Alphabet Inc. (GOOGL) Rating Reiterated by Deutsche Bank AG

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Alphabet Inc. (NASDAQ:GOOGL)‘s stock had its “buy” rating restated by equities researchers at Deutsche Bank AG in a research report issued on Saturday. They presently have a $1,050.00 price objective on the stock. Deutsche Bank AG’s price objective would indicate a potential upside of 33.17% from the company’s previous close.
Other equities research analysts have also issued reports about the company. Cantor Fitzgerald reissued a “buy” rating on shares of Alphabet in a research report on Saturday, June 4th. Royal Bank Of Canada reissued an “outperform” rating and set a $1,000.00 price target on shares of Alphabet in a research report on Tuesday, June 28th. Robert W. Baird reissued a “buy” rating on shares of Alphabet in a research report on Sunday, July 17th. Credit Suisse Group AG reissued a “buy” rating and set a $920.00 price target on shares of Alphabet in a research report on Sunday, July 17th. Finally, Bank of America Corp. reissued a “buy” rating and set a $925.00 price target on shares of Alphabet in a research report on Sunday, July 17th. Two analysts have rated the stock with a hold rating, forty-seven have given a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $925.10.
Shares of Alphabet (NASDAQ:GOOGL) opened at 788.48 on Friday. The firm has a 50-day moving average price of $794.11 and a 200-day moving average price of $750.27. The firm has a market cap of $541.90 billion, a P/E ratio of 30.55 and a beta of 0.98. Alphabet has a 12-month low of $617.84 and a 12-month high of $813.88.

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Alphabet (NASDAQ:GOOGL) last announced its earnings results on Thursday, July 28th. The company reported $8.42 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $8.04 by $0.38. Alphabet had a return on equity of 14.74% and a net margin of 22.00%. On average, equities research analysts expect that Alphabet will post $34.25 earnings per share for the current fiscal year.
Several institutional investors recently bought and sold shares of the company. State Street Corp increased its position in Alphabet by 0.4% in the first quarter. State Street Corp now owns 11,181,006 shares of the company’s stock valued at $8,529,984,000 after buying an additional 39,282 shares during the period. BlackRock Institutional Trust Company N.A. increased its position in Alphabet by 0.6% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 7,618,239 shares of the company’s stock valued at $5,811,955,000 after buying an additional 44,888 shares during the period. Geode Capital Management LLC increased its position in Alphabet by 4.4% in the first quarter. Geode Capital Management LLC now owns 2,552,124 shares of the company’s stock valued at $1,943,342,000 after buying an additional 106,872 shares during the period. BlackRock Group LTD increased its position in Alphabet by 0.5% in the first quarter. BlackRock Group LTD now owns 2,332,888 shares of the company’s stock valued at $1,779,758,000 after buying an additional 12,105 shares during the period. Finally, American Century Companies Inc. increased its position in Alphabet by 1.7% in the second quarter. American Century Companies Inc. now owns 2,259,364 shares of the company’s stock valued at $1,589,530,000 after buying an additional 37,327 shares during the period. Institutional investors and hedge funds own 34.28% of the company’s stock.
About Alphabet
Alphabet Inc is a holding company. The Company holds interests in Google Inc (Google). The Company’s segments include Google and Other Bets. Google segment includes Internet products, such as Search, Ads, Commerce, Maps, YouTube, Apps, Cloud, Android, Chrome, Google Play, and hardware products, including Chromecast, Chromebooks and Nexus, which are sold by the Company.

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