Alphabet (GOOGL) Downgraded by Vetr to Hold

Alphabet (NASDAQ:GOOGL) was downgraded by stock analysts at Vetr from a “buy” rating to a “hold” rating in a research report issued on Thursday. They presently have a $1,137.28 target price on the information services provider’s stock. Vetr‘s target price indicates a potential upside of 3.79% from the company’s previous close.

GOOGL has been the topic of a number of other research reports. CIBC reissued an “outperform” rating and issued a $1,180.00 target price (up previously from $1,050.00) on shares of Alphabet in a research note on Friday, October 27th. Pivotal Research reissued a “hold” rating and issued a $970.00 target price on shares of Alphabet in a research note on Friday, October 13th. UBS Group reaffirmed a “buy” rating and set a $1,080.00 price objective on shares of Alphabet in a research note on Friday, September 8th. Citigroup reaffirmed a “buy” rating and set a $1,180.00 price objective on shares of Alphabet in a research note on Tuesday, October 24th. They noted that the move was a valuation call. Finally, Credit Suisse Group reaffirmed an “outperform” rating on shares of Alphabet in a research note on Wednesday, October 11th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, forty have given a buy rating and one has given a strong buy rating to the stock. Alphabet presently has a consensus rating of “Buy” and a consensus target price of $1,096.47.

Alphabet (GOOGL) traded up $4.24 on Thursday, reaching $1,095.76. The company had a trading volume of 1,289,293 shares, compared to its average volume of 1,510,000. The company has a market capitalization of $758,160.00, a PE ratio of 36.50, a PEG ratio of 1.40 and a beta of 0.90. The company has a current ratio of 5.77, a quick ratio of 5.73 and a debt-to-equity ratio of 0.03. Alphabet has a 1-year low of $804.11 and a 1-year high of $1,104.08.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Thursday, October 26th. The information services provider reported $9.57 EPS for the quarter, beating the Zacks’ consensus estimate of $8.43 by $1.14. The business had revenue of $22.27 billion for the quarter, compared to analysts’ expectations of $21.94 billion. Alphabet had a return on equity of 14.26% and a net margin of 20.09%. During the same quarter in the prior year, the firm earned $9.06 earnings per share. equities research analysts predict that Alphabet will post 32.34 EPS for the current year.

Hedge funds have recently added to or reduced their stakes in the company. Pure Financial Advisors Inc. grew its position in shares of Alphabet by 0.4% during the 2nd quarter. Pure Financial Advisors Inc. now owns 278 shares of the information services provider’s stock valued at $258,000 after acquiring an additional 1 shares during the period. First Bank & Trust lifted its stake in shares of Alphabet by 0.3% during the 2nd quarter. First Bank & Trust now owns 764 shares of the information services provider’s stock valued at $710,000 after buying an additional 2 shares in the last quarter. Fort Pitt Capital Group LLC lifted its stake in shares of Alphabet by 0.3% during the 2nd quarter. Fort Pitt Capital Group LLC now owns 723 shares of the information services provider’s stock valued at $672,000 after buying an additional 2 shares in the last quarter. RB Capital Management LLC lifted its stake in shares of Alphabet by 0.4% during the 2nd quarter. RB Capital Management LLC now owns 704 shares of the information services provider’s stock valued at $654,000 after buying an additional 3 shares in the last quarter. Finally, Town & Country Bank & Trust CO dba First Bankers Trust CO lifted its stake in shares of Alphabet by 0.7% during the 2nd quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 422 shares of the information services provider’s stock valued at $392,000 after buying an additional 3 shares in the last quarter. Hedge funds and other institutional investors own 33.55% of the company’s stock.

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About Alphabet

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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