Wolfe Research Initiates Coverage of Alphabet (BIT:1GOOGL) with Outperform Recommendation

Fintel reports that on July 16, 2024, Wolfe Research initiated coverage of Alphabet (BIT:1GOOGL) with a Outperform recommendation.

Analyst Price Forecast Suggests 6.81% Upside

As of July 4, 2024, the average one-year price target for Alphabet is €183.42/share. The forecasts range from a low of €133.41 to a high of €218.22. The average price target represents an increase of 6.81% from its latest reported closing price of €171.72 / share.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Alphabet is 350,539MM. The projected annual non-GAAP EPS is 6.89.

What is the Fund Sentiment?

There are 6,245 funds or institutions reporting positions in Alphabet. This is an increase of 309 owner(s) or 5.21% in the last quarter. Average portfolio weight of all funds dedicated to 1GOOGL is 1.81%, an increase of 0.39%. Total shares owned by institutions decreased in the last three months by 1.03% to 5,007,076K shares.

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 1GOOGL 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 1GOOGL 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 1GOOGL 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 1GOOGL 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 1GOOGL by 3.51% over the last quarter.

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This story originally appeared on Fintel.

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