Alphabet (NASDAQ:GOOGL) Now Covered by Analysts at Rosenblatt Securities

Rosenblatt Securities initiated coverage on shares of Alphabet (NASDAQ:GOOGLGet Rating) in a report issued on Tuesday, The Fly reports. The firm set a “buy” rating and a $4,183.00 price target on the information services provider’s stock. Rosenblatt Securities’ target price suggests a potential upside of 63.81% from the company’s current price.

A number of other analysts have also issued reports on the stock. Wedbush lifted their price target on shares of Alphabet from $3,530.00 to $3,800.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 2nd. Mizuho lifted their price target on shares of Alphabet from $3,350.00 to $3,600.00 and gave the stock a “buy” rating in a research note on Wednesday, February 2nd. Royal Bank of Canada lifted their price target on shares of Alphabet from $3,400.00 to $3,500.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 2nd. Sanford C. Bernstein lifted their price target on shares of Alphabet from $3,250.00 to $3,500.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 2nd. Finally, MKM Partners dropped their price target on shares of Alphabet from $3,375.00 to $3,300.00 and set a “buy” rating for the company in a research note on Thursday, April 14th. Five equities research analysts have rated the stock with a hold rating, thirty-four have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $3,402.72.

GOOGL opened at $2,553.53 on Tuesday. The firm has a market capitalization of $1.69 trillion, a P/E ratio of 22.75, a P/E/G ratio of 1.10 and a beta of 1.06. The firm’s 50 day moving average is $2,685.98 and its 200-day moving average is $2,788.50. Alphabet has a 52-week low of $2,193.62 and a 52-week high of $3,030.93. The company has a quick ratio of 2.91, a current ratio of 2.93 and a debt-to-equity ratio of 0.06.

Alphabet’s stock is scheduled to split before the market opens on Monday, July 18th. The 20-1 split was announced on Tuesday, February 1st. The newly minted shares will be issued to shareholders after the market closes on Friday, July 15th.

Alphabet (NASDAQ:GOOGLGet Rating) last posted its quarterly earnings data on Tuesday, February 1st. The information services provider reported $30.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $26.69 by $4.00. The company had revenue of $61.90 billion for the quarter, compared to analyst estimates of $59.32 billion. Alphabet had a net margin of 29.51% and a return on equity of 31.56%. During the same quarter last year, the firm posted $22.30 earnings per share. Equities analysts expect that Alphabet will post 116.69 earnings per share for the current fiscal year.

In other Alphabet news, Director Brin Sergey sold 2,710 shares of the company’s stock in a transaction dated Wednesday, April 13th. The shares were sold at an average price of $2,600.32, for a total value of $7,046,867.20. Following the completion of the sale, the director now directly owns 18,571,041 shares of the company’s stock, valued at approximately $48,290,649,333.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder 2016 Gp L.L.C. Gv sold 544,249 shares of the company’s stock in a transaction dated Monday, April 11th. The shares were sold at an average price of $11.16, for a total transaction of $6,073,818.84. The disclosure for this sale can be found here. Insiders sold 549,598 shares of company stock valued at $20,067,273 in the last ninety days. Corporate insiders own 11.70% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of GOOGL. Norges Bank acquired a new stake in Alphabet in the 4th quarter valued at about $14,477,662,000. Nordea Investment Management AB lifted its stake in Alphabet by 102.6% during the third quarter. Nordea Investment Management AB now owns 1,258,061 shares of the information services provider’s stock valued at $3,400,261,000 after buying an additional 637,153 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new position in shares of Alphabet in the fourth quarter worth about $1,680,864,000. Fortis Advisors LLC increased its position in shares of Alphabet by 149,779.0% in the third quarter. Fortis Advisors LLC now owns 535,068 shares of the information services provider’s stock worth $1,508,000 after acquiring an additional 534,711 shares in the last quarter. Finally, Fundsmith LLP acquired a new stake in shares of Alphabet during the fourth quarter valued at approximately $1,214,138,000. 34.47% of the stock is owned by institutional investors.

About Alphabet (Get Rating)

Alphabet Inc provides various products and platforms in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment offers products and services, including ads, Android, Chrome, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.

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