Alphabet Inc. (NASDAQ:GOOG) Rating Increased to Strong-Buy at Vetr Inc.
Alphabet Inc. (NASDAQ:GOOG) was upgraded by research analysts at Vetr from a “buy” rating to a “strong-buy” rating in a research note issued on Thursday. The firm presently has a $1,057.00 price objective on the information services provider’s stock. Vetr‘s target price suggests a potential upside of 13.16% from the stock’s current price.
Other equities research analysts have also issued reports about the company. UBS AG reissued a “buy” rating and set a $1,050.00 price objective (up from $980.00) on shares of Alphabet in a research note on Friday, April 28th. Citigroup Inc. reissued a “buy” rating and set a $1,180.00 price objective on shares of Alphabet in a research note on Thursday. Canaccord Genuity reissued a “hold” rating and set a $1,000.00 price objective on shares of Alphabet in a research note on Thursday. BMO Capital Markets reissued a “market perform” rating and set a $970.00 price objective on shares of Alphabet in a research note on Thursday. Finally, B. Riley reissued a “buy” rating and set a $1,050.00 price objective (up from $1,032.00) on shares of Alphabet in a research note on Thursday. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, forty-one have assigned a buy rating and two have assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $1,012.23.
Alphabet (NASDAQ:GOOG) traded down 1.45% during mid-day trading on Thursday, reaching $934.09. The company’s stock had a trading volume of 3,212,996 shares. Alphabet has a 52 week low of $727.54 and a 52 week high of $988.25. The firm has a market capitalization of $646.15 billion, a P/E ratio of 31.56 and a beta of 0.94. The firm’s 50 day moving average price is $945.27 and its 200 day moving average price is $880.29. Alphabet also was the recipient of some unusual options trading on Monday. Stock investors purchased 19,762 put options on the company. This is an increase of 232% compared to the typical volume of 5,961 put options.
Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Monday, July 24th. The information services provider reported $5.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.43 by $0.58. The firm had revenue of $26.01 billion during the quarter, compared to analyst estimates of $25.61 billion. Alphabet had a return on equity of 13.66% and a net margin of 19.49%. The firm’s quarterly revenue was up 21.0% on a year-over-year basis. During the same period last year, the company posted $8.42 EPS. On average, analysts anticipate that Alphabet will post $31.00 EPS for the current fiscal year.
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In other Alphabet news, CEO Sundar Pichai sold 4,000 shares of Alphabet stock in a transaction that occurred on Wednesday, July 19th. The stock was sold at an average price of $969.92, for a total transaction of $3,879,680.00. Following the sale, the chief executive officer now directly owns 1,536 shares of the company’s stock, valued at $1,489,797.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP James Grier Campbell sold 366 shares of Alphabet stock in a transaction that occurred on Monday, May 1st. The shares were sold at an average price of $902.72, for a total value of $330,395.52. The disclosure for this sale can be found here. Over the last three months, insiders have sold 46,268 shares of company stock worth $43,494,737. 13.92% of the stock is owned by company insiders.
A number of large investors have recently added to or reduced their stakes in the stock. Marietta Wealth Management LLC bought a new stake in Alphabet during the fourth quarter worth $235,000. Gardner Russo & Gardner LLC increased its stake in Alphabet by 43.7% in the fourth quarter. Gardner Russo & Gardner LLC now owns 2,449 shares of the information services provider’s stock worth $1,890,000 after buying an additional 745 shares during the last quarter. InterOcean Capital LLC increased its stake in Alphabet by 10.9% in the fourth quarter. InterOcean Capital LLC now owns 15,694 shares of the information services provider’s stock worth $12,113,000 after buying an additional 1,537 shares during the last quarter. Parallel Advisors LLC bought a new stake in Alphabet during the fourth quarter worth $2,036,000. Finally, Brenner West Capital Advisors LP bought a new stake in Alphabet during the fourth quarter worth $102,649,000. 34.60% 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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