Alphabet Inc. (GOOGL) Given Overweight Rating at Morgan Stanley

Alphabet Inc. (NASDAQ:GOOGL)‘s stock had its “overweight” rating reaffirmed by Morgan Stanley in a research report issued to clients and investors on Saturday, July 22nd. They presently have a $1,050.00 price objective on the information services provider’s stock. Morgan Stanley’s price objective would suggest a potential upside of 13.37% from the company’s current price.

Other research analysts have also issued research reports about the company. Nomura cut their price target on Alphabet from $950.00 to $925.00 and set a “buy” rating on the stock in a report on Monday, March 27th. Instinet cut their price target on Alphabet from $950.00 to $925.00 and set a “buy” rating on the stock in a report on Monday, March 27th. UBS AG restated a “buy” rating and issued a $980.00 target price on shares of Alphabet in a report on Monday, March 27th. Zacks Investment Research upgraded Alphabet from a “hold” rating to a “buy” rating and set a $939.00 target price on the stock in a report on Wednesday, March 29th. Finally, Aegis restated a “buy” rating and issued a $1,011.00 target price on shares of Alphabet in a report on Sunday, April 2nd. One analyst has rated the stock with a sell rating, seven have issued a hold rating, forty-two have issued a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $1,053.45.

Alphabet (NASDAQ GOOGL) traded down 0.16% during midday trading on Friday, reaching $926.18. The company’s stock had a trading volume of 1,337,404 shares. The firm has a market cap of $641.73 billion, a P/E ratio of 33.57 and a beta of 0.99. Alphabet has a 52-week low of $743.59 and a 52-week high of $1,008.61. The firm has a 50 day moving average of $952.51 and a 200 day moving average of $912.15.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Monday, July 24th. The information services provider reported $5.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $8.25 by $3.24. The firm had revenue of $20.92 billion during 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 quarter in the previous year, the company posted $8.42 EPS. Analysts anticipate that Alphabet will post $30.60 earnings per share for the current fiscal year.

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A number of hedge funds and other institutional investors have recently made changes to their positions in GOOGL. Ancora Advisors LLC increased its position in shares of Alphabet by 261.6% in the fourth quarter. Ancora Advisors LLC now owns 3,913 shares of the information services provider’s stock worth $3,101,000 after buying an additional 2,831 shares in the last quarter. Alta Capital Management LLC increased its position in shares of Alphabet by 1.3% in the first quarter. Alta Capital Management LLC now owns 79,008 shares of the information services provider’s stock worth $66,982,000 after buying an additional 1,001 shares in the last quarter. Chescapmanager LLC acquired a new position in shares of Alphabet during the fourth quarter worth about $9,509,000. Patriot Wealth Management Inc. increased its position in shares of Alphabet by 2.6% in the first quarter. Patriot Wealth Management Inc. now owns 5,599 shares of the information services provider’s stock worth $4,747,000 after buying an additional 141 shares in the last quarter. Finally, JW Asset Management LLC increased its position in shares of Alphabet by 40.0% in the fourth quarter. JW Asset Management LLC now owns 10,500 shares of the information services provider’s stock worth $8,321,000 after buying an additional 3,000 shares in the last quarter. Institutional investors own 34.12% of the company’s stock.

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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