Alphabet’s (GOOGL) Buy Rating Reaffirmed at Citigroup

Citigroup reissued their buy rating on shares of Alphabet (NASDAQ:GOOGL) in a research note released on Tuesday, The Fly reports. Citigroup currently has a $1,500.00 price target on the information services provider’s stock, up from their previous price target of $1,450.00.

Several other equities analysts also recently issued reports on GOOGL. Bank of America restated a buy rating and issued a $1,450.00 price objective on shares of Alphabet in a research note on Thursday, October 24th. Loop Capital boosted their target price on Alphabet to $1,450.00 and gave the company a hold rating in a report on Monday, November 11th. They noted that the move was a valuation call. Stifel Nicolaus upped their target price on Alphabet from $1,299.00 to $1,325.00 and gave the company a hold rating in a research report on Tuesday, October 29th. Monness Crespi & Hardt set a $1,360.00 price target on Alphabet and gave the stock a buy rating in a research note on Monday, October 21st. Finally, Barclays reaffirmed a buy rating and set a $1,400.00 price target on shares of Alphabet in a research report on Tuesday, October 29th. Six analysts have rated the stock with a hold rating and thirty-five have issued a buy rating to the company’s stock. The company has a consensus rating of Buy and a consensus price target of $1,420.81.

NASDAQ GOOGL traded up $12.43 on Tuesday, hitting $1,339.39. 1,537,357 shares of the stock were exchanged, compared to its average volume of 1,245,949. The company has a quick ratio of 3.75, a current ratio of 3.78 and a debt-to-equity ratio of 0.07. Alphabet has a fifty-two week low of $977.66 and a fifty-two week high of $1,333.92. The company has a market cap of $923.76 billion, a PE ratio of 28.19, a PEG ratio of 1.59 and a beta of 1.02. The company has a 50-day moving average price of $1,290.28 and a 200-day moving average price of $1,195.52.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Monday, October 28th. The information services provider reported $10.12 earnings per share for the quarter, missing the Zacks’ consensus estimate of $12.42 by ($2.30). The business had revenue of $33.01 billion during the quarter, compared to analyst estimates of $32.84 billion. Alphabet had a net margin of 21.04% and a return on equity of 18.34%. During the same quarter in the prior year, the business earned $13.06 earnings per share. As a group, equities research analysts predict that Alphabet will post 49.05 EPS for the current fiscal year.

A number of large investors have recently bought and sold shares of the business. DAGCO Inc. boosted its position in Alphabet by 0.6% during the third quarter. DAGCO Inc. now owns 1,282 shares of the information services provider’s stock worth $1,565,000 after acquiring an additional 8 shares during the last quarter. First Heartland Consultants Inc. boosted its holdings in shares of Alphabet by 3.8% during the third quarter. First Heartland Consultants Inc. now owns 217 shares of the information services provider’s stock worth $265,000 after purchasing an additional 8 shares during the last quarter. Creative Financial Designs Inc. ADV grew its position in shares of Alphabet by 7.8% in the second quarter. Creative Financial Designs Inc. ADV now owns 125 shares of the information services provider’s stock valued at $140,000 after purchasing an additional 9 shares during the period. Copperwynd Financial LLC grew its position in shares of Alphabet by 2.1% in the second quarter. Copperwynd Financial LLC now owns 448 shares of the information services provider’s stock valued at $485,000 after purchasing an additional 9 shares during the period. Finally, Pensionmark Financial Group LLC grew its position in shares of Alphabet by 4.5% in the second quarter. Pensionmark Financial Group LLC now owns 210 shares of the information services provider’s stock valued at $251,000 after purchasing an additional 9 shares during the period. Hedge funds and other institutional investors own 33.57% 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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