Alphabet (NASDAQ:GOOGL) Research Coverage Started at Sanford C. Bernstein

Equities research analysts at Sanford C. Bernstein initiated coverage on shares of Alphabet (NASDAQ:GOOGL) in a research report issued on Friday, Marketbeat.com reports. The firm set an “outperform” rating and a $1,600.00 price target on the information services provider’s stock. Sanford C. Bernstein’s target price indicates a potential upside of 11.97% from the stock’s current price.

Other equities research analysts have also issued research reports about the stock. Monness Crespi & Hardt set a $1,360.00 price objective on shares of Alphabet and gave the company a “buy” rating in a report on Monday, October 21st. Stifel Nicolaus raised shares of Alphabet from a “hold” rating to a “buy” rating and lifted their target price for the stock from $1,325.00 to $1,525.00 in a research note on Thursday, December 5th. KeyCorp boosted their target price on shares of Alphabet from $1,516.00 to $1,546.00 and gave the company an “overweight” rating in a report on Tuesday, October 29th. BMO Capital Markets set a $1,245.00 price target on shares of Alphabet and gave the stock a “hold” rating in a report on Friday, October 25th. Finally, Cleveland Research initiated coverage on Alphabet in a report on Friday, December 20th. They issued a “neutral” rating and a $1,423.00 price objective on the stock. Six analysts have rated the stock with a hold rating and thirty-nine have issued a buy rating to the stock. Alphabet presently has an average rating of “Buy” and a consensus target price of $1,434.10.

Shares of GOOGL traded up $9.17 during trading hours on Friday, hitting $1,428.96. 1,307,016 shares of the stock were exchanged, compared to its average volume of 1,296,755. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.75 and a current ratio of 3.78. Alphabet has a 12-month low of $1,027.03 and a 12-month high of $1,434.94. The company has a market cap of $979.21 billion, a price-to-earnings ratio of 30.08, a price-to-earnings-growth ratio of 1.56 and a beta of 1.01. The stock’s 50-day moving average price is $1,343.18 and its two-hundred day moving average price is $1,239.89.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Monday, October 28th. The information services provider reported $10.12 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $12.42 by ($2.30). The firm had revenue of $33.01 billion for the quarter, compared to analysts’ expectations of $32.84 billion. Alphabet had a return on equity of 18.34% and a net margin of 21.04%. During the same quarter in the previous year, the firm posted $13.06 earnings per share. On average, research analysts expect that Alphabet will post 49.03 earnings per share for the current year.

Several hedge funds have recently bought and sold shares of GOOGL. Roof Eidam & Maycock ADV acquired a new stake in shares of Alphabet in the 3rd quarter valued at approximately $33,000. Garrett Wealth Advisory Group LLC acquired a new stake in Alphabet in the 3rd quarter worth approximately $39,000. Vista Private Wealth Partners. LLC acquired a new stake in Alphabet in the 3rd quarter worth approximately $60,000. Investors Research Corp lifted its holdings in Alphabet by 72.4% in the 3rd quarter. Investors Research Corp now owns 50 shares of the information services provider’s stock worth $61,000 after purchasing an additional 21 shares during the last quarter. Finally, Enterprise Trust & Investment Co lifted its holdings in Alphabet by 256.3% in the 3rd quarter. Enterprise Trust & Investment Co now owns 57 shares of the information services provider’s stock worth $70,000 after purchasing an additional 41 shares during the last quarter. 33.55% of the stock is owned by institutional investors and hedge funds.

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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