Fintel reports that on July 16, 2024, Wolfe Research initiated coverage of Alphabet (NasdaqGS:GOOGL) with a Outperform recommendation.
Analyst Price Forecast Suggests 7.97% Upside
As of July 4, 2024, the average one-year price target for Alphabet is $198.58/share. The forecasts range from a low of $144.43 to a high of $236.25. The average price target represents an increase of 7.97% from its latest reported closing price of $183.92 / share.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Alphabet is 357,571MM, an increase of 12.39%. The projected annual non-GAAP EPS is 6.37.
What is the Fund Sentiment?
There are 6,253 funds or institutions reporting positions in Alphabet. This is an increase of 302 owner(s) or 5.07% in the last quarter. Average portfolio weight of all funds dedicated to GOOGL is 1.81%, an increase of 0.13%. Total shares owned by institutions decreased in the last three months by 1.16% to 5,007,076K shares. 
The put/call ratio of GOOGL is 0.88, indicating a bullish outlook.
What are Other Shareholders Doing?
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 185,355K shares representing 1.50% ownership of the company. In its prior filing, the firm reported owning 185,764K shares , representing a decrease of 0.22%. The firm decreased its portfolio allocation in GOOGL by 1.71% over the last quarter.
VFINX - Vanguard 500 Index Fund Investor Shares holds 148,502K shares representing 1.20% ownership of the company. In its prior filing, the firm reported owning 144,564K shares , representing an increase of 2.65%. The firm decreased its portfolio allocation in GOOGL by 2.14% over the last quarter.
Geode Capital Management holds 129,133K shares representing 1.04% ownership of the company. In its prior filing, the firm reported owning 125,777K shares , representing an increase of 2.60%. The firm decreased its portfolio allocation in GOOGL by 1.93% over the last quarter.
Price T Rowe Associates holds 99,641K shares representing 0.81% ownership of the company. In its prior filing, the firm reported owning 106,409K shares , representing a decrease of 6.79%. The firm decreased its portfolio allocation in GOOGL by 7.71% over the last quarter.
Wellington Management Group Llp holds 73,124K shares representing 0.59% ownership of the company. In its prior filing, the firm reported owning 77,726K shares , representing a decrease of 6.29%. The firm decreased its portfolio allocation in GOOGL by 3.51% over the last quarter.
Alphabet Background Information
(This description is provided by the company.)
Larry Page and Sergey Brin founded Google in September 1998. Since then, the company has grown to more than 130,000 employees worldwide, with a wide range of popular products and platforms like Search, Maps, Ads, Gmail, Android, Chrome, Google Cloud and YouTube. In October 2015, Alphabet became the parent holding company of Google.
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