Vetr Inc. Upgrades Alphabet Inc. (GOOG) to “Strong-Buy”
Alphabet Inc. (NASDAQ:GOOG) was upgraded by analysts at Vetr from a “buy” rating to a “strong-buy” rating in a research note issued on Monday. The brokerage presently has a $1,031.46 price objective on the information services provider’s stock. Vetr‘s target price points to a potential upside of 12.87% from the stock’s current price.
GOOG has been the topic of a number of other reports. Canaccord Genuity cut Alphabet from a “buy” rating to a “hold” rating and set a $1,000.00 target price on the stock. in a research report on Thursday, June 15th. They noted that the move was a valuation call. Pivotal Research reiterated a “hold” rating and issued a $980.00 price objective (down from $990.00) on shares of Alphabet in a report on Monday, July 17th. BidaskClub upgraded Alphabet from a “hold” rating to a “buy” rating in a report on Friday. Susquehanna Bancshares Inc reiterated a “positive” rating and issued a $1,200.00 price objective on shares of Alphabet in a report on Wednesday, June 28th. Finally, Goldman Sachs Group, Inc. (The) reiterated a “buy” rating on shares of Alphabet in a report on Tuesday, July 25th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, forty have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $1,030.47.
Shares of Alphabet (NASDAQ GOOG) traded down 0.23% during mid-day trading on Monday, reaching $913.81. The company had a trading volume of 1,083,470 shares. The firm has a 50 day moving average of $934.52 and a 200-day moving average of $896.81. The stock has a market capitalization of $633.16 billion, a P/E ratio of 33.12 and a beta of 0.94. Alphabet has a one year low of $727.54 and a one year high of $988.25.
Alphabet (NASDAQ:GOOG) last posted its earnings results on Monday, July 24th. The information services provider reported $5.01 EPS for the quarter, beating the Zacks’ consensus estimate of $4.43 by $0.58. Alphabet had a return on equity of 13.66% and a net margin of 19.49%. The firm had revenue of $26.01 billion for the quarter, compared to analysts’ expectations of $25.61 billion. During the same period last year, the firm earned $8.42 EPS. The company’s quarterly revenue was up 21.0% on a year-over-year basis. Analysts forecast that Alphabet will post $30.60 EPS for the current fiscal year.
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In related news, Director L John Doerr sold 13,556 shares of the business’s stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $922.15, for a total transaction of $12,500,665.40. Following the completion of the transaction, the director now owns 3,485 shares in the company, valued at $3,213,692.75. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Sundar Pichai sold 4,000 shares of the business’s stock in a transaction on Wednesday, July 5th. The stock was sold at an average price of $903.86, for a total transaction of $3,615,440.00. Following the transaction, the chief executive officer now owns 1,911 shares of the company’s stock, valued at approximately $1,727,276.46. The disclosure for this sale can be found here. In the last quarter, insiders have sold 47,169 shares of company stock valued at $44,206,482. Insiders own 13.92% of the company’s stock.
Several institutional investors have recently modified their holdings of GOOG. Cambridge Advisors Inc. increased its position in Alphabet by 0.4% in the first quarter. Cambridge Advisors Inc. now owns 272 shares of the information services provider’s stock valued at $226,000 after buying an additional 1 shares in the last quarter. Capital Investment Advisory Services LLC increased its position in Alphabet by 0.4% in the second quarter. Capital Investment Advisory Services LLC now owns 253 shares of the information services provider’s stock valued at $230,000 after buying an additional 1 shares in the last quarter. Capital Advantage Inc. increased its position in Alphabet by 0.4% in the second quarter. Capital Advantage Inc. now owns 273 shares of the information services provider’s stock valued at $248,000 after buying an additional 1 shares in the last quarter. Howland Capital Management LLC increased its position in Alphabet by 0.3% in the first quarter. Howland Capital Management LLC now owns 637 shares of the information services provider’s stock valued at $528,000 after buying an additional 2 shares in the last quarter. Finally, Foster & Motley Inc. increased its position in Alphabet by 0.8% in the second quarter. Foster & Motley Inc. now owns 265 shares of the information services provider’s stock valued at $241,000 after buying an additional 2 shares in the last quarter. Hedge funds and other institutional investors own 34.54% of the company’s stock.
Alphabet Company Profile
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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