Susquehanna Bancshares Increases Alphabet (NASDAQ:GOOGL) Price Target to $1,850.00

Alphabet (NASDAQ:GOOGL) had its target price upped by analysts at Susquehanna Bancshares from $1,550.00 to $1,850.00 in a note issued to investors on Friday, Briefing.com Automated Import reports. The firm presently has a “positive” rating on the information services provider’s stock. Susquehanna Bancshares’ price objective points to a potential upside of 24.33% from the stock’s previous close.

A number of other equities research analysts also recently issued reports on GOOGL. Wells Fargo & Co reaffirmed a “buy” rating and set a $1,750.00 price target (up previously from $1,575.00) on shares of Alphabet in a research note on Monday, July 27th. Nomura Instinet increased their price target on shares of Alphabet from $1,680.00 to $1,700.00 and gave the company a “buy” rating in a report on Wednesday, April 29th. JMP Securities boosted their price objective on Alphabet from $1,350.00 to $1,500.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 29th. Mizuho upped their price objective on Alphabet from $1,650.00 to $1,750.00 and gave the company a “buy” rating in a research report on Tuesday, July 21st. Finally, Nomura lifted their target price on Alphabet from $1,680.00 to $1,700.00 in a report on Wednesday, April 29th. Four equities research analysts have rated the stock with a hold rating and forty have given a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $1,657.51.

NASDAQ:GOOGL opened at $1,487.95 on Friday. The business’s 50-day moving average is $1,473.93 and its 200 day moving average is $1,375.65. Alphabet has a 12 month low of $1,008.87 and a 12 month high of $1,587.05. The company has a market capitalization of $1,015.70 billion, a P/E ratio of 32.72, a P/E/G ratio of 2.27 and a beta of 1.06. The company has a current ratio of 3.66, a quick ratio of 3.64 and a debt-to-equity ratio of 0.08.

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 Zacks’ consensus estimate of $8.43 by $1.70. The business had revenue of $31.60 billion for the quarter, compared to the consensus estimate of $30.58 billion. Alphabet had a return on equity of 15.77% and a net margin of 18.99%. On average, research analysts forecast that Alphabet will post 42.07 earnings per share for the current year.

Large investors have recently modified their holdings of the stock. Spence Asset Management raised its holdings in Alphabet by 45.5% in the first quarter. Spence Asset Management now owns 32 shares of the information services provider’s stock worth $37,000 after purchasing an additional 10 shares in the last quarter. OmniStar Financial Group Inc. purchased a new position in shares of Alphabet in the 1st quarter worth approximately $44,000. Cedar Mountain Advisors LLC grew its position in shares of Alphabet by 26.9% in the 2nd quarter. Cedar Mountain Advisors LLC now owns 33 shares of the information services provider’s stock worth $47,000 after buying an additional 7 shares during the last quarter. Center for Financial Planning Inc. raised its stake in shares of Alphabet by 35.5% during the 1st quarter. Center for Financial Planning Inc. now owns 42 shares of the information services provider’s stock worth $49,000 after acquiring an additional 11 shares in the last quarter. Finally, Danda Trouve Investment Management Inc. lifted its position in Alphabet by 42.9% during the first quarter. Danda Trouve Investment Management Inc. now owns 50 shares of the information services provider’s stock valued at $58,000 after acquiring an additional 15 shares during the last quarter. 34.14% of the stock is owned by institutional investors.

Alphabet Company Profile

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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