Alphabet (NASDAQ:GOOGL) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Monday, January 8th.
According to Zacks, “Alphabet's stock has outperformed the industry it belongs to on a 12-month basis. Alphabet's strong advertising revenues and improving paid click growth remain the growth drivers. Its focus on innovation, AI, cloud, home automation space, strategic acquisitions and Android OS should continue to generate strong cash flows. Alphabet has shown good execution to date, more or less maintaining its dominant share in a competitive, fast-growing search market. Its diversification strategy is also positive, but requires significant investment and involves uncertain payback periods, particularly since these efforts are at the cutting edge of technology. However, increasing litigation issues could continue to impact the company’s profits.”
GOOGL has been the subject of a number of other reports. Robert W. Baird reiterated a “buy” rating and set a $1,100.00 target price on shares of Alphabet in a research report on Monday, September 11th. Vetr upgraded Alphabet from a “buy” rating to a “strong-buy” rating and set a $1,046.78 target price for the company in a research report on Monday, September 18th. Citigroup reiterated a “buy” rating and set a $1,180.00 target price on shares of Alphabet in a research report on Wednesday, September 20th. Susquehanna Bancshares reiterated a “positive” rating and set a $1,200.00 target price on shares of Alphabet in a research report on Thursday, September 21st. Finally, Cantor Fitzgerald reiterated a “buy” rating and set a $1,100.00 target price on shares of Alphabet in a research report on Thursday, September 21st. One research analyst has rated the stock with a sell rating, six have issued a hold rating, forty have given a buy rating and one has issued a strong buy rating to the stock. Alphabet currently has a consensus rating of “Buy” and an average target price of $1,098.90.
Alphabet (GOOGL) opened at $1,135.97 on Monday. Alphabet has a 52 week low of $812.05 and a 52 week high of $1,148.88. The company has a quick ratio of 5.73, a current ratio of 5.77 and a debt-to-equity ratio of 0.03. The firm has a market capitalization of $790,380.00, a P/E ratio of 37.84, a price-to-earnings-growth ratio of 1.49 and a beta of 0.90.
Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Thursday, October 26th. The information services provider reported $9.57 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $8.43 by $1.14. Alphabet had a return on equity of 14.26% and a net margin of 20.09%. The business had revenue of $22.27 billion during the quarter, compared to the consensus estimate of $21.94 billion. During the same period in the prior year, the company posted $9.06 EPS. equities analysts anticipate that Alphabet will post 32.36 earnings per share for the current fiscal year.
Several institutional investors have recently made changes to their positions in GOOGL. State of Alaska Department of Revenue bought a new stake in Alphabet during the second quarter valued at about $102,000. Parkside Financial Bank & Trust boosted its position in Alphabet by 39.6% during the second quarter. Parkside Financial Bank & Trust now owns 127 shares of the information services provider’s stock valued at $118,000 after purchasing an additional 36 shares in the last quarter. Stelac Advisory Services LLC bought a new stake in Alphabet during the third quarter valued at about $126,000. Odey Holdings AG boosted its position in Alphabet by 18.2% during the second quarter. Odey Holdings AG now owns 130 shares of the information services provider’s stock valued at $121,000 after purchasing an additional 20 shares in the last quarter. Finally, Wealthcare Advisory Partners LLC bought a new stake in Alphabet during the third quarter valued at about $137,000. Hedge funds and other institutional investors own 33.57% of the company’s stock.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Alphabet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alphabet and related companies with MarketBeat.com's FREE daily email newsletter.