Stifel Nicolaus Downgrades Alphabet (NASDAQ:GOOGL) to Hold

Alphabet (NASDAQ:GOOGL) was downgraded by equities researchers at Stifel Nicolaus from a “buy” rating to a “hold” rating in a research report issued on Friday, MarketBeat reports. They currently have a $1,600.00 target price on the information services provider’s stock, up from their previous target price of $1,550.00. Stifel Nicolaus’ price objective would suggest a potential upside of 7.53% from the stock’s current price.

Several other research analysts have also issued reports on the company. Canaccord Genuity increased their price objective on Alphabet from $1,550.00 to $1,700.00 and gave the stock a “buy” rating in a research note on Wednesday, July 1st. JMP Securities increased their target price on Alphabet from $1,350.00 to $1,500.00 and gave the stock an “outperform” rating in a report on Wednesday, April 29th. Oppenheimer restated a “buy” rating and set a $1,445.00 target price on shares of Alphabet in a report on Wednesday, April 29th. SunTrust Banks increased their target price on Alphabet from $1,550.00 to $1,805.00 and gave the stock a “buy” rating in a report on Thursday, July 16th. Finally, Wells Fargo & Co restated a “buy” rating and set a $1,750.00 target price (up previously from $1,575.00) on shares of Alphabet in a report on Monday, July 27th. Four equities research analysts have rated the stock with a hold rating and forty have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $1,657.51.

Shares of NASDAQ GOOGL traded down $50.42 during trading hours on Friday, reaching $1,487.95. The stock had a trading volume of 4,576,382 shares, compared to its average volume of 1,580,507. The business’s fifty day moving average is $1,473.93 and its two-hundred day moving average is $1,375.65. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.66 and a quick ratio of 3.64. The company has a market cap of $1,015.70 billion, a price-to-earnings ratio of 32.72, a PEG ratio of 2.27 and a beta of 1.06. Alphabet has a twelve month low of $1,008.87 and a twelve month high of $1,587.05.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Thursday, July 30th. The information services provider reported $10.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.43 by $1.70. Alphabet had a return on equity of 15.77% and a net margin of 18.99%. The firm had revenue of $31.60 billion during the quarter, compared to analyst estimates of $30.58 billion. Sell-side analysts forecast that Alphabet will post 42.07 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Wintrust Investments LLC raised its position in shares of Alphabet by 13.3% during the first quarter. Wintrust Investments LLC now owns 978 shares of the information services provider’s stock worth $1,136,000 after purchasing an additional 115 shares during the period. Optimum Investment Advisors raised its position in Alphabet by 4.1% in the 1st quarter. Optimum Investment Advisors now owns 538 shares of the information services provider’s stock valued at $625,000 after buying an additional 21 shares during the last quarter. Harwood Advisory Group LLC raised its position in Alphabet by 32.1% in the 1st quarter. Harwood Advisory Group LLC now owns 420 shares of the information services provider’s stock valued at $487,000 after buying an additional 102 shares during the last quarter. Old North State Trust LLC raised its position in Alphabet by 36.1% in the 1st quarter. Old North State Trust LLC now owns 132 shares of the information services provider’s stock valued at $153,000 after buying an additional 35 shares during the last quarter. Finally, J. L. Bainbridge & Co. Inc. raised its position in Alphabet by 2.5% in the 1st quarter. J. L. Bainbridge & Co. Inc. now owns 14,100 shares of the information services provider’s stock valued at $16,383,000 after buying an additional 338 shares during the last quarter. 34.14% of the stock is currently owned by institutional investors.

About Alphabet

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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Analyst Recommendations for Alphabet (NASDAQ:GOOGL)

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