Trading Report: The Axiom Securities Increases Alphabet Inc. (GOOGL) Price Target to $1,000.00

The Axiom Securities Increases Alphabet Inc. (GOOGL) Price Target to $1,000.00

Alphabet Inc. (NASDAQ:GOOGL) had its price objective hoisted by analysts at Axiom Securities from $990.00 to $1,000.00 in a report released on Monday. The firm presently has a “buy” rating on the stock. Axiom Securities’ target price would indicate a potential upside of 23.52% from the company’s current price.

Several other equities analysts have also weighed in on the stock. Raymond James Financial Inc. reissued an “outperform” rating on shares of Alphabet in a research report on Friday, October 7th. Needham & Company LLC reaffirmed a “buy” rating and set a $900.00 price target on shares of Alphabet in a research report on Friday, October 7th. Robert W. Baird reaffirmed an “outperform” rating and set a $900.00 price target on shares of Alphabet in a research report on Wednesday, October 5th. SunTrust Banks Inc. reaffirmed a “buy” rating and set a $900.00 price target on shares of Alphabet in a research report on Wednesday, October 5th. Finally, Macquarie reaffirmed an “outperform” rating and set a $975.00 price target on shares of Alphabet in a research report on Wednesday, October 5th. One research analyst has rated the stock with a sell rating, one has given a hold rating, forty-seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $926.27.

Alphabet (NASDAQ:GOOGL) opened at 809.57 on Monday. The stock’s 50 day moving average is $800.52 and its 200-day moving average is $760.57. The firm has a market capitalization of $556.40 billion, a price-to-earnings ratio of 31.37 and a beta of 1.00. Alphabet has a 12 month low of $670.70 and a 12 month high of $819.86.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Thursday, July 28th. The company reported $8.42 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $8.04 by $0.38. Alphabet had a net margin of 22.00% and a return on equity of 14.74%. Equities analysts anticipate that Alphabet will post $34.11 earnings per share for the current fiscal year.

Large investors have recently made changes to their positions in the stock. Carroll Financial Associates Inc. boosted its position in Alphabet by 2.9% in the first quarter. Carroll Financial Associates Inc. now owns 538 shares of the company’s stock valued at $410,000 after buying an additional 15 shares during the period. City Holding Co. boosted its position in Alphabet by 3.8% in the first quarter. City Holding Co. now owns 383 shares of the company’s stock valued at $292,000 after buying an additional 14 shares during the period. Cohen Lawrence B boosted its position in Alphabet by 0.9% in the first quarter. Cohen Lawrence B now owns 344 shares of the company’s stock valued at $262,000 after buying an additional 3 shares during the period. Tompkins Financial Corp boosted its position in Alphabet by 2.8% in the first quarter. Tompkins Financial Corp now owns 2,203 shares of the company’s stock valued at $1,681,000 after buying an additional 59 shares during the period. Finally, Raymond James Trust N.A. boosted its position in Alphabet by 5.0% in the first quarter. Raymond James Trust N.A. now owns 4,394 shares of the company’s stock valued at $3,352,000 after buying an additional 210 shares during the period. Hedge funds and other institutional investors own 34.12% of the company’s stock.

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