Alphabet Inc Class A (NASDAQ:GOOGL) Now Covered by Wedbush

Wedbush initiated coverage on shares of Alphabet Inc Class A (NASDAQ:GOOGL) in a research report released on Wednesday, October 17th, MarketBeat reports. The firm issued an outperform rating and a $1,350.00 target price on the information services provider’s stock. Wedbush also issued estimates for Alphabet Inc Class A’s Q3 2018 earnings at $11.00 EPS, Q4 2018 earnings at $11.10 EPS, Q1 2019 earnings at $10.59 EPS, Q2 2019 earnings at $11.61 EPS, Q3 2019 earnings at $12.21 EPS, Q4 2019 earnings at $12.80 EPS and FY2019 earnings at $47.21 EPS.

GOOGL has been the subject of several other reports. B. Riley reaffirmed a buy rating on shares of Alphabet Inc Class A in a report on Monday, July 16th. Nomura initiated coverage on shares of Alphabet Inc Class A in a report on Tuesday, July 10th. They issued a buy rating and a $1,400.00 price objective for the company. ValuEngine raised shares of Alphabet Inc Class A from a hold rating to a buy rating in a report on Monday, July 2nd. Monness Crespi & Hardt raised their price objective on shares of Alphabet Inc Class A from $1,306.00 to $1,415.00 and gave the stock a buy rating in a report on Tuesday, July 24th. Finally, Citigroup reaffirmed a buy rating and issued a $1,400.00 price objective (up from $1,350.00) on shares of Alphabet Inc Class A in a report on Tuesday, July 24th. One analyst has rated the stock with a sell rating, four have issued a hold rating and thirty have given a buy rating to the stock. The stock presently has an average rating of Buy and a consensus price target of $1,333.76.

Shares of NASDAQ GOOGL traded down $17.61 during trading on Wednesday, hitting $1,077.02. 1,742,802 shares of the company traded hands, compared to its average volume of 2,537,644. The company has a current ratio of 4.14, a quick ratio of 4.10 and a debt-to-equity ratio of 0.02. Alphabet Inc Class A has a fifty-two week low of $984.00 and a fifty-two week high of $1,291.44. The firm has a market capitalization of $771.20 billion, a P/E ratio of 33.60, a P/E/G ratio of 1.36 and a beta of 1.06.

Alphabet Inc Class A (NASDAQ:GOOGL) last posted its earnings results on Thursday, October 25th. The information services provider reported $13.06 earnings per share for the quarter, topping the Zacks’ consensus estimate of $10.54 by $2.52. The company had revenue of $27.16 billion for the quarter, compared to analyst estimates of $27.32 billion. Alphabet Inc Class A had a net margin of 14.45% and a return on equity of 19.40%. Equities research analysts forecast that Alphabet Inc Class A will post 45.24 EPS for the current year.

A number of large investors have recently bought and sold shares of GOOGL. Well Done LLC purchased a new position in shares of Alphabet Inc Class A during the first quarter valued at approximately $107,000. Westchester Capital Management Inc. raised its holdings in shares of Alphabet Inc Class A by 1,262.5% during the first quarter. Westchester Capital Management Inc. now owns 109 shares of the information services provider’s stock valued at $113,000 after purchasing an additional 101 shares during the last quarter. KHP Capital LLC purchased a new position in shares of Alphabet Inc Class A during the first quarter valued at approximately $124,000. Parkside Investments LLC purchased a new position in shares of Alphabet Inc Class A during the third quarter valued at approximately $124,000. Finally, Private Ocean LLC raised its holdings in shares of Alphabet Inc Class A by 355.6% during the first quarter. Private Ocean LLC now owns 123 shares of the information services provider’s stock valued at $127,000 after purchasing an additional 96 shares during the last quarter. 33.43% of the stock is currently owned by institutional investors and hedge funds.

About Alphabet Inc Class A

Alphabet Inc, through its subsidiaries, provides online advertising services in the United States and internationally. The company offers performance and brand advertising services. It operates through Google and Other Bets segments. The Google segment includes principal Internet products, such as Ads, Android, Chrome, Commerce, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure and newer efforts, including Virtual Reality.

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Analyst Recommendations for Alphabet Inc Class A (NASDAQ:GOOGL)

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