Alphabet (NASDAQ:GOOGL) was downgraded by equities researchers at Vetr from a “strong-buy” rating to a “buy” rating in a note issued to investors on Tuesday, March 6th. They presently have a $1,232.76 target price on the information services provider’s stock. Vetr‘s target price would indicate a potential upside of 8.67% from the company’s previous close.
A number of other research analysts have also recently weighed in on the stock. Zacks Investment Research raised shares of Alphabet from a “hold” rating to a “buy” rating and set a $1,199.00 price objective for the company in a research note on Tuesday, December 26th. SunTrust Banks decreased their target price on shares of Alphabet from $1,250.00 to $1,180.00 in a research report on Monday, January 15th. Monness Crespi & Hardt restated a “buy” rating and set a $1,250.00 target price (up previously from $1,120.00) on shares of Alphabet in a research report on Monday, January 29th. Cowen raised their target price on shares of Alphabet from $1,150.00 to $1,230.00 and gave the stock an “outperform” rating in a research report on Thursday, January 4th. Finally, B. Riley raised their target price on shares of Alphabet from $1,200.00 to $1,375.00 and gave the stock a “buy” rating in a research report on Tuesday, January 30th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, thirty-nine have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $1,167.67.
Alphabet (NASDAQ GOOGL) traded down $16.19 during midday trading on Tuesday, reaching $1,134.42. 2,711,512 shares of the company traded hands, compared to its average volume of 1,795,649. The stock has a market capitalization of $799,424.25, a PE ratio of 63.16, a P/E/G ratio of 1.23 and a beta of 0.99. Alphabet has a 52-week low of $824.30 and a 52-week high of $1,198.00. The company has a quick ratio of 5.11, a current ratio of 5.14 and a debt-to-equity ratio of 0.03.
Alphabet announced that its board has authorized a stock buyback program on Thursday, February 1st that authorizes the company to repurchase $8.59 billion in shares. This repurchase authorization authorizes the information services provider to reacquire shares of its stock through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its shares are undervalued.
Several institutional investors and hedge funds have recently added to or reduced their stakes in GOOGL. Vestpro Financial Partners Inc. dba CPF Texas acquired a new position in Alphabet during the 4th quarter valued at about $108,000. Odey Holdings AG boosted its stake in Alphabet by 18.2% during the 2nd quarter. Odey Holdings AG now owns 130 shares of the information services provider’s stock valued at $121,000 after purchasing an additional 20 shares during the period. Stuart Chaussee & Associates Inc. acquired a new position in Alphabet during the 4th quarter valued at about $123,000. Stelac Advisory Services LLC acquired a new stake in shares of Alphabet in the 3rd quarter worth approximately $126,000. Finally, Lee Financial Co lifted its stake in shares of Alphabet by 500.0% in the 4th quarter. Lee Financial Co now owns 120 shares of the information services provider’s stock worth $126,000 after acquiring an additional 100 shares during the period. 34.38% of the stock is owned by institutional investors.
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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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