Alphabet (GOOGL) Price Target Lowered to $1,310.00 at Nomura

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Alphabet (NASDAQ:GOOGL) had its price target cut by analysts at Nomura from $1,350.00 to $1,310.00 in a research report issued on Tuesday. The brokerage currently has a “buy” rating on the information services provider’s stock. Nomura’s price objective would suggest a potential upside of 13.73% from the company’s current price.

Several other equities analysts have also recently weighed in on the company. Barclays restated an “overweight” rating on shares of Alphabet in a research note on Tuesday. Royal Bank of Canada dropped their price objective on Alphabet to $1,300.00 and set an “outperform” rating on the stock in a research note on Tuesday. Zacks Investment Research cut Alphabet from a “buy” rating to a “hold” rating in a research note on Tuesday, January 29th. Stifel Nicolaus dropped their price objective on Alphabet from $1,400.00 to $1,300.00 and set a “buy” rating on the stock in a research note on Friday, January 25th. Finally, Deutsche Bank restated a “buy” rating and set a $1,300.00 price objective on shares of Alphabet in a research note on Wednesday, January 23rd. Two equities research analysts have rated the stock with a hold rating and thirty-one have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $1,320.71.

Shares of NASDAQ:GOOGL opened at $1,151.87 on Tuesday. The company has a current ratio of 4.14, a quick ratio of 4.10 and a debt-to-equity ratio of 0.02. Alphabet has a 1-year low of $977.66 and a 1-year high of $1,291.44. The firm has a market cap of $794.29 billion, a price-to-earnings ratio of 24.24, a P/E/G ratio of 1.34 and a beta of 1.05.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Monday, February 4th. The information services provider reported $12.77 earnings per share for the quarter, beating the consensus estimate of $11.08 by $1.69. Alphabet had a return on equity of 20.34% and a net margin of 22.47%. The business had revenue of $31.84 billion for the quarter, compared to analysts’ expectations of $31.28 billion. During the same period last year, the business earned $9.70 EPS. As a group, sell-side analysts forecast that Alphabet will post 47.17 earnings per share for the current year.

A number of institutional investors and hedge funds have recently made changes to their positions in GOOGL. Palladium Partners LLC lifted its holdings in shares of Alphabet by 1.9% during the 2nd quarter. Palladium Partners LLC now owns 26,030 shares of the information services provider’s stock worth $29,393,000 after acquiring an additional 480 shares during the period. Wealthstreet Investment Advisors LLC lifted its holdings in shares of Alphabet by 8.9% during the 2nd quarter. Wealthstreet Investment Advisors LLC now owns 2,941 shares of the information services provider’s stock worth $3,321,000 after acquiring an additional 240 shares during the period. Kanawha Capital Management LLC increased its position in shares of Alphabet by 1.8% during the 2nd quarter. Kanawha Capital Management LLC now owns 5,706 shares of the information services provider’s stock worth $6,443,000 after purchasing an additional 100 shares in the last quarter. S&CO Inc. increased its position in shares of Alphabet by 13.5% during the 2nd quarter. S&CO Inc. now owns 6,358 shares of the information services provider’s stock worth $7,179,000 after purchasing an additional 756 shares in the last quarter. Finally, Northeast Financial Consultants Inc increased its position in shares of Alphabet by 10.6% during the 2nd quarter. Northeast Financial Consultants Inc now owns 5,065 shares of the information services provider’s stock worth $5,719,000 after purchasing an additional 487 shares in the last quarter. 33.41% of the stock is owned by institutional investors.

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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