Wedbush Reiterates Outperform Rating for Alphabet (NASDAQ:GOOGL)

Alphabet (NASDAQ:GOOGL)‘s stock had its “outperform” rating reissued by investment analysts at Wedbush in a report released on Tuesday, February 5th. They currently have a $1,350.00 target price on the information services provider’s stock. Wedbush’s target price indicates a potential upside of 17.54% from the company’s current price. Wedbush also issued estimates for Alphabet’s Q1 2019 earnings at $11.74 EPS, Q2 2019 earnings at $12.88 EPS, Q3 2019 earnings at $13.41 EPS, Q4 2019 earnings at $12.97 EPS, FY2019 earnings at $51.00 EPS, Q1 2020 earnings at $13.41 EPS, Q2 2020 earnings at $14.71 EPS, Q3 2020 earnings at $15.32 EPS, Q4 2020 earnings at $14.55 EPS and FY2020 earnings at $58.00 EPS.

Other equities analysts also recently issued research reports about the stock. Guggenheim started coverage on shares of Alphabet in a research note on Thursday, December 6th. They set a “buy” rating and a $1,330.00 target price for the company. Nomura reissued a “buy” rating and set a $1,400.00 price target on shares of Alphabet in a research report on Tuesday, December 4th. ValuEngine raised shares of Alphabet from a “hold” rating to a “buy” rating in a research report on Saturday, December 1st. MKM Partners reduced their price target on shares of Alphabet from $1,465.00 to $1,365.00 and set a “buy” rating for the company in a research report on Monday, November 26th. Finally, Goldman Sachs Group reduced their price target on shares of Alphabet from $1,500.00 to $1,300.00 and set a “buy” rating for the company in a research report on Friday, October 26th. Three research analysts have rated the stock with a hold rating and thirty have issued a buy rating to the stock. Alphabet presently has an average rating of “Buy” and an average target price of $1,320.24.

GOOGL stock traded up $21.97 during trading on Tuesday, reaching $1,148.52. The company had a trading volume of 1,631,080 shares, compared to its average volume of 1,634,800. Alphabet has a 52 week low of $977.66 and a 52 week high of $1,291.44. The company has a market cap of $776.22 billion, a P/E ratio of 24.17, a PEG ratio of 1.35 and a beta of 1.05. The company has a debt-to-equity ratio of 0.02, a current ratio of 3.92 and a quick ratio of 3.89.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Monday, February 4th. The information services provider reported $12.77 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $11.08 by $1.69. Alphabet had a net margin of 22.47% and a return on equity of 19.94%. The company had revenue of $31.84 billion during the quarter, compared to the consensus estimate of $31.28 billion. During the same period in the prior year, the firm earned $9.70 earnings per share. On average, equities research analysts expect that Alphabet will post 47.38 earnings per share for the current fiscal year.

Institutional investors have recently bought and sold shares of the company. MUFG Securities EMEA plc boosted its position in Alphabet by 82,484.5% in the 4th quarter. MUFG Securities EMEA plc now owns 63,262,221 shares of the information services provider’s stock valued at $66,106,490,000 after buying an additional 63,185,618 shares during the period. Oregon Public Employees Retirement Fund boosted its position in Alphabet by 103,543.8% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 54,899,064 shares of the information services provider’s stock valued at $53,000 after buying an additional 54,846,095 shares during the period. BlackRock Inc. boosted its position in Alphabet by 0.7% in the 2nd quarter. BlackRock Inc. now owns 18,861,236 shares of the information services provider’s stock valued at $21,297,919,000 after buying an additional 128,040 shares during the period. FMR LLC boosted its position in Alphabet by 5.5% in the 3rd quarter. FMR LLC now owns 16,434,628 shares of the information services provider’s stock valued at $19,837,909,000 after buying an additional 858,589 shares during the period. Finally, Geode Capital Management LLC lifted its position in shares of Alphabet by 7.1% in the 4th quarter. Geode Capital Management LLC now owns 3,825,248 shares of the information services provider’s stock worth $3,990,173,000 after purchasing an additional 252,414 shares during the period. Hedge funds and other institutional investors own 33.33% 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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