Alphabet Inc (GOOG) Stock Rating Upgraded by Vetr Inc.
Alphabet Inc (NASDAQ:GOOG) was upgraded by investment analysts at Vetr from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Monday. The brokerage currently has a $891.70 price target on the stock. Vetr‘s price objective points to a potential upside of 5.12% from the company’s previous close.
GOOG has been the subject of a number of other research reports. Needham & Company LLC raised their price target on shares of Alphabet from $925.00 to $935.00 and gave the stock a “buy” rating in a research report on Friday, January 27th. Susquehanna Bancshares Inc reissued a “positive” rating and set a $1,000.00 price target on shares of Alphabet in a research report on Tuesday, January 31st. Royal Bank of Canada reissued an “outperform” rating on shares of Alphabet in a research report on Monday, March 6th. Societe Generale reissued a “buy” rating on shares of Alphabet in a research report on Thursday, February 2nd. Finally, Goldman Sachs Group Inc reissued a “buy” rating and set a $970.00 price target on shares of Alphabet in a research report on Thursday, December 29th. One analyst has rated the stock with a sell rating, three have issued a hold rating and forty-two have given a buy rating to the company’s stock. Alphabet has a consensus rating of “Buy” and an average target price of $960.20.
Shares of Alphabet (NASDAQ:GOOG) traded down 0.44% during trading on Monday, hitting $848.40. 1,231,521 shares of the stock were exchanged. Alphabet has a 12-month low of $663.28 and a 12-month high of $853.40. The stock has a market cap of $586.60 billion, a P/E ratio of 30.43 and a beta of 0.94. The stock has a 50-day moving average of $824.43 and a 200 day moving average of $793.16.
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Alphabet (NASDAQ:GOOG) last released its quarterly earnings results on Thursday, January 26th. The company reported $9.36 earnings per share for the quarter, missing analysts’ consensus estimates of $9.67 by $0.31. Alphabet had a return on equity of 14.85% and a net margin of 21.58%. The company had revenue of $26.04 billion for the quarter, compared to analyst estimates of $25.18 billion. During the same period in the previous year, the business posted $8.67 EPS. The firm’s quarterly revenue was up 22.2% compared to the same quarter last year. Equities analysts predict that Alphabet will post $33.36 earnings per share for the current fiscal year.
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In other Alphabet news, CEO Lawrence Page sold 66,664 shares of the business’s stock in a transaction dated Thursday, December 22nd. The stock was sold at an average price of $799.90, for a total transaction of $53,324,533.60. Following the sale, the chief executive officer now owns 30,666 shares in the company, valued at approximately $24,529,733.40. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Sundar Pichai sold 4,000 shares of the business’s stock in a transaction dated Wednesday, December 21st. The stock was sold at an average price of $797.70, for a total value of $3,190,800.00. Following the sale, the chief executive officer now owns 2,563 shares in the company, valued at approximately $2,044,505.10. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 585,906 shares of company stock worth $471,330,236. Corporate insiders own 13.92% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the stock. Signature Estate & Investment Advisors LLC acquired a new position in Alphabet during the third quarter valued at $102,000. Empirical Finance LLC acquired a new position in Alphabet during the fourth quarter valued at $115,000. Mesirow Financial Investment Management Equity Management acquired a new position in Alphabet during the second quarter valued at $121,000. Quantbot Technologies LP boosted its position in Alphabet by 64.2% in the third quarter. Quantbot Technologies LP now owns 156 shares of the company’s stock valued at $121,000 after buying an additional 61 shares during the period. Finally, Whitnell & Co. boosted its position in Alphabet by 20.6% in the second quarter. Whitnell & Co. now owns 187 shares of the company’s stock valued at $129,000 after buying an additional 32 shares during the period. 34.74% of the stock is currently owned by institutional investors.
Alphabet Inc is a holding company. The Company’s businesses include Google Inc (Google) and its Internet products, such as Access, Calico, CapitalG, GV, Nest, Verily, Waymo and X. The Company’s segments include Google and Other Bets. The Google segment includes its Internet products, such as Search, Ads, Commerce, Maps, YouTube, Google Cloud, Android, Chrome and Google Play, as well as its hardware initiatives.
To view Vetr’s full report, visit Vetr’s official website.
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