Alphabet Inc. (GOOGL) Receives Consensus Recommendation of “Buy” from Analysts

Alphabet Inc. (NASDAQ:GOOGL) has earned an average recommendation of “Buy” from the fifty analysts that are presently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, eight have issued a hold recommendation, forty have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $1,058.02.

Several research analysts recently weighed in on the stock. B. Riley restated a “buy” rating and issued a $1,050.00 price objective on shares of Alphabet in a research report on Sunday, July 30th. Royal Bank Of Canada restated a “buy” rating and issued a $1,050.00 price objective on shares of Alphabet in a research report on Sunday. Cowen and Company restated an “outperform” rating and issued a $1,075.00 price objective on shares of Alphabet in a research report on Thursday, August 10th. Bank of America Corporation restated a “buy” rating and issued a $1,100.00 price objective on shares of Alphabet in a research report on Tuesday, September 26th. Finally, Wells Fargo & Company restated an “outperform” rating and issued a $1,250.00 price objective on shares of Alphabet in a research report on Wednesday, September 27th.

WARNING: “Alphabet Inc. (GOOGL) Receives Consensus Recommendation of “Buy” from Analysts” was published by The Ledger Gazette and is the property of of The Ledger Gazette. If you are reading this report on another publication, it was illegally copied and republished in violation of United States and international copyright and trademark law. The legal version of this report can be viewed at https://ledgergazette.com/2017/10/09/alphabet-inc-googl-receives-consensus-recommendation-of-buy-from-analysts.html.

A number of institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its holdings in Alphabet by 3.3% in the 2nd quarter. Vanguard Group Inc. now owns 20,570,476 shares of the information services provider’s stock valued at $19,123,960,000 after acquiring an additional 662,279 shares during the period. BlackRock Inc. raised its holdings in Alphabet by 3.1% in the 2nd quarter. BlackRock Inc. now owns 18,633,934 shares of the information services provider’s stock valued at $17,323,595,000 after acquiring an additional 567,337 shares during the period. FMR LLC raised its holdings in Alphabet by 2.1% in the 2nd quarter. FMR LLC now owns 17,647,327 shares of the information services provider’s stock valued at $16,406,366,000 after acquiring an additional 367,634 shares during the period. State Street Corp raised its holdings in Alphabet by 1.2% in the 1st quarter. State Street Corp now owns 11,946,348 shares of the information services provider’s stock valued at $10,128,119,000 after acquiring an additional 142,214 shares during the period. Finally, Capital Research Global Investors raised its holdings in Alphabet by 2.4% in the 2nd quarter. Capital Research Global Investors now owns 4,308,195 shares of the information services provider’s stock valued at $4,005,243,000 after acquiring an additional 102,133 shares during the period. 33.85% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Alphabet (GOOGL) traded down 0.13% during trading on Wednesday, reaching $992.31. The company’s stock had a trading volume of 1,295,467 shares. The company has a market capitalization of $687.55 billion, a P/E ratio of 35.96 and a beta of 0.96. The company’s 50-day moving average is $949.40 and its 200-day moving average is $939.39. Alphabet has a 12 month low of $743.59 and a 12 month high of $1,008.61.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Monday, July 24th. The information services provider reported $5.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $8.25 by ($3.24). Alphabet had a net margin of 19.49% and a return on equity of 13.66%. The firm had revenue of $20.92 billion during the quarter, compared to the consensus estimate of $20.83 billion. During the same quarter last year, the firm posted $8.42 EPS. On average, analysts forecast that Alphabet will post $30.59 EPS for the current fiscal year.

About Alphabet

Several research analysts recently weighed in on the stock. B. Riley restated a “buy” rating and issued a $1,050.00 price objective on shares of Alphabet in a research report on Sunday, July 30th. Royal Bank Of Canada restated a “buy” rating and issued a $1,050.00 price objective on shares of Alphabet in a research report on Sunday. Cowen and Company restated an “outperform” rating and issued a $1,075.00 price objective on shares of Alphabet in a research report on Thursday, August 10th. Bank of America Corporation restated a “buy” rating and issued a $1,100.00 price objective on shares of Alphabet in a research report on Tuesday, September 26th. Finally, Wells Fargo & Company restated an “outperform” rating and issued a $1,250.00 price objective on shares of Alphabet in a research report on Wednesday, September 27th.

WARNING: “Alphabet Inc. (GOOGL) Receives Consensus Recommendation of “Buy” from Analysts” was published by The Ledger Gazette and is the property of of The Ledger Gazette. If you are reading this report on another publication, it was illegally copied and republished in violation of United States and international copyright and trademark law. The legal version of this report can be viewed at https://ledgergazette.com/2017/10/09/alphabet-inc-googl-receives-consensus-recommendation-of-buy-from-analysts.html.

A number of institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its holdings in Alphabet by 3.3% in the 2nd quarter. Vanguard Group Inc. now owns 20,570,476 shares of the information services provider’s stock valued at $19,123,960,000 after acquiring an additional 662,279 shares during the period. BlackRock Inc. raised its holdings in Alphabet by 3.1% in the 2nd quarter. BlackRock Inc. now owns 18,633,934 shares of the information services provider’s stock valued at $17,323,595,000 after acquiring an additional 567,337 shares during the period. FMR LLC raised its holdings in Alphabet by 2.1% in the 2nd quarter. FMR LLC now owns 17,647,327 shares of the information services provider’s stock valued at $16,406,366,000 after acquiring an additional 367,634 shares during the period. State Street Corp raised its holdings in Alphabet by 1.2% in the 1st quarter. State Street Corp now owns 11,946,348 shares of the information services provider’s stock valued at $10,128,119,000 after acquiring an additional 142,214 shares during the period. Finally, Capital Research Global Investors raised its holdings in Alphabet by 2.4% in the 2nd quarter. Capital Research Global Investors now owns 4,308,195 shares of the information services provider’s stock valued at $4,005,243,000 after acquiring an additional 102,133 shares during the period. 33.85% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Alphabet (GOOGL) traded down 0.13% during trading on Wednesday, reaching $992.31. The company’s stock had a trading volume of 1,295,467 shares. The company has a market capitalization of $687.55 billion, a P/E ratio of 35.96 and a beta of 0.96. The company’s 50-day moving average is $949.40 and its 200-day moving average is $939.39. Alphabet has a 12 month low of $743.59 and a 12 month high of $1,008.61.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Monday, July 24th. The information services provider reported $5.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $8.25 by ($3.24). Alphabet had a net margin of 19.49% and a return on equity of 13.66%. The firm had revenue of $20.92 billion during the quarter, compared to the consensus estimate of $20.83 billion. During the same quarter last year, the firm posted $8.42 EPS. On average, analysts forecast that Alphabet will post $30.59 EPS for the current fiscal year.

About Alphabet

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.

Analyst Recommendations for Alphabet (NASDAQ:GOOGL)

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