Alphabet Inc. (GOOG) Downgraded by Vetr Inc.
Vetr cut shares of Alphabet Inc. (NASDAQ:GOOG) from a strong-buy rating to a buy rating in a report published on Wednesday. The brokerage currently has $1,033.60 price target on the information services provider’s stock.
GOOG has been the subject of a number of other reports. MKM Partners reiterated a buy rating and set a $1,170.00 price target (up from $1,000.00) on shares of Alphabet in a research report on Monday, May 8th. UBS AG reiterated a buy rating and set a $1,050.00 price target on shares of Alphabet in a research report on Monday, May 15th. Robert W. Baird reiterated an outperform rating and set a $1,100.00 price target on shares of Alphabet in a research report on Friday, May 19th. Piper Jaffray Companies reiterated an overweight rating on shares of Alphabet in a research report on Monday, May 22nd. Finally, Aegis reiterated a buy rating on shares of Alphabet in a research report on Monday, May 22nd. One investment analyst has rated the stock with a sell rating, six have given a hold rating and forty-one have issued a buy rating to the stock. The stock has a consensus rating of Buy and an average target price of $1,030.53.
Alphabet (NASDAQ:GOOG) opened at 937.34 on Wednesday. The company has a 50-day moving average price of $933.77 and a 200-day moving average price of $900.97. Alphabet has a 12-month low of $727.54 and a 12-month high of $988.25. The firm has a market cap of $649.46 billion, a PE ratio of 33.97 and a beta of 0.94.
Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data on Monday, July 24th. The information services provider reported $5.01 earnings per share 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 company had revenue of $26.01 billion for the quarter, compared to analyst estimates of $25.61 billion. During the same quarter in the previous year, the company earned $8.42 EPS. The firm’s revenue for the quarter was up 21.0% compared to the same quarter last year. On average, equities analysts predict that Alphabet will post $30.59 earnings per share for the current year.
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In other Alphabet news, VP James Grier Campbell sold 183 shares of the company’s stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $911.16, for a total value of $166,742.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP David C. Drummond sold 2,000 shares of the company’s stock in a transaction dated Monday, June 12th. The shares were sold at an average price of $948.90, for a total transaction of $1,897,800.00. Following the completion of the transaction, the senior vice president now directly owns 2,800 shares of the company’s stock, valued at $2,656,920. The disclosure for this sale can be found here. Over the last three months, insiders sold 46,964 shares of company stock valued at $44,007,763. 13.92% of the stock is currently owned by corporate insiders.
Several large investors have recently modified their holdings of the stock. Intl Fcstone Inc. bought a new stake in shares of Alphabet during the second quarter worth about $722,000. Griffin Asset Management Inc. bought a new stake in shares of Alphabet during the second quarter worth about $401,000. Gs Investments Inc. bought a new stake in shares of Alphabet during the second quarter worth about $507,000. Aldebaran Financial Inc. raised its stake in shares of Alphabet by 55.6% in the second quarter. Aldebaran Financial Inc. now owns 1,766 shares of the information services provider’s stock worth $1,605,000 after buying an additional 631 shares during the period. Finally, Kimelman & Baird LLC raised its stake in shares of Alphabet by 0.6% in the second quarter. Kimelman & Baird LLC now owns 7,081 shares of the information services provider’s stock worth $6,435,000 after buying an additional 45 shares during the period. Institutional investors and hedge funds 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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