Alphabet Inc. (GOOGL) Earns “Buy” Rating from Royal Bank Of Canada

Royal Bank Of Canada reissued their buy rating on shares of Alphabet Inc. (NASDAQ:GOOGL) in a research note released on Sunday morning. They currently have a $1,050.00 price target on the information services provider’s stock.

A number of other equities analysts have also recently issued reports on the stock. Vetr raised shares of Alphabet from a buy rating to a strong-buy rating and set a $1,069.98 price objective on the stock in a research report on Tuesday, June 27th. Societe Generale set a $1,210.00 price target on shares of Alphabet and gave the company a buy rating in a research report on Friday, July 7th. They noted that the move was a valuation call. SunTrust Banks, Inc. reaffirmed a buy rating and issued a $1,100.00 price target on shares of Alphabet in a research report on Saturday, September 23rd. Wells Fargo & Company reaffirmed an outperform rating and issued a $1,150.00 price target on shares of Alphabet in a research report on Saturday, July 22nd. Finally, Zacks Investment Research cut shares of Alphabet from a hold rating to a sell rating in a research report on Monday, July 17th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, thirty-nine have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of Buy and a consensus price target of $1,058.31.

Shares of Alphabet (NASDAQ:GOOGL) opened at 987.80 on Friday. Alphabet has a one year low of $743.59 and a one year high of $1,008.61. The stock has a 50 day moving average price of $951.32 and a 200-day moving average price of $940.49. The company has a market capitalization of $684.43 billion, a price-to-earnings ratio of 35.80 and a beta of 0.96.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Monday, July 24th. The information services provider reported $5.01 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $8.25 by ($3.24). The company had revenue of $20.92 billion for the quarter, compared to the consensus estimate of $20.83 billion. Alphabet had a return on equity of 13.66% and a net margin of 19.49%. During the same period last year, the company earned $8.42 EPS. On average, equities research analysts expect that Alphabet will post $30.59 EPS for the current year.

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Institutional investors have recently bought and sold shares of the business. State of Alaska Department of Revenue purchased a new position in shares of Alphabet in the second quarter valued at about $102,000. Franklin Parlapiano Turner & Welch LLC purchased a new position in shares of Alphabet in the first quarter valued at about $108,000. Delta Asset Management LLC TN increased its position in shares of Alphabet by 1.5% in the first quarter. Delta Asset Management LLC TN now owns 136 shares of the information services provider’s stock valued at $116,000 after acquiring an additional 2 shares during the period. Parkside Financial Bank & Trust increased its position in shares of Alphabet by 39.6% in the second quarter. Parkside Financial Bank & Trust now owns 127 shares of the information services provider’s stock valued at $118,000 after acquiring an additional 36 shares during the p

A number of other equities analysts have also recently issued reports on the stock. Vetr raised shares of Alphabet from a buy rating to a strong-buy rating and set a $1,069.98 price objective on the stock in a research report on Tuesday, June 27th. Societe Generale set a $1,210.00 price target on shares of Alphabet and gave the company a buy rating in a research report on Friday, July 7th. They noted that the move was a valuation call. SunTrust Banks, Inc. reaffirmed a buy rating and issued a $1,100.00 price target on shares of Alphabet in a research report on Saturday, September 23rd. Wells Fargo & Company reaffirmed an outperform rating and issued a $1,150.00 price target on shares of Alphabet in a research report on Saturday, July 22nd. Finally, Zacks Investment Research cut shares of Alphabet from a hold rating to a sell rating in a research report on Monday, July 17th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, thirty-nine have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of Buy and a consensus price target of $1,058.31.

Shares of Alphabet (NASDAQ:GOOGL) opened at 987.80 on Friday. Alphabet has a one year low of $743.59 and a one year high of $1,008.61. The stock has a 50 day moving average price of $951.32 and a 200-day moving average price of $940.49. The company has a market capitalization of $684.43 billion, a price-to-earnings ratio of 35.80 and a beta of 0.96.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Monday, July 24th. The information services provider reported $5.01 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $8.25 by ($3.24). The company had revenue of $20.92 billion for the quarter, compared to the consensus estimate of $20.83 billion. Alphabet had a return on equity of 13.66% and a net margin of 19.49%. During the same period last year, the company earned $8.42 EPS. On average, equities research analysts expect that Alphabet will post $30.59 EPS for the current year.

COPYRIGHT VIOLATION NOTICE: This news story was posted by The Ledger Gazette and is the property of of The Ledger Gazette. If you are viewing this news story on another domain, it was copied illegally and republished in violation of U.S. and international copyright and trademark laws. The correct version of this news story can be read at https://ledgergazette.com/2017/10/11/alphabet-inc-googl-earns-buy-rating-from-royal-bank-of-canada.html.

Institutional investors have recently bought and sold shares of the business. State of Alaska Department of Revenue purchased a new position in shares of Alphabet in the second quarter valued at about $102,000. Franklin Parlapiano Turner & Welch LLC purchased a new position in shares of Alphabet in the first quarter valued at about $108,000. Delta Asset Management LLC TN increased its position in shares of Alphabet by 1.5% in the first quarter. Delta Asset Management LLC TN now owns 136 shares of the information services provider’s stock valued at $116,000 after acquiring an additional 2 shares during the period. Parkside Financial Bank & Trust increased its position in shares of Alphabet by 39.6% in the second quarter. Parkside Financial Bank & Trust now owns 127 shares of the information services provider’s stock valued at $118,000 after acquiring an additional 36 shares during the period. Finally, Odey Holdings AG increased its position in shares of Alphabet by 18.2% in the second quarter. Odey Holdings AG now owns 130 shares of the information services provider’s stock valued at $121,000 after acquiring an additional 20 shares during the period. 33.85% of the stock is owned by institutional investors and hedge funds.

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.

Analyst Recommendations for Alphabet (NASDAQ:GOOGL)

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