Alphabet (NASDAQ:GOOGL) PT Lowered to $1,400.00

Alphabet (NASDAQ:GOOGL) had its target price trimmed by Morgan Stanley from $1,425.00 to $1,400.00 in a research report sent to investors on Monday morning, BenzingaRatingsTable reports. The brokerage currently has an overweight rating on the information services provider’s stock.

Other equities analysts have also recently issued research reports about the stock. Loop Capital assumed coverage on shares of TENCENT HOLDING/ADR in a research note on Monday, June 3rd. They issued a buy rating on the stock. Deutsche Bank upped their price target on shares of Alphabet from $1,300.00 to $1,400.00 and gave the stock a buy rating in a research note on Wednesday, May 15th. Zacks Investment Research upgraded shares of Flagstar Bancorp from a hold rating to a buy rating and set a $38.00 price target on the stock in a research note on Monday, July 8th. Nomura upped their price target on shares of Spotify from $188.00 to $190.00 and gave the stock a buy rating in a research note on Tuesday, April 30th. Finally, Argus upped their price target on shares of Thermo Fisher Scientific from $285.00 to $310.00 and gave the stock a buy rating in a research note on Wednesday, May 1st. Eight analysts have rated the stock with a hold rating and twenty-nine have given a buy rating to the company. The stock presently has an average rating of Buy and a consensus target price of $1,319.59.

NASDAQ:GOOGL opened at $1,147.24 on Monday. The stock has a market cap of $796.12 billion, a P/E ratio of 23.18, a PEG ratio of 1.35 and a beta of 0.96. The stock has a 50-day simple moving average of $1,104.25. Alphabet has a 1-year low of $977.66 and a 1-year high of $1,296.97. The company has a quick ratio of 3.93, a current ratio of 3.96 and a debt-to-equity ratio of 0.02.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Monday, April 29th. The information services provider reported $11.90 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $10.56 by $1.34. The company had revenue of $29.48 billion for the quarter, compared to analysts’ expectations of $29.99 billion. Alphabet had a net margin of 19.71% and a return on equity of 20.06%. During the same quarter in the previous year, the business posted $13.33 EPS. As a group, analysts expect that Alphabet will post 48.43 EPS for the current fiscal year.

Institutional investors and hedge funds have recently bought and sold shares of the business. Belvedere Advisors LLC bought a new position in shares of Alphabet in the 1st quarter worth approximately $38,000. Thor Advisors LLC bought a new position in shares of Alphabet in the 1st quarter worth approximately $45,000. Vestor Capital LLC bought a new position in shares of Alphabet in the 3rd quarter worth approximately $62,000. Lavaca Capital LLC bought a new position in shares of Alphabet in the 4th quarter worth approximately $97,000. Finally, Sound Income Strategies LLC lifted its stake in shares of Alphabet by 71.4% in the 4th quarter. Sound Income Strategies LLC now owns 96 shares of the information services provider’s stock worth $100,000 after purchasing an additional 40 shares during the period. Institutional investors and hedge funds own 33.60% of the company’s stock.

About Alphabet

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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