Alphabet (NASDAQ:GOOGL) Stock Rating Reaffirmed by MKM Partners

MKM Partners reiterated their buy rating on shares of Alphabet (NASDAQ:GOOGL) in a research note released on Friday morning, BenzingaRatingsTable reports. MKM Partners currently has a $1,450.00 price objective on the information services provider’s stock.

A number of other research analysts also recently issued reports on the stock. Bank of America reiterated a buy rating and issued a $1,350.00 price target on shares of Alphabet in a research note on Monday, July 22nd. Oppenheimer set a $1,370.00 price target on shares of Alphabet and gave the stock a buy rating in a research note on Friday, July 26th. Raymond James set a $1,360.00 price target on shares of Alphabet and gave the stock a buy rating in a research note on Friday, July 26th. Citigroup reiterated a buy rating and issued a $1,450.00 price target (up previously from $1,325.00) on shares of Alphabet in a research note on Friday, July 26th. Finally, BMO Capital Markets lifted their price target on shares of Alphabet to $1,225.00 and gave the stock a market perform rating in a research note on Friday, July 26th. Eight investment analysts have rated the stock with a hold rating and thirty-two have issued a buy rating to the company’s stock. The stock presently has an average rating of Buy and a consensus price target of $1,371.05.

Shares of GOOGL stock opened at $1,154.75 on Friday. The company has a quick ratio of 3.96, a current ratio of 3.98 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $829.52 billion, a PE ratio of 24.31, a P/E/G ratio of 1.32 and a beta of 0.97. The company has a 50 day simple moving average of $1,142.77. Alphabet has a fifty-two week low of $977.66 and a fifty-two week high of $1,296.97.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Thursday, July 25th. The information services provider reported $14.21 earnings per share for the quarter, beating analysts’ consensus estimates of $11.49 by $2.72. The firm had revenue of $31.71 billion during the quarter, compared to analysts’ expectations of $30.90 billion. Alphabet had a net margin of 23.43% and a return on equity of 20.15%. Equities analysts forecast that Alphabet will post 51.94 earnings per share for the current fiscal year.

A number of hedge funds have recently added to or reduced their stakes in the stock. Thoroughbred Financial Services LLC increased its stake in Alphabet by 205,910.9% in the 2nd quarter. Thoroughbred Financial Services LLC now owns 3,393,000 shares of the information services provider’s stock valued at $339,300,000 after buying an additional 3,391,353 shares during the period. Packer & Co Ltd increased its stake in Alphabet by 4,018.6% in the 2nd quarter. Packer & Co Ltd now owns 958,600 shares of the information services provider’s stock valued at $25,202,000 after buying an additional 935,325 shares during the period. Royal London Asset Management Ltd. acquired a new position in Alphabet in the 4th quarter valued at $237,900,000. AMF Pensionsforsakring AB increased its stake in Alphabet by 172.7% in the 4th quarter. AMF Pensionsforsakring AB now owns 209,505 shares of the information services provider’s stock valued at $218,924,000 after buying an additional 132,686 shares during the period. Finally, CIBC Private Wealth Group LLC increased its stake in Alphabet by 41.6% in the 2nd quarter. CIBC Private Wealth Group LLC now owns 243,947 shares of the information services provider’s stock valued at $264,144,000 after buying an additional 71,681 shares during the period. Hedge funds and other institutional investors own 33.94% of the company’s stock.

Alphabet Company Profile

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 (NASDAQ:GOOGL)

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