Published: Mon, January 30, 2017
Tech | By Dwayne Harmon

Alphabet's sexiest projects still aren't making it money

Several hedge funds and other institutional investors have recently added to or reduced their stakes in GOOGL.

Chevron (CVX) swung to a profit in the fourth quarter as the company cut expenses and oil prices rebounded.

Alphabet's quarterly earnings missed Wall Street estimates on Thursday. MCF Advisors LLC boosted its stake in Alphabet by 1.9% in the second quarter. Let's take a deeper look at what the company's been up to this quarter.

Alphabet's shares have climbed almost 17 percent over the past twelve months. Archford Capital Strategies LLC now owns 148 shares of the company's stock worth $104,000 after buying an additional 34 shares during the last quarter.

Alphabet shares closed Friday at $845.03, with a consensus price target of $969.86 and a 52-week range of $672.66 to $866.91. Alphabet Inc. The stock has a market capitalization of $568.77 billion, a PE ratio of 30.20 and a beta of 0.89. The stock's 50 day moving average is $797.67 and its 200-day moving average is $786.22.

"However, it's important", said Porat, "to note the cost of revenues was also affected by approximately $320 million of one-time charges related to equipment and other adjustments which were unrelated to hardware". Just in case there was any doubt, Alphabet is a search and advertising company through and through. Analysts had expected earnings of about $9.64 per share on $25.26 billion in revenue, according to a consensus estimate from Thomson Reuters.

Google faced a higher tax rate of 22 percent in the fourth quarter, compared to 19 percent for the year overall, making a dent in profits. It lost $1.21 billion in the fourth quarter of a year ago, and just $1.08 billion for the same period in 2016. On average, analysts forecast that Alphabet Inc. will post $34.48 EPS for the current year. If you are accessing this piece of content on another domain, it was illegally copied and reposted in violation of worldwide copyright and trademark law. If you are accessing this piece on another site, it was stolen and reposted in violation of US and global copyright and trademark law. The legal version of this piece can be read at

Behind Alphabet's strong growth were mobile and video advertising.

At least 11 brokerages raised their price targets on Alphabet's stock, which now has a median price target of $992.50 - indicating a 15.8 percent upside to the stock's Thursday close. One research analyst has rated the stock with a sell rating, two have issued a hold rating, forty-three have issued a buy rating and three have issued a strong buy rating to the company's stock.

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