Alphabet (GOOGL) Upgraded to Buy at Vetr
Alphabet (NASDAQ:GOOGL) was upgraded by investment analysts at Vetr from a “hold” rating to a “buy” rating in a report issued on Monday. The firm currently has a $1,055.90 target price on the information services provider’s stock. Vetr‘s price target suggests a potential upside of 4.35% from the company’s current price.
A number of other research analysts have also commented on GOOGL. Cowen reiterated an “outperform” rating and set a $1,075.00 price objective on shares of Alphabet in a research note on Thursday, August 10th. Bank of America reiterated a “buy” rating and set a $1,100.00 price objective on shares of Alphabet in a research note on Tuesday, September 26th. B. Riley reiterated a “buy” rating and set a $1,050.00 price objective on shares of Alphabet in a research note on Monday, September 25th. Wells Fargo & Company restated an “outperform” rating and set a $1,250.00 target price on shares of Alphabet in a report on Wednesday, September 27th. Finally, SunTrust Banks assumed coverage on shares of Alphabet in a report on Tuesday, August 15th. They set a “buy” rating and a $1,100.00 target price for the company. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, forty have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $1,089.17.
Alphabet (NASDAQ GOOGL) traded down $13.20 during midday trading on Monday, hitting $1,011.87. 1,938,555 shares of the company were exchanged, compared to its average volume of 1,629,794. Alphabet has a fifty-two week low of $766.97 and a fifty-two week high of $1,080.00. The company has a quick ratio of 5.73, a current ratio of 5.77 and a debt-to-equity ratio of 0.03. The firm has a market capitalization of $697,910.00, a price-to-earnings ratio of 34.32, a PEG ratio of 1.72 and a beta of 0.90.
Hedge funds have recently added to or reduced their stakes in the business. State of Alaska Department of Revenue purchased a new stake in Alphabet in the 2nd quarter worth approximately $102,000. Franklin Parlapiano Turner & Welch LLC purchased a new stake in Alphabet in the 1st quarter worth approximately $108,000. Parkside Financial Bank & Trust lifted its position in Alphabet by 39.6% in the 2nd quarter. Parkside Financial Bank & Trust now owns 127 shares of the information services provider’s stock worth $118,000 after buying an additional 36 shares in the last quarter. Odey Holdings AG lifted its position in Alphabet by 18.2% in the 2nd quarter. Odey Holdings AG now owns 130 shares of the information services provider’s stock worth $121,000 after buying an additional 20 shares in the last quarter. Finally, Stelac Advisory Services LLC bought a new position in shares of Alphabet during the 3rd quarter valued at $126,000. Institutional investors own 33.62% of the company’s stock.
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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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