Alphabet shares pass $1000 milestone for the first time
- Author: Zachary Reyes Jun 06, 2017,
Jun 06, 2017, 3:25
Alphabet Inc (NASDAQ:GOOG)'s stock had its "outperform" rating reaffirmed by Wells Fargo & Co in a research note issued on Tuesday, May 23rd. The brokerage now has a buy rating on the information services provider's stock. Royal Bank of Canada's price objective points to a potential upside of 5.41% from the company's previous close.
The company also reported that its internet services obtained an increasing share of digital ads from partner sites. On a consensus basis, analysts have given a recommendation of 1.80 on company shares.
Aegis reiterated their buy rating on shares of Alphabet Inc (NASDAQ:GOOGL) in a report issued on Monday, May 22nd. FBN Securities reduced their price target on Alphabet from $1,050.00 to $1,025.00 and set an outperform rating on the stock in a research report on Thursday, April 6th. Covering sell-side analysts are estimating company growth for next year to be 19.38%. The company now has a consensus rating of "Buy" and a consensus target price of $981.49. William Blair restated an outperform rating on shares of Alphabet in a research note on Friday, March 3rd. The firm's 50 day moving average price is $938.19 and its 200-day moving average price is $854.44. Alphabet has a 52-week low of $672.66 and a 52-week high of $997.62. The company has a market cap of $674.87 billion, a PE ratio of 32.97 and a beta of 0.94.
Class A shares of Alphabet, the parent company of Google, broke $1,000 in early trading Monday. Alphabet had a return on equity of 14.85% and a net margin of 21.58%. During the same quarter in the prior year, the firm earned $7.50 earnings per share. On average, equities research analysts anticipate that Alphabet will post $33.95 EPS for the current fiscal year.
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Other analysts also recently issued reports about the stock.
Shares of Alphabet (NASDAQ GOOGL) traded up 0.76% during midday trading on Monday, hitting $1003.65. Carmignac Gestion raised its stake in shares of Alphabet by 0.9% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 7,897,508 shares of the information services provider's stock valued at $6,138,654,000 after buying an additional 138,807 shares in the last quarter. Kentucky Retirement Systems acquired a new position in shares of Alphabet during the fourth quarter valued at $17,027,000. Carmignac Gestion now owns 457,186 shares of the information services provider's stock valued at $355,366,000 after buying an additional 4,300 shares during the period. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC now owns 115,698 shares of the information services provider's stock valued at $116,000 after buying an additional 115,537 shares in the last quarter. Delta Asset Management LLC TN increased its stake in shares of Alphabet by 1.5% in the first quarter. Finally, Sumitomo Mitsui Financial Group Inc. acquired a new stake in shares of Alphabet during the first quarter worth about $127,000. MD now owns 9,831,305 shares of the information services provider's stock valued at $7,641,775,000 after buying an additional 65,873 shares in the last quarter.
Alphabet Company Profile Alphabet Inc is a holding company.