Vetr Inc. Lowers Alphabet Inc. (GOOG) to Buy
Vetr lowered shares of Alphabet Inc. (NASDAQ:GOOG) from a strong-buy rating to a buy rating in a report published on Tuesday morning. The brokerage currently has $847.07 price objective on the stock.
Several other equities analysts have also recently issued reports on GOOG. TheStreet upgraded Alphabet from a hold rating to a buy rating in a research note on Monday, July 18th. Goldman Sachs Group Inc. set a $810.00 target price on Alphabet and gave the company a buy rating in a research note on Wednesday, July 20th. MKM Partners reiterated a buy rating and issued a $930.00 target price on shares of Alphabet in a research note on Tuesday, July 26th. Jefferies Group reiterated a buy rating and issued a $1,000.00 target price (up from $925.00) on shares of Alphabet in a research note on Friday, July 29th. Finally, Needham & Company LLC raised their target price on Alphabet from $825.00 to $900.00 and gave the company a buy rating in a research note on Friday, July 29th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and forty-four have issued a buy rating to the company. Alphabet currently has a consensus rating of Buy and an average target price of $940.42.
Alphabet (NASDAQ:GOOG) opened at 771.23 on Tuesday. Alphabet has a 1-year low of $663.06 and a 1-year high of $816.68. The stock’s 50 day moving average is $780.58 and its 200-day moving average is $749.07. The firm has a market capitalization of $531.56 billion, a PE ratio of 28.23 and a beta of 1.01.
Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data on Thursday, October 27th. The company reported $9.06 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $8.62 by $0.44. Alphabet had a return on equity of 15.08% and a net margin of 22.29%. The firm had revenue of $22.45 billion for the quarter, compared to analysts’ expectations of $13.17 billion. During the same period last year, the business posted $7.35 earnings per share. The firm’s revenue for the quarter was up 20.2% on a year-over-year basis. Equities research analysts forecast that Alphabet will post $34.42 EPS for the current year.
In related news, CEO Lawrence Page sold 16,670 shares of the business’s stock in a transaction dated Friday, October 28th. The stock was sold at an average price of $827.79, for a total value of $13,799,259.30. Following the completion of the sale, the chief executive officer now directly owns 105,670 shares of the company’s stock, valued at approximately $87,472,569.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Sergey Brin sold 66,664 shares of the business’s stock in a transaction dated Tuesday, August 23rd. The shares were sold at an average price of $785.10, for a total value of $52,337,906.40. Following the completion of the sale, the insider now directly owns 28,200 shares of the company’s stock, valued at $22,139,820. The disclosure for this sale can be found here. 13.92% of the stock is owned by corporate insiders.
A number of hedge funds have recently modified their holdings of the stock. Signature Estate & Investment Advisors LLC bought a new stake in shares of Alphabet during the third quarter worth approximately $102,000. Quantbot Technologies LP raised its stake in shares of Alphabet by 64.2% in the third quarter. Quantbot Technologies LP now owns 156 shares of the company’s stock worth $121,000 after buying an additional 61 shares in the last quarter. Trust Department MB Financial Bank N A raised its stake in shares of Alphabet by 3.0% in the third quarter. Trust Department MB Financial Bank N A now owns 170 shares of the company’s stock worth $132,000 after buying an additional 5 shares in the last quarter. Mesirow Financial Investment Management Equity Management bought a new stake in shares of Alphabet during the second quarter worth approximately $121,000. Finally, Klingman & Associates LLC raised its stake in shares of Alphabet by 28.7% in the third quarter. Klingman & Associates LLC now owns 184 shares of the company’s stock worth $143,000 after buying an additional 41 shares in the last quarter. 34.41% of the stock is owned by institutional investors and hedge funds.
Alphabet Inc is a holding company. The Company holds interests in Google Inc (Google). The Company’s segments include Google and Other Bets. Google segment includes Internet products, such as Search, Ads, Commerce, Maps, YouTube, Apps, Cloud, Android, Chrome, Google Play, and hardware products, including Chromecast, Chromebooks and Nexus, which are sold by the Company.
To view Vetr’s full report, visit Vetr’s official website.
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