friday, June 27th.
Read Our Latest Report on Alphabet
Insider Buying and Selling at Alphabet
Hedge Funds Weigh In On Alphabet
Several institutional investors have recently modified their holdings of GOOGL. Vanguard Group Inc. boosted its stake in Alphabet by 1.3% during the 2nd quarter. Vanguard Group Inc. now owns 516,559,609 shares of the information services provider’s stock worth $91,033,300,000 after acquiring an additional 6,733,278 shares during the last quarter. State Street Corp raised its holdings in Alphabet by 1.8% in the second quarter. State Street Corp now owns 229,954,269 shares of the information services provider’s stock worth $40,524,841,000 after purchasing an additional 4,008,374 shares during the period. Geode Capital Management LLC increased its position in shares of Alphabet by 3.1% in the 2nd quarter. Geode Capital Management LLC now owns 141,615,284 shares of the information services provider’s stock valued at $24,857,017,000 after buying an additional 4,224,497 shares in the last quarter. Norges Bank bought a new stake in shares of Alphabet in the 2nd quarter valued at $21,944,208,000. Finally, Invesco Ltd. increased its position in shares of Alphabet by 1.2% in the 2nd quarter. Invesco Ltd. now owns 44,151,820 shares of the information services provider’s stock valued at $7,780,875,000 after buying an additional 503,306 shares in the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.
Alphabet Stock Up 3.2%
Shares of NASDAQ GOOGL opened at $244.15 on Tuesday. The firm’s 50-day simple moving average is $227.30 and its 200 day simple moving average is $189.47. The company has a market cap of $2.95 trillion, a price-to-earnings ratio of 26.00, a price-to-earnings-growth ratio of 1.60 and a beta of 1.00. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. Alphabet has a 12-month low of $140.53 and a 12-month high of $256.00.
Alphabet (NASDAQ:GOOGL – Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.15 by $0.16. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The business had revenue of $96.43 billion for the quarter, compared to the consensus estimate of $93.60 billion. On average, research analysts expect that Alphabet will post 8.9 earnings per share for the current fiscal year.
Alphabet Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Monday, September 8th were given a dividend of $0.21 per share. The ex-dividend date was Monday, September 8th. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. Alphabet’s payout ratio is currently 8.95%.
Alphabet Company Profile
Alphabet Inc offers various products and platforms in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment provides products and services, including ads, Android, Chrome, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.
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