The Deutsche Bank AG Reiterates “Buy” Rating for Alphabet Inc. (GOOGL)

The Deutsche Bank AG Reiterates “Buy” Rating for Alphabet Inc. (GOOGL)

Alphabet Inc. (NASDAQ:GOOGL)‘s stock had its “buy” rating reissued by equities researchers at Deutsche Bank AG in a research report issued on Wednesday. They currently have a $1,050.00 price objective on the stock. Deutsche Bank AG’s target price would suggest a potential upside of 30.58% from the company’s previous close.

A number of other research firms also recently weighed in on GOOGL. Robert W. Baird restated a “buy” rating on shares of Alphabet in a research note on Sunday, July 17th. Credit Suisse Group AG restated a “buy” rating and issued a $920.00 price target on shares of Alphabet in a research note on Sunday, July 17th. Bank of America Corp. restated a “buy” rating and issued a $925.00 price target on shares of Alphabet in a research note on Sunday, July 17th. B. Riley restated a “buy” rating and issued a $950.00 price target on shares of Alphabet in a research note on Friday, July 29th. Finally, Needham & Company LLC restated a “buy” rating and issued a $900.00 price target (up from $825.00) on shares of Alphabet in a research note on Sunday, July 31st. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, forty-seven have given a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $926.50.

Shares of Alphabet (NASDAQ:GOOGL) opened at 804.08 on Wednesday. The stock’s 50 day moving average price is $801.26 and its 200-day moving average price is $761.24. The company has a market capitalization of $552.62 billion, a PE ratio of 31.16 and a beta of 1.00. Alphabet has a 52-week low of $670.70 and a 52-week high of $819.86.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data on Thursday, July 28th. The company reported $8.42 earnings per share (EPS) for the quarter, topping 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, analysts expect that Alphabet will post $34.11 earnings per share for the current year.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC increased its position in Alphabet by 97.3% in the second quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC now owns 146 shares of the company’s stock worth $102,000 after buying an additional 72 shares during the period. Archford Capital Strategies LLC raised its stake in shares of Alphabet by 29.8% in the second quarter. Archford Capital Strategies LLC now owns 148 shares of the company’s stock worth $104,000 after buying an additional 34 shares in the last quarter. Roble Belko & Company Inc raised its stake in shares of Alphabet by 294.9% in the second quarter. Roble Belko & Company Inc now owns 154 shares of the company’s stock worth $108,000 after buying an additional 115 shares in the last quarter. MCF Advisors LLC raised its stake in shares of Alphabet by 1.9% in the second quarter. MCF Advisors LLC now owns 159 shares of the company’s stock worth $112,000 after buying an additional 3 shares in the last quarter. Finally, Point72 Asia Hong Kong Ltd bought a new stake in shares of Alphabet during the second quarter worth approximately $117,000. 34.12% of the stock is currently owned by institutional investors and hedge funds.

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